Investments

Barclays mortgage bond trader fired for allegedly providing inaccurate information to clients

Yoon Seok Lee “discharged” on Feb. 11

[Correction: This article is updated to reflect a correction in the Bloomberg article, which corrected the reason for Lee's dismissal from allegedly lying to providing inaccurate information clients.]

Barclays Capital (BCS) fired one of its mortgage bond traders after he allegedly provided inaccurate information to clients involving residential mortgage-backed securities trades.

According to a report from Bloomberg (first reported by Asset-Backed Alert), Barclays terminated Yoon Seok Lee on Feb. 11 for “allegations involving certain inaccurate communications to customers during the negotiation of residential mortgage-backed securities trades.”

Click through to the Bloomberg report from more on Lee's firing.

Latest Articles

Fannie and Freddie CEOs talk 2021 challenges, controversial 50 bps refi fee

Freddie Mac’s David Brickman and Fannie Mae’s Hugh Frater also offered their takes on challenges with affordable housing, racial disparities with homeownership, expectations for 2021 and – yes, you knew it was coming – the 50 bps adverse market fee that’s due to hit lenders doing refis beginning in December.

Oct 20, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please