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14 Aug 2018, 11:19 am by Stephanie Abbott
The Royal Bank of Scotland Group plc (RBS Group) has entered into a $4.9 billion settlement today resolving federal civil claims that RBS Group’s subsidiaries in the United States (RBS) misled investors in the underwriting and issuing of residential mortgage-backed securities (RMBS) between 2005 and 2008. [read post]
7 Mar 2016, 10:43 am by Elizabeth J. Elias
RMBS backed by pre-2009 originated mortgage loans. [read post]
27 Mar 2014, 5:53 am by Editorial Board
On March 17, Fitch released its criteria for analyzing RMBS under the Ability-to-Repay and Qualified Mortgage rules. [read post]
3 Feb 2012, 12:48 am
Kareem Serageldin, David Higgs, and Salmaan Siddiqui, respectively, Credit Suisse Directors, have been charged with fraudulently inflating the prices of asset-backed bonds which comprised subprime residential mortgage backed securities (“RMBS”) and commercial mortgage backed securities (“CMBS”) in Credit Suisse’s trading book in late 2007 and early 2008. [read post]
29 Oct 2012, 8:37 am
However, the Residential Mortgage Backed Securities Fraud Working Group ("RMBS Fraud Working Group") seeks to hold the major financial institutions accountable for the problems they have caused. [read post]
12 Apr 2016, 5:17 pm by Sabrina I. Pacifici
  Investors, including federally-insured financial institutions, suffered billions of dollars in losses from investing in RMBS issued and underwritten by Goldman between 2005 and 2007. [read post]
8 Nov 2012, 1:38 pm
They then sold MBS into the CDO at prices they had received four months prior while being fully aware that during this time the RMBS market had declined. [read post]
30 Jul 2012, 7:59 am by Editorial Board
Plaintiffs allege that Washington Mutual misrepresented the extent to which its underwriting guidelines were lowered and unevenly applied in connection with the sale of RMBS, including that the underwriters at Washington Mutual had substantial discretion to deviate from the already lowered guidelines. [read post]
16 Apr 2010, 1:58 pm by Mark J. Astarita, Esq.
In a complaint filed in the Southern District of New York, the SEC has filed civil charges against Goldman Sachs, alleging that it structured and marketed a synthetic collateralized debt obligation (CDO) that hinged on the performance of subprime residential mortgage-backed securities (RMBS). [read post]
9 Apr 2018, 2:04 pm by Caitlin Dance
On April 3, Fitch issued rating criteria for RMBS Lenders’ Mortgage Insurance. [read post]
27 Feb 2008, 8:33 am
It has been linked to snow, labor shortages, to the RMB effect on trade, and a move to new low costs bases, and so on… and what makes me laugh a bit is that this is something that could not only be seen coming from a long way off, but where I think many reports are actually off is that they have failed to take into account a MAJOR cause of these closures. [read post]
29 Apr 2013, 7:43 am by Editorial Board
On April 25, the First Department of the Appellate Division of the New York Supreme Court affirmed an order barring monoline insurers CIFG and Syncora from suing GreenPoint Mortgage Funding for alleged violations of representations and warranties concerning loans backing $1.8 billion in RMBS securitizations. [read post]
28 Aug 2017, 2:29 pm by Aaron Rubin
Accordingly, Plaintiffs cannot utilize sampling in their efforts to prove that the RMBS trustee breached its contractual obligations. [read post]
28 Oct 2013, 11:17 am by Editorial Board
  FSAM originally purchased the RMBS from Morgan Stanley in 2006 and 2007, but in 2009, assigned the securities to Dexia in a put option transaction. [read post]
16 Sep 2013, 9:44 am by Editorial Board
  FHFA originally filed the action in the Supreme Court for the State of New York in 2011, alleging misstatements and omissions about loan quality in connection with RMBS purchased by Fannie Mae and Freddie Mac. [read post]
25 Aug 2014, 11:17 am by Editorial Board
Judge Sam Sparks of the United States District Court for the Western District of Texas granted judgment to defendants in two related cases filed by the FDIC on behalf Guaranty Bank (now defunct) arising out of Guaranty Bank’s purchases in 2004 and 2005 of US$2.1 billion in RMBS. [read post]
8 Sep 2014, 1:24 pm by Editorial Board
Stanton of the United States District Court for the Southern District of New York granted a motion by JPMorgan, Citigroup and several other banks for judgment on the pleadings, dismissing a lawsuit filed by the FDIC, as receiver for Colonial Bank, involving US$388 million in RMBS. [read post]