Justice Department Unit Issues Subpoenas in Mortgage Fraud Inquiry – New York Times
WASHINGTON — A new law enforcement group examining securities fraud from the housing bubble and financial crisis has already issued civil subpoenas to 11 financial companies for information related to their actions in the market for …
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On Monday, the Federal Housing Finance Agency (FHFA) announced that it has issued 64 subpoenas seeking documents related to private-label mortgage-backed securities in which government enterprises, Fannie Mae and Freddie … Go to Source…
Since the government took over Fannie Mae and Freddie Mac , taxpayers have spent more than $160 million defending the mortgage finance companies and their former top executives in civil lawsuits accusing them of fraud. The cost was a closely guarded secret … Go to Source…
… related assets, including mortgage-backed securities (”RMBS”) issued by Fannie Mae or Freddie Mac (each an “Agency”) and high credit quality residential adjustable rate mortgage (”ARM”) loans, and to a lesser extent, in certain alternative real … Go to Source…
… related assets, including mortgage-backed securities (”RMBS”) issued by Fannie Mae or Freddie Mac (each an “Agency”) and high credit quality residential adjustable rate mortgage (”ARM”) loans, and to a lesser extent, in certain alternative real … Go to Source…
With the U.S. housing market down, mortgage fraud is up – and New York is near the top of the heap when it comes to getting fleeced, a new FBI report said. Mortgage fraud schemes were on the rise in 2010, the last year for which data is available, as a … Go to Source…
The Securities and Exchange Commission has charged six former top executives at Fannie Mae and Freddie Mac with civil fraud, saying they misled the government and taxpayers about risky subprime mortgages the mortgage giants held during the housing bu Go to Source…
The Securities and Exchange Commission has charged six former top executives at Fannie Mae and Freddie Mac with civil fraud, saying they misled the government and taxpayers about risky subprime mortgages the mortgage giants held during the housing bu Go to Source…
Bank of America announced on Monday that it had paid more than $2.5 billion to buy back troubled mortgages and resolve related claims from Fannie Mae and Freddie Mac — deals that may prompt a wave of such settlements by big banks. The agreements center … Go to Source…
… more are examining how banks created, rated, sold and traded mortgage securities that turned out to be some of the worst investments … a global settlement akin to the 2002 agreement related to stock research. Indeed, Wall Street executives are … Go to Source…
U.S. regulators subpoenaed JPMorgan Chase, Citigroup, Bank of America, Goldman Sachs Group and Wells Fargo, seeking information on the banks’ role in bundling mortgages for sale to investors, a person familiar with the matter said. The Securities and … Go to Source…
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