Tag Archives: Goldman Sachs

New York-based investment bank Goldman Sachs reported a slight year-over-year decline in Q4 2014 net earnings, but for the whole year of 2014 the firm reported a slight uptick from 2013, according to the firm's Q4 and year-end earnings statement released on Friday.

The Goldman Sachs Group, Inc. reported a third quarter net revenue of $8.39 billion and net earnings of $2.24 billion, according to the company's Q3 earnings statement released on Thursday. The net earnings total is a 50 percent jump from Q3 2013, when, the investment bank reported net earnings of $1.43 billion.

If Pollard is correct, the impact on the U.S. economy would be seismic. Overvalued homes, according to his report to President Obama, make up $23 trillion of consumer asset value and "serve as the psychological linchpin" for $17 trillion of invested capital.

The Federal Housing Finance Agency (FHFA) and New York-based investment banking firm Goldman Sachs have settled a lawsuit alleging that Goldman Sachs sold faulty residential mortgage-backed securities (RMBS) to GSEs Fannie Mae and Freddie Mac, for which FHFA is conservator.

Multiple reports surfaced over the weekend that Goldman Sachs may be nearing a deal with the federal government to settle claims that it sold faulty mortgage backed securities to Fannie Mae and Freddie Mac, according to people with familiar with the negotiations. If a deal is reached it is expected to come in between $800 million and $1.25 billion. The talks were first reported by the Wall Street Journal.

Home prices and home sales have been rising over the past few years, pointing to a recovery in the housing market, but some warn that what we are seeing may not be a true recovery but instead a mirage created by investors--a dangerous mirage that could lead to trouble in the years to come. According to multiple industry studies, cash purchases made up about half of all home sales across the nation in September.

The checks for Goldman Sachs and Morgan Stanley borrowers covered under the foreclosure review settlement should be mailed out Friday, May 3, the Federal Reserve announced Monday. The next batch of payments will go out to more than 220,000 borrowers who had a mortgage in any stage of the foreclosure process in 2009 and 2010 that was serviced by one of the former subsidiaries, Litton Loan Servicing LP or Saxon Mortgage Services, Inc. The checks for the borrowers are valued at $247 million.

Nine days after an $8.5 billion foreclosure settlement was reached between regulators and 10 servicers, Goldman Sachs and Morgan Stanley struck a similar deal to settle allegations of wrongful foreclosure. Goldman Sachs and Morgan Stanley will pay $557 million in cash payments and other mortgage assistance.

A three-panel judge representing the United States Bankruptcy Appellate Panel of the Tenth Circuit sided with Mortgage Electronic Registration Systems (MERS) in a case involving a split-the-note theory.

Two more banks have lost in their attempts to dismiss claims of misconduct in sale of mortgage-backed securities (MBS) to Fannie Mae and Freddie Mac. U.S. District Judge Denise Cote rejected motions filed by Goldman Sachs and Deutsche Bank, two of 16 defendants brought before her court by the Federal Housing Finance Agency (FHFA). In their arguments, attorneys for Deutsche Bank and Goldman say that FHFA's allegations are inadequate to support its claim of fraud.