Jeb Bush: Current housing and debt situation unsustainable

Jeb Bush: Current housing and debt situation unsustainable

Is the clock ticking on the 30-year mortgage?

Senate banking committee passes massive regulatory relief bill

Big implications in legislation for housing and mortgage finance

Existing home sales crater in April, falling 3.3%

Spring buying stalls out after strong March performance
W S
Lending / The Ticker

NCUA hits setback in Goldman Sachs lawsuit

/ Print / Reprints /
| Share More
/ Text Size+

The National Credit Union Administration hit a setback when a federal judge in Los Angeles tentatively dismissed several claims in a lawsuit filed by the the NCUA against Goldman Sachs.

NCUA is a federal agency that oversees credit unions across the country.
 
The judge dismissed with prejudice NCUA's claims concerning seven of the eight residential mortgage-backed securities certificates at issue in the lawsuit, which charged that the Goldman Sachs’ RMBS issues played a role in the collapse of several credit unions.
"Although Goldman would like the court to view many of these allegations not as systematic disregard of underwriting guidelines, but instead as blind adherence to underwriting guidelines involving loan products that, by their very nature, were risky products, that is not a conclusion that the court is prepared to reach on the basis of the NCUA's pleadings," said U.S. District Judge George Wu.


Source: Mortgage Orb
Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus