Goldman Sachs agrees to pay $3.15B in FHFA suit

Goldman Sachs agrees to pay $3.15B in FHFA suit

Settlement will resolve RMBS claims

It's settled: Principal reduction is smart policy

How the BofA settlement opened the door

Pavaso CEO: CFPB eClosing mortgage pilot “historic event”

Makes buying a home easier for all Americans
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Items Tagged with 'SEC'

ARTICLES

SEC subpoenas Ocwen over Altisource, HLSS associations

Joins NYDFS in questioning company’s relationship with its affiliates
Ben Lane
Ocwen’s close relationship with Altisource Residential, Altisource Asset Management Corp., Altisource Portfolio, and Home Loan Servicing Solutions has been under scrutiny since New York's Department of Financial Services first sent a letter to Ocwen’s general counsel about the dealings between the affiliated companies in February.
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Morgan Stanley finally pays $275 million for subprime RMBS fraud

SEC charged company with misrepresenting loans
Ben Lane
The SEC had charged Morgan Stanley with misrepresenting the delinquency status of mortgage loans underlying two subprime RMBSs at the height of the financial crisis. They were the last subprime RMBSs that Morgan Stanley sponsored, issued, and underwrote.
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Court of Appeals: Judge should not have blocked Citigroup, SEC settlement

Overturns Judge Jed Rakoff's decision to block $285 million RMBS settlement
Ben Lane
In the ruling, the three-judge panel wrote, “We now hold that the district court abused its discretion by applying an incorrect legal standard in assessing the consent decree and setting a date for trial.”
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SEC charges jailed broker with fraud in real estate scam

Ben Lane

Vitale allegedly told his investors that their funds were “100% protected” when they were not, and he claimed to be a financial expert with a business degree from Notre Dame. In fact, he never attended college after graduating from Notre Dame High School in West Haven, Conn.


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Morgan Stanley offers $275M to absolve bad mortgage bonds

SEC yet to agree, MS won't admit wrongdoing
Trey Garrison
Morgan Stanley is finalizing a $275 million agreement with the U.S. Securities and Exchange Commission to settle the SEC probe into the bank’s subprime mortgage bond trades going back to 2007.
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SEC tells two Wall Street bond traders this isn't Monopoly

Accused of Free Parking
Brena Swanson
Two Wall Street traders are charged with involvement in a “parking” scheme that arranged for one to purchase several securities with the understanding that the other would repurchase them at a profit in order to skirt around company rules.
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3 dangers housing finance faces in 2014

Ambiguous, complex, and inconsistent enforcment ahead
Trey Garrison
When a law's effect is determined by how it is enforced, and when there's a new model of regulation by people who don't understand what they're regulating — that's not a good place to be.
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Your student loan is tanking the mortgage market

Rising education debt spells doom for housing
Kerri Ann Panchuk
Taking out a loan to finance an education is the new American dream. With more citizens needing higher education to get a job, and the price tag on that education going up, the market is now desperately out of whack. The outcome? Mortgages in the U.S. are taking a backseat to student loans.
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JP Morgan earnings summary: only the lawyers win

Bank still dishing out the dollars
Kerri Ann Panchuk
Looking at JPMorgan’s fourth-quarter and year-end financial statement, it’s clear JPM – among other banks – is still dishing out the dollars to get these issues behind them. But who is the true beneficiary of the settlements and litigation? Homeowners? Future borrowers? Nope. Guess again.
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Investors in PennyMac gain larger stake

Two hedge funds report beneficial ownership to the SEC
A group of investors acquired enough of a stake in PennyMac Financial Services to prompt a series of new filings with the Securities and Exchange Commission.
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