Items Tagged with 'RMBS'

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FDIC reaches $63M RMBS settlement with Morgan Stanley

Funds distributed between three different receiverships
The Federal Deposit Insurance Corporation announced a $62.95 million settlement with Morgan Stanley & Company resolving claims over residential mortgage-backed securities. Under the agreement, the settlement funds will be distributed among the receiverships for the three failed banks.
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Virginia reaches $63 million settlement with 11 banks for RMBS fraud

RBS, Barclays, others accused of defrauding state’s retirement system
The Commonwealth of Virginia announced Friday that it reached a “record” settlement with 11 banks over allegations that the banks defrauded the state’s retirement system by allegedly misrepresenting the quality of residential mortgage-backed securities in the run-up to the financial crisis.
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Is settlement looming between U.S. and RBS over pre-crisis mortgage bonds?

On to the next one…
Now that the U.S. government secured another massive settlement over pre-crisis mortgage bond practices, this time with Goldman Sachs to the tune of $5 billion, only one major investigation remains outstanding – Royal Bank of Scotland. And according to a report from Reuters, settlement between RBS and the feds could be coming in the next few weeks.
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Goldman Sachs reaches $5 billion settlement over toxic mortgage bond claims

Settlement reached with federal RMBS task force
Goldman Sachs said Thursday that it reached a $5 billion settlement over claims related to toxic mortgage bonds sold to investors in the run up to the financial crisis. The agreement, which would still need to be finalized, would resolve actual and potential civil claims brought by the U.S. Department of Justice and other parties, relating to the firm’s securitization, underwriting and sale of residential mortgage-backed securities from 2005 to 2007.
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Morgan Stanley reaches $225 million settlement with NCUA

Resolves claims related to RMBS losses
The National Credit Union Administration announced its latest move in pursing recoveries on behalf of corporate credit unions that were hit with big losses due to the corporate credit unions’ purchase of faulty residential mortgage-backed securities. Now, Morgan Stanley becomes the latest to pay up.
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