toxic mortgages

GE’s Subprime Loan Business Files Chapter 11
Credit & Capital

GE’s Subprime Loan Business Files Chapter 11

WMC Mortgage sought bankruptcy protection to resolve remaining legal liabilities over defective loans it originated before the 2008 financial crisis.
By Matthew Heller | April 24, 2019
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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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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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Deutsche, Credit Suisse Settle MBS Cases for $12B
Risk & Compliance

Deutsche, Credit Suisse Settle MBS Cases for $12B

The settlements with U.S. authorities ease investor concerns over the impact of the MBS scandal on the shaky European banking industry.
By Matthew Heller | December 23, 2016
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U.S. Sues Barclays Over $30B in Toxic RMBS
Risk & Compliance

U.S. Sues Barclays Over $30B in Toxic RMBS

Due diligence vendors described some of the loans underlying the securities as having the “distinct aroma of default.”
By Matthew Heller | December 22, 2016
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