RMBS

HSBC to Pay $765M in Toxic RMBS Settlement
Risk & Compliance

HSBC to Pay $765M in Toxic RMBS Settlement

The Department of Justice says bank employees ignored the warnings of its primary due diligence vendor about the quality of loans underlying its RMBS.
By Matthew Heller | October 11, 2018
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Moody’s Fined $16M Over Rating Deficiencies
Risk & Compliance

Moody’s Fined $16M Over Rating Deficiencies

The SEC says Moody's failed to ensure the accuracy of statistical models and apply rating symbols consistently.
By Matthew Heller | August 28, 2018
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RBS to Settle RMBS Claims for Record $4.9B
Risk & Compliance

RBS to Settle RMBS Claims for Record $4.9B

The Justice Department says the penalty is the largest it has ever imposed for financial crisis-era misconduct at a bank.
By Matthew Heller | August 15, 2018
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Ex-Deutsche Trader Accused of RMBS Fraud
Risk & Compliance

Ex-Deutsche Trader Accused of RMBS Fraud

The bank's former head of subprime trading allegedly misrepresented the quality of securitized loans to protect Deutsche's bottom line and his own salary.
By Matthew Heller | September 12, 2017
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RBS Settles Suit Over Toxic RMBS for $5.5B
Risk & Compliance

RBS Settles Suit Over Toxic RMBS for $5.5B

"This settlement is a stark reminder of what happened to this bank before the financial crisis," the bank's CEO says.
By Matthew Heller | July 12, 2017
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UBS Pays $445M Over Credit Union MBS Losses
Risk & Compliance

UBS Pays $445M Over Credit Union MBS Losses

The Swiss bank was accused of misrepresenting the risks of roughly $1.15 billion of RMBS it sold to the U.S. Central and Western corporate credit unions.
By Matthew Heller | May 1, 2017
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Ally Financial Fined $52M Over MBS Marketing
Risk & Compliance

Ally Financial Fined $52M Over MBS Marketing

U.S. authorities say an Ally subsidiary marketed mortgage bonds even though it knew a "significant percentage" of the underlying subprime loans was toxic.
By Matthew Heller | November 22, 2016
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JPMorgan Settles With FDIC Over WaMu Deal
Risk & Compliance

JPMorgan Settles With FDIC Over WaMu Deal

The bank will receive $645 million from the WaMu receivership estate in exchange for dropping more than $1 billion in indemnification claims.
By Matthew Heller | August 23, 2016
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Ex-Goldman Trader Fined $400K in Fraud Case
Risk & Compliance

Ex-Goldman Trader Fined $400K in Fraud Case

Edwin Chin allegedly misrepresented the terms of RMBS trades to increase Goldman's profits and his own compensation.
By Matthew Heller | August 17, 2016
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DBRS Fined $6M Over Credit Rating Methodology
Risk & Compliance

DBRS Fined $6M Over Credit Rating Methodology

The SEC's case against DBRS is the second this year involving credit rating agencies' evaluations of complex financial instruments.
By Matthew Heller | October 26, 2015
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BNY Mellon, U.S. Bank Hit With Suits Over RMBS Losses
Risk & Compliance

BNY Mellon, U.S. Bank Hit With Suits Over RMBS Losses

The FDIC sued the banks over their role as trustees of nearly $2.2 billion of securities purchased by failed financial institution Guaranty Bank.
By Matthew Heller | August 20, 2015
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Lehman Bros. Investors Suffer Setbacks in RMBS Suit
Corporate Finance

Lehman Bros. Investors Suffer Setbacks in RMBS Suit

A U.S. bankruptcy court judge refuses to increase the valuation for mortgages underlying investor claims.
By Matthew Heller | December 15, 2014
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