Items Tagged with 'Washington Mutual'

ARTICLES

  • Nationstar (aka Mr. Cooper) merging with WMIH Corp. in $3.8 billion deal

    WMIH is former parent company of Washington Mutual
    For more than 11 years, Fortress Investment Group controlled Nationstar Mortgage, the nonbank now known as Mr. Cooper, via majority ownership in the company’s shares. But that’s about to change. Nationstar announced Tuesday morning that it is merging with WMIH Corp., the former parent company of Washington Mutual in a $3.8 billion deal.
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  • JPMorgan, FDIC, Deutsche Bank finalize settlement in WaMu mortgage suit

    JPM paid $645 million from receivership estate
    JPMorgan Chase’s legal battle with the Federal Deposit Insurance Corp. and Deutsche Bank AG over its acquisition of Washington Mutual’s banking operations is finally over. The settlement closes the door on issues that date back to the financial crisis. After nearly a decade of back and forth battles, here's what the parties agreed on.
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  • JPMorgan, FDIC, Deutsche Bank near settlement in WaMu mortgage suit

    Covers breaches of certain WaMu representations and warranties
    JPMorgan Chase’s legal battle with the Federal Deposit Insurance Corp. and Deutsche Bank AG over its acquisition of Washington Mutual’s banking operations is nearing an end. After battling back and forth, the latest update in the bank’s quarterly regulatory filing revealed two key agreements the involved parties finally came to.
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  • JPMorgan's $13B RMBS settlement progress...so far

    Bank gives $6M in credited consumer relief
    After reaching a $13 billion agreement to settle claims regarding the sale and issuance of faulty residential mortgage-backed securities, JPMorgan Chase is now being held accountable to make sure it is staying compliant on all of the requirements.
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  • WaMu manager admits to taking bribes

    All part of a $12 million debt fraud scheme
    "While the nation struggled through the financial crisis, rather than collect the debts of banks, executives at Oxford ripped-off TARP recipients and Washington Mutual in a $12 million debt fraud scheme, and Gesimondo shared in their spoils," said Christy Romero, Special Inspector General for TAR.
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  • Banks should avoid bailing out other banks

    But if they must, the due diligence performed upfront should be show stopping
    Some analysts believe JPMorgan Chase was just being a good corporate citizen when it bought Bear Stearns and WaMu in the heat of the financial crisis. Yet, the bank is receiving no favors for taking on the risk.
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