Tag Archives: Mortgage-Backed Securities

Driven by a a trend of increasing household equity, the total value of the residential housing market nationwide rose to $22.7 trillion as of the end of Q2 2015, according to the Urban Institute's Housing Finance at a Glance report for September 2015 released Friday.

U.S. District Judge Victor Marrero in the U.S. District Court for the Southern District of New York ruled that there was no evidence that Goldman knew the securities would fail or that Goldman failed to disclose any known risk to the securities.

Nomura Holdings and the Royal Bank of Scotland (RBS) have agreed to pay an extra $33 million in addition to the $806 million a judge ordered them to pay for allegedly misrepresenting the quality of mortgage-backed securities sold to Fannie Mae and Freddie Mac in the run-up to the financial crisis.

Citigroup earned credit for $162.7 million in consumer relief toward fulfilling its $2.5 billion obligation under the terms of a July 2014 settlement with the U.S. Department of Justice and five states for selling toxic residential mortgage-backed securities to investors before the financial crisis, according to a report from the settlement monitor released Thursday.

Last week, data from the Federal Reserve indicated that foreign central banks had reduced holdings of agency debt and MBS at the Fed to their lowest level since early May ($285.21 billion),

A federal judge in Connecticut has denied a bid by the Royal Bank of Scotland (RBS) to dismiss a lawsuit filed by the FHFA accusing the bank of misleading Fannie Mae and Freddie Mac in the sale of $32 billion worth of residential mortgage-backed securities before the financial crisis.

The lawsuit, filed in the U.S. District Court for the Southern District of New York, claims that BNY Mellon "shirked its duty" as a bond trustee to make sure that the securities were not defective.

The new record set in July surpassed the previous mark of $46.1 billion, set in July 2009. For Fiscal Year 2015, Ginnie Mae has guaranteed more than $346 billion mortgage-backed securities, way ahead of the $242 billion the corporation guaranteed by this point in FY 2014.

A judge in Austin, Texas, dismissed the lawsuits filed by the FDIC last year against the financial institutions, stating that a Texas law that required lawsuits to be filed within five years of the sale of the mortgage-backed securities superseded the federal law.

With many smaller banks either failing or struggling to continue operations due to increased costs of doing business, Comptroller of the Currency Thomas Curry recently spoke at the Federal Home Loan Bank of Chicago about some of the latest innovations brought about to help community banks get back in the lending game.