Nomura and RBS await judge ruling on FHFA mortgage lawsuit

Nomura and Royal Bank of Scotland were censured by a U.S. judge on Monday for allegedly misleading Fannie Mae and Freddie Mac while selling defective mortgage-backed securities.. The court ruling against Nomura and RBS may encourage other banks to settle mortgage-related suits brought by regulators and private investors rather than face the bad publicity and cost of an adverse judgment.

A federal judge said Nomura Holdings Inc. wasn’t truthful in its descriptions of mortgages underlying securities sold to Fannie Mae and Freddie Mac, giving a victory to the companies.

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NEW YORK (Reuters) – A U.S. judge on Monday ruled that Nomura Holdings Inc (>> Nomura Holdings, Inc.) made false statements in selling mortgage-backed securities to Fannie Mae (>> Federal National Mortgage Assctn Fnni Me) and Freddie Mac (>> Federal Home Loan Mortgage Corp) ahead of the 2008 financial crisis.

Federal Housing Finance Agency v. HSBC North America Holdings Inc. et al, No. 1:2011cv06189 – Document 949 (S.D.N.Y. 2014) case opinion from the Southern.

Submit comments and provide input on FHFA Rules Open for Comment by clicking on Rulemaking and Federal Register.. Home / Media / FHFA Sues 17 Firms to Recover Losses to Fannie Mae and Freddie mac.. nomura holding america Inc.

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The ruling in the FHFA case against Nomura Securities and RBS: the essentials Posted on 13 May 2015 by Drew Shagrin In the summer of 2008, primarily to address the subprime mortgage crisis, the US Congress passed, and President Bush signed, the Housing and Economic Recovery Act of 2008.

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a New York federal judge on Monday found Nomura Holdings Inc. liable for selling sub-standard mortgage bonds to Fannie Mae and Freddie Mac before the 2008 financial crisis, ruling in favour of the.

Nomura, RBS and the FHFA declined comment before trial. The banks’ decision to go to trial contrasts with competitors, who cut settlements for nearly $17.9 billion following a series of adverse.

NEW YORK (Reuters) – A U.S. judge on Monday ruled that Nomura Holdings Inc made false statements in selling mortgage-backed securities to Fannie Mae and Freddie Mac ahead of the 2008 financial crisis.. finds Japanese bank lied when it sold mortgage-backed securities to Fannie Mae and Freddie Mac. it received since launching the lawsuit in.