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Tag Archives: Mortgage-Backed Securities

Federal Reserve Continues Taper; Reduces Purchases by $10 Billion

The Board of Governors of the Federal Reserve System issued their Federal Open Market Committee statement, commenting that growth in economic activity has picked up recently despite a sluggish first quarter, due in part to adverse weather conditions. The Fed noted that recovery in the housing sector remained slow.

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FHFA Settles with Barclays Bank for $280 Million

The Federal Housing Finance Agency (FHFA) announced a settlement with Barclays Bank PLC for $280 million, resolving legal claims against the bank related to allegations of violations of federal and state securities laws in connection with private-label mortgage-backed securities (MBS) purchased by the GSEs.

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Fannie Mae Issued $3.5 Billion of MBS in Q1 2014

Fannie Mae issued approximately $3.5 billion of multifamily mortgage-backed securities (MBS) in the first quarter of 2014, the company said in a press release Monday. The securities are backed by new multifamily loans delivered by the company's lenders.

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Judge Upholds $1.5 Billion Claim against Wells Fargo

A lawsuit filed by European bank LBBW Luxemburg S.A. over an alleged $1.5 billion subprime mortgage-backed securities (MBS) fraud scheme was upheld by a federal judge, who denied the bank’s motions to dismiss. U.S. District Judge J. Paul Oetken let stand charges of fraud, breach of contract, negligent misrepresentation, and constructive fraud against Wells Fargo Securities LLC and Fortis Securities LLC.

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