Items Tagged with 'mortgage-backed securities'


Mortgage bond trader Jesse Litvak convicted of fraud, again

Found guilty on one count after Appeals Court tossed conviction on 10 counts
The tale of Jesse Litvak may finally be moving toward an ending, as a federal jury on Friday found the former Jefferies managing director and mortgage-backed securities trader guilty on one count of fraud. It's a significant difference from Litvak's previous conviction, when a jury found him guilty on 15 counts of fraud.
Read More

DOJ sues Barclays over faulty RMBS claims

Lawsuit dates back to the financial crisis
The ripples from the financial crisis are far from over. Barclays is now the newest bank to get thrown into the spotlight due to a lawsuit filed on Thursday by the U.S. Department of Justice over faulty mortgage-backed securities during the crisis.
Read More

Monday Morning Cup of Coffee: No-down mortgages making a comeback?

No, they aren't
Are zero-down mortgages making a comeback? Plus, Commerzbank sued four U.S. banks, claiming that they failed to properly monitor billions of dollars in mortgage-backed securities acquired by the German lender before the 2008 financial crisis. And, which seven movies tell the real story of the housing crisis? All that and more in your Monday Morning Cup of Coffee.
Read More

Citigroup sued over billions in mortgage debt losses

PIMCO, other investors file lawsuit
Top banks are still dealing with the aftermath of the financial crisis. In the most recent court battle, Pacific Investment Management Co and other investors have sued Citigroup over the bank's alleged failure to properly monitor toxic securities backed by more than $13.8 billion in mortgage loans.
Read More

SEC, U.S. Attorney charge three former Nomura RMBS traders with fraud

Allegedly repeatedly lied to customers, trained junior traders to do the same
The Securities and Exchange Commission and the U.S. Attorney’s Office for the District of Connecticut are charging three former Nomura Securities International residential mortgage-backed securities traders with fraud, accusing the trio of “repeatedly lying” to customers about the pricing information of mortgage bonds and defrauding customers of millions of dollars.
Read More

Ginnie Mae changes issuer requirements

Rule changes address regulatory issues, mergers, ownership changes
Citing an increase in the volume and complexity of requests for business status change approvals from its issuers, Ginnie Mae announced Tuesday a series of changes to its requirements. Click here to read Ginnie Mae's new rules.
Read More

Ex-Fifth Third banker starts mortgage-bond hedge fund

Cincinnati Business Courier takes a look at Mariemont Capital
Meet Kevin Taylor. In 2013, he left his position running mortgage-backed securities trading desk at Fifth Third Bank to start Mariemont Capital. And according to a report from the Cincinnati Business Courier, Taylor is finding success investing in residential mortgage bonds and delivering big returns for his investors.
Read More

Deutsche Bank, MassMutual settle RMBS lawsuit

Federal judge okays motion to dismiss, terms not disclosed
A Deutsche Bank unit and Massachusetts Mutual Life Insurance Co. reached a settlement over residential mortgage-backed securities, with a federal judge signing off on the undisclosed terms Thursday.
Read More