Items Tagged with 'subprime loans'


  • GE books $1.5 billion for potential settlement with DOJ over WMC subprime loans

    GE sold WMC in 2007, but problems still remain
    General Electric may be facing a fine of at least $1.5 billion for the lending activities of its shuttered subprime lending unit, WMC Mortgage. GE revealed last week that it booked a reserve of $1.5 billion that may be used as a settlement with the Department of Justice over the company’s subprime lending from 2005 through 2007.
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  • 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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