Items Tagged with 'toxic mortgage'

ARTICLES

  • 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.
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  • Goldman Sachs nearing $650 million in consumer relief in $5 billion settlement

    Passes one-third mark in $1.8 billion consumer relief obligation
    Goldman Sachs recently passed the one-third mark in its $1.8 billion consumer relief obligation that is part of the company's $5 billion settlement reached in April 2016 over toxic mortgage bonds, the settlement's monitor said in a new report. Part of Goldman Sachs' most recent consumer relief is $240 million in donations to facilitate the construction, rehabilitation or preservation of affordable low-income rental or for-sale housing in seven states
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  • Goldman Sachs reaches $100 million in consumer relief in $5 billion settlement

    Still a long way to go to reach consumer relief requirement of $1.8 billion
    Goldman Sachs is progressing in the consumer relief obligations that are part of the $5 billion settlement reached in April over toxic mortgage bonds, the settlement’s monitor said in a new report. The report showed that Goldman Sachs passed the $100 million mark on its way to the $1.8 billion in consumer relief it's required to provide as part of the settlement.
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  • Goldman Sachs passes first round of compliance testing for $5 billion settlement

    First monitor report finds consumer relief efforts are "logical and appropriate"
    Goldman Sachs is meeting its consumer relief requirements as part of its $5 billion settlement reached in April over toxic mortgage bonds, a new report from the settlement’s monitor showed. The report, published Friday by Eric Green, who serves as independent monitor of the settlement, showed that Goldman Sachs passed its first round of compliance testing for the consumer relief portion of the settlement.
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  • HSBC plans $420M suit against Merrill Lynch, Bank of America for toxic Countrywide loans

    HSBC claims Merrill Lynch, BofA knew loans were bad, securitized them anyway
    HSBC Bank notified a New York state court this week that it plans to file a $420 million lawsuit against Merrill Lynch and Bank of America, claiming that both Merrill Lynch and Bank of America knew a series of Countrywide mortgage loans were toxic and allowed the loans to be securitized nonetheless. Here are all the details.
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