Bond insurer Ambac Financial Group Inc. cannot prove its $2.7 billion case against Bank of America over troubled mortgage-backed securities on evidence that BofA was a “bad actor” before the 2008 financial crisis, an attorney for the bank said on …
David Burt helped two of the protagonists of Michael Lewis’ book The Big Short bet against the U.S. mortgage market in the run-up to the 2008 financial crisis. Now he’s betting against the market again, but this time, the risk …
(Reuters) – The U.S. Supreme Court declined on Monday to hear an appeal brought by Nomura Holdings Inc. and the Royal Bank of Scotland Group PLC seeking to overturn an order requiring them to pay $839 million for making false …
Prudential Financial Inc. agreed to dismiss its claims that Goldman Sachs Group Inc. engaged in fraud and racketeering in selling $375 million of residential mortgage-backed securities, a court order shows. U.S. District Judge Susan Wigenton signed a dismissal order yesterday …
Deutsche Bank AG and Allstate Corp. settled a suit the insurer brought that accused the bank of misrepresentations and omissions in connection with loans backing $185 million in mortgage securities. Allstate sued the Frankfurt-based lender in New York state Supreme …
Standard & Poor’s and its parent company McGraw Hill Financial Inc. on Thursday won a ruling that moves 15 lawsuits in which they were accused of fraudulently inflating credit ratings to a single federal court. The U.S. Judicial Panel on …
American International Group Inc. has agreed to end litigation against the Federal Reserve Bank of New York over whether the insurer retained the right after its 2008 taxpayer-funded bailout to sue over losses on residential mortgage-backed securities. In a May …
The New York and Delaware attorneys general and the U.S. housing regulator on Friday dropped their objections to Bank of America Corp.’s proposed $8.5 billion settlement with investors in Countrywide mortgage-backed securities, according to court filings. Other parties, including American …
Barely two weeks after the big subprime lender New Century Financial Corp. went bankrupt, a top Standard & Poor’s executive assured Congress that her employer could be counted on to sound the alarm for the next credit disaster. S&P ratings …
