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  • Freddie Mac reports $354M net loss in first quarter

    Freddie Mac reported a $354 million net loss in the first quarter, significantly down from its $2.2 billion net income recorded in the fourth quarter of 2015. The news is a reminder of the GSE's net loss in the third quarter of 2015, which marked the first loss in four years. But despite the news, Freddie CEO Donald Layton remains positive on the results. Click the headline to find out why.

Items Tagged with 'Securities and Exchange Commission'

ARTICLES

Former Fannie Mae CEO to face SEC charges for subprime mortgages

Jury could infer Daniel Mudd acted with intent
Daniel Mudd, the former CEO of Fannie Mae, must face a civil trial over charges that he misled investors about the GSE’s exposure to subprime loans prior to the financial crisis. While other Fannie executives recently announced a settlement, the ending is still unwritten for Mudd, with evidence possibly showing that he knew what he was doing was false.
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Ocwen's black Monday: Nonbank discloses cavalcade of bad news

Posts big loss in 2015, expects another in 2016, discloses SEC investigation
Ocwen Financial reported its fourth quarter and full-year 2015 financial results on Monday morning, and the news wasn’t good. The nonbank disclosed that it posted a big loss in 2015, making it the second year in a row that the company took a loss. And not only did the nonbank take a loss in 2015, it expects to take another in 2016. And that’s not all. Ocwen also disclosed that it is currently under an SEC investigation.
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Utah real estate company charged with operating $28 million Ponzi scheme

SEC accuses Marquis Properties of bilking more than 250 investors
A Utah real estate investment company offered investors the promise of a guaranteed return on their investment in “turnkey” houses, but instead bilked more than 250 people out of $28 million by operating a Ponzi scheme, the Securities and Exchange Commission said Thursday.
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SEC fines Ocwen $2 million for misstating financials; Altisource, HLSS relationships

Used flawed MSR valuation methods
Ocwen Financial will pay a $2 million fine after a Securities and Exchange Commission investigation found that the nonbank misstated it financials on several occasions by using a “flawed, undisclosed methodology” to value mortgage servicing rights that were sold to an Ocwen-associated company, Home Loan Servicing Solutions.
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Attention financial industry: SEC reveals 2016 compliance exam targets

Here are the areas that the SEC will be focusing on this year

The Securities and Exchange Commission revealed Monday what areas of the financial industry its compliance examiners will be focusing on in 2016. The SEC said that there are several new areas of focus for its compliance exams this year. Here's what you need to know.


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St. Joe Company, former execs settle with SEC over alleged real estate overvaluing

Company accused of "materially overstating" earnings during financial crisis
The St. Joe Company, one of Florida’s largest landowners and real estate developers, and several of the company's former executives settled charges brought by the Securities and Exchange Commission, which accused the company of overvaluing its real estate holdings during the financial crisis.
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SEC settles with former Fannie Mae execs over subprime fraud

The settlement amount is much smaller than you think
A 2011 lawsuit brought by the Securities and Exchange Commission against two former Fannie Mae executives is over. The execs were charged with misleading investors about the quality of subprime mortgages. However, it's the fine print that is leaving people wondering.
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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.
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