Items Tagged with 'Goldman Sachs'

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Trump picks former Goldman Sachs exec, OneWest chairman Steve Mnuchin to lead Treasury

Led mortgage bond trading at Goldman Sachs
Steve Mnuchin, a former executive at Goldman Sachs and former chairman of OneWest Bank, is President-elect Donald Trump’s choice to lead the Department of the Treasury during his administration, Trump’s transition team announced Wednesday morning. Here's more information on Mnuchin's long history in finance and mortgages and a look at the varied reactions to his appointment.
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Goldman Sachs settles Abacus CDO lawsuit

ACA Financial Guaranty Corp wanted $120 million
Goldman Sachs will pay an undisclosed amount of money to settle another lawsuit stemming from its actions in the run-up to the financial crisis. ACA Financial Guaranty Corp brought the lawsuit against Goldman Sachs, accusing the company of lying about a pool of securities backed by subprime mortgages tied to the failed Abacus collateralized debt obligation.
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New York allots $20 million to state land banks to fight blight

Money to come from Goldman Sachs, Morgan Stanley mortgage bond settlements
The state of New York is set to give an additional $20 million to the state’s land banks as part of a continuing effort to fight neighborhood blight throughout the state, the office of New York Attorney General Eric Schneiderman announced this week. The funding will come from the state’s settlements with Goldman Sachs and Morgan Stanley, both of which agreed to multi-billion dollar mortgage bond settlements earlier this year.
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Experts: Housing isn’t running out of steam despite low inventory

And lackluster mortgage application numbers
The latest mortgage application report posted sad and familiar news. Applications are stuck in limbo as inventory stifles any housing demand in the market — Americans don’t see the point in applying for a mortgage until conditions improve. This problem isn't forever though, as at least one top Wall Street bank sees a better future for housing.
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Goldman Sachs passes first round of compliance testing for $5 billion settlement

First monitor report finds consumer relief efforts are "logical and appropriate"
Goldman Sachs is meeting its consumer relief requirements as part of its $5 billion settlement reached in April over toxic mortgage bonds, a new report from the settlement’s monitor showed. The report, published Friday by Eric Green, who serves as independent monitor of the settlement, showed that Goldman Sachs passed its first round of compliance testing for the consumer relief portion of the settlement.
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Goldman Sachs bans Trump donations from employees

But Clinton donations are fine
Goldman Sachs passed a new rule hindering who its employees can donate to. While the company released its reasoning for the new rule, the timing does seem suspect, especially since the CEO’s candidate will not be impacted by the changes.
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