Items Tagged with 'residential mortgage-back securities'


  • Wells Fargo to face another lawsuit over defective mortgage securities

    One of last remaining suits from financial crisis
    Mega bank Wells Fargo is still not done working through the aftermath of the financial crisis. A judge ruled recently that plaintiff can move forward with a lawsuit against the bank over faulty residential mortgage-backed securities. Will Wells Fargo soon be done dealing with settlements from the crisis?
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  • Mortgage-backed security market to make a comeback in 2017

    Higher interest rates facilitate return of securitization economics
    While the housing market slowly recovered after the recession, the residential mortgage-backed security market did not. There were several reasons for the stagnation, including the market dominance from the GSEs. However, the RMBS market is preparing to make a comeback in 2017.
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  • Moody’s: New GSE mortgage application positive for mortgage bonds

    "Will lead to stronger loans"
    Despite some disagreement in the industry, the recently announced redesigned Uniform Residential Loan Application, the standardized form used by borrowers to apply for a mortgage, should be a strong benefit to the industry. Although the industry is divided on the positive impact of the redesigned form, this new reports explains why it is, in fact, a good thing.
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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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  • Fitch: RMBS investors seek better mortgage servicing

    5 requests from the mortgage bond side
    Despite tons of regulation, bond investors are far from satisfied with the mortgage servicing industry. And so, here are 5 steps from Fitch Ratings, which they say bond investors want mortgage servicers to take, in order to make things better.
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  • It's official: Citi reaches $7B RMBS settlement

    Drastically dents 2Q profits
    Citigroup officially announced a $7 billion settlement to settle residential mortgage-backed securities and collateralized debt obligations with the Department of Justice after industry whispers that the bank was nearing a resolution.
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  • BofA close to beating DOJ $850M RMBS fraud suit

    DOJ “may not have evidence to try this as a fraud case”
    In a hearing, U.S. District Judge Max Cogburn said that he may follow the recommendation of U.S. Magistrate Judge David Cayer, who previously recommended that the case should be dismissed in March.
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