Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
117,016
# of Subscribers
 

Send Article via Email

REGISTERED USERS (Free!):
Can forward to 6 email addresses at a time. Register or Login

Registered users also get the additional advantage of Co-branded Emails and Landing Pages. Learn more about these features.

Your Name: 
Your Email: 
I want to forward this to
(Enter Email Address Below) :
Include a Personal Message (optional)

Please add 4 and 5 and type the answer here:
Leave this field blank.
Email Preview Below:
This feature is now 100% free. Learn More About Co-branded Email and our other Co-branded Services.
 
This email was sent to you by:
Harry Chriest |
Mortgage News Daily

Message:   YOUR MESSAGE HERE
Email alerts, such as this one, are a free service provided by Mortgage News Daily. If you would like to receive an alert when important news breaks please register to join our community.
Banks Could Owe HOW MUCH For Fraudulent MBS?
Posted to: Around The Web
Tuesday, February 26, 2013 5:12 AM

Forward this email:  Send a copy of this story to someone you know that may want to read it.

A verdict delivered earlier this month by a prominent federal judge heightens the prospect that the nation's largest financial institutions will be forced to pay as much as $250 billion to compensate investors who bought bundles of fraudulently marketed mortgage-related securities, according to financial and legal experts. The Feb. 5 decision in New York Southern District Court issued by Judge Jed. S. Rakoff involved only one relatively minor lender: Michigan-based Flagstar Bank. Rakoff found that Flagstar had failed to disclose the real risks of the mortgages it was selling, and he ordered the lender to pay $90 million to an aggrieved insurer, Assured Guaranty Municipal Corporation. But experts zeroed in on Rakoff's reasoning as a potentially damaging precedent for other lenders contending


More from MND:

 

If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.

Forward this email:  Send a copy of this story to someone you know that may want to read it.

 

More From MND

Mortgage Rates:
  • 30 Yr FRM 4.21%
  • |
  • 15 Yr FRM 3.32%
  • |
  • Jumbo 30 Year Fixed 4.04%
MBS Prices:
  • 30YR FNMA 4.5 107-29 (0-09)
  • |
  • 30YR FNMA 5.0 110-17 (0-07)
  • |
  • 30YR FNMA 5.5 111-02 (0-06)
Recent Housing Data:
  • Mortgage Apps 2.43%
  • |
  • Refinance Index 4.14%
  • |
  • FHFA Home Price Index 0.67%