Nick Timiraos, Wall Street Journal The White House has begun preparations to nominate a new director to lead the agency that oversees Fannie Mae and Freddie Mac as soon as early next year, according to people familiar with the discussions. This would pave the way for President Barack Obama to fill what has become one of the […]
Jessica Dye, Reuters A U.S. judge on Monday ruled in favor of a federal regulator wishing to use statistical sampling in its lawsuits against big banks including Credit Suisse Group AG and Bank of America Corp over allegations they misled Fannie Mae and Freddie Mac into purchasing billions of dollars of risky mortgage debt. U.S. District Judge […]
Brian Browdie, American Banker A series of lawsuits that charge some of the nation’s biggest banks with misleading investors in connection with the sale of hundreds of billions of dollars of mortgage-backed securities may come down to a question of timing. The U.S. Court of Appeals for the 2nd Circuit on Monday was slated to […]
Edvard Pettersson, Bloomberg Bank of America Corp.’s Merrill Lynch & Co. unit must face a lawsuit by the Federal Housing Finance Agency, the conservator for Fannie Mae and Freddie Mac, over mortgage-backed securities sold by the investment bank. U.S. District Judge Denise Cote in New York yesterday denied Merrill’s request to dismiss the FHFA’s securities law and […]
Kimberly Miller, Palm Beach Post Floridians who lose a home to foreclosure may be more doggedly pursued for their unpaid mortgage debt after a federal audit that says lender losses can be recovered by demanding payback. That kind of collection process, called a deficiency judgment, is allowed in Florida, but has so far been rare. […]
Speak to a specialist at (888) 737-6344