Items Tagged with 'UBS Securities'

ARTICLES

  • UBS expecting DOJ lawsuit over pre-crisis mortgage bonds

    Lawsuit could come as soon as this week
    UBS, which has already paid out hundreds of millions of dollars over its pre-crisis mortgage securitization activities, is about to be facing another massive lawsuit for the same conduct. UBS revealed late Wednesday that it is expecting to be sued by the Department of Justice over its issuance, underwriting and sale of residential mortgage-backed securities from 2006 to 2007.
    Read More
  • UBS reaches $230 million settlement with New York over toxic mortgage bonds

    Required to provide $189 million in consumer relief
    For the second time this month, the state of New York has reached a massive settlement with a bank that ends in “BS.” First, RBS reached a $500 million settlement with the state. Now, UBS agreed to a $230 million settlement covering UBS' mortgage bond activities in the run-up to the financial crisis.
    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