Re: ¿El regreso de Fannie Mae (FNMA) y Fredie Mac (FMCC)?
Re: ¿El regreso de Fannie Mae (FNMA) y Fredie Mac (FMCC)?
Re: ¿El regreso de Fannie Mae (FNMA) y Fredie Mac (FMCC)?
US judge rules for FHFA over Nomura in mortgage bond lawsuit
Mon May 11, 2015 12:54pm EDT
NEW YORK, May 11 (Reuters) - A federal judge on Monday ruled that Nomura Holdings Inc misled Fannie Mae and Freddie Mac by making false statements about the quality of mortgages that backed securities it sold.
U.S. District Judge Denise Cote in Manhattan ruled in favor of the Federal Housing Finance Agency, the conservator for Fannie Mae and Freddie Mac, following a non-jury trial that ended last month.
"The offering documents did not correctly describe the mortgage loans," the judge wrote in a 361-page decision. "The magnitude of falsity, conservatively measured, is enormous."
(Reporting by Jonathan Stempel in New York; Editing by Chizu Nomiyama)
Re: ¿El regreso de Fannie Mae (FNMA) y Fredie Mac (FMCC)?
Re: ¿El regreso de Fannie Mae (FNMA) y Fredie Mac (FMCC)?
Re: ¿El regreso de Fannie Mae (FNMA) y Fredie Mac (FMCC)?
Taking a new line of attack, the government has asked a federal court to dismiss a lawsuit filed by Fairholme Funds over Fannie Mae and Freddie Mac.
According to the government plea, Fairholme purchased its shares in the GSEs after implementation of Treasury's 2012 arrangement to sweep all the GSE profits. The government points out a federal court ruled a developer couldn't sue over an environmental regulation because it purchased the land in question after an EPA decision ended any chance of development.