Items Tagged with 'Credit Suisse'

ARTICLES

Fannie Mae sells $1.62 billion in re-performing loans to Credit Suisse subsidiary

Closes sale of 7,500 loans to DLJ Mortgage Capital
Fannie Mae announced Thursday that it completed its second sale of re-performing loans, selling more than $1.6 billion in re-performing loans to a subsidiary of Credit Suisse. Here are the details on the latest mortgage purchase for DLJ Mortgage Capital, which also recently bought up more than $4.6 billion in loans from HSBC.
Read More

HSBC continues cutting U.S. mortgage business with $4.9B loan sale to Credit Suisse

HSBC Finance mortgage book was $117.7 billion in 2008, now it’s $2 billion
HSBC’s reduction of its U.S. mortgage business, which began way back in 2008, took another big step forward recently, as the company announced recently that its subsidiaries, HSBC Finance Corporation and HSBC Bank, sold $4.9 billion in mortgages to a subsidiary of Credit Suisse.
Read More

Credit Suisse reaches $5.28 billion mortgage bond settlement

Required to provide $2.8 billion in consumer relief
For the second time in as many days, the Department of Justice announced that it reached a multi-billion dollar settlement with a foreign-based bank over its mortgage securitization practices leading up to the housing crisis. On Tuesday, the DOJ announced that it reached a $7.2 billion settlement with Deutsche Bank. Now, it’s Credit Suisse’s turn.
Read More

What happened to all that mortgage settlement money?

New York Times' Dealbook provides look at 8 massive mortgage settlements
While the headlines don’t show up quite as often as they once did, it still seems like that every few weeks another bank is settling with the federal government (or other parties) over the mortgage misdeeds of the past. Each of those settlements checks in the multi-billion dollar range, but what happens to the settlement money after the banks pay up?
Read More

FDIC wins $190M settlement for toxic Countrywide mortgage bonds

Settlement stems from failure of five banks
The ghosts of Countrywide past just struck again, as the Federal Deposit Insurance Corporation announced Thursday that eight major financial institutions will pay $190 million total to settle a series of lawsuits tied to toxic Countrywide mortgage bonds that subsequently led to the failure of five banks during the housing crisis.
Read More

Credit Suisse becomes latest to settle with NCUA over credit union RMBS losses

Bank will pay $29 million to failed credit unions
The NCUA said that this settlement with Credit Suisse is only for the Members United and Southwest corporate credit unions, and stated that it still has litigation pending in federal court in Kansas against Credit Suisse for sales of faulty residential mortgage-backed securities to U.S. Central and other corporate credit unions.
Read More

Here's the current status of the top three housing markets

Inventory shortages continue to damper housing
Although the buyer traffic index did improve, it is still below agent expectations as persistent issues with short supplies of quality inventory and buyer resistance to higher prices remain significant concerns. This is the latest update on the top markets in the nation based on single-family building permits.
Read More

Here’s how the top three housing markets are ending summer

Inventory, affordability block growth
According to real estate agents, an insufficient supply of affordable inventory in desirable locations is blocking the housing market from growing, which comes on top of August being a seasonally slow month. Here’s how it is impacting the top three housing markets.
Read More