A U.S. judge on Wednesday narrowed but refused to dismiss a Securities and Exchange Commission lawsuit accusing Morningstar Inc. of letting analysts adjust credit rating models for about $30 billion of mortgage securities, resulting in lower payouts to investors. U.S. …
New York state will get $800 million as its share of a national $16.65 billion settlement with Bank of America over its role in the sale of mortgage-backed securities in the run-up to the financial crisis, New York Attorney General …
“Continuing low interest rates and soft economic growth are contributing to a tough investment climate for insurance companies, but they’re still finding opportunities for a decent return if they’re willing to broaden their search,” according to industry executives at Standard …
Morgan Stanley, the sixth-largest U.S. bank by assets, said it may be sued by American International Group Inc. over mortgage-backed securities that the insurer bought before the financial crisis. AIG purchased $3.7 billion in mortgage pass-through certificates that were sponsored …
Assured Guaranty Ltd. and JPMorgan Chase & Co. agreed to settle lawsuits filed by the bond insurer accusing the bank’s EMC Mortgage and Bear Stearns units of making misrepresentations about mortgage-backed securities. Assured Guaranty Corp., a New York-based unit of …
A federal appeals court ruled in favor of American International Group Inc by concluding that the insurer’s $10 billion lawsuit against Bank of America Corp over mortgage losses belongs in state court, not federal court. The 2nd U.S. Circuit Court …
New York Attorney General Eric Schneiderman brought a lawsuit on Tuesday accusing Credit Suisse Group AG of deceiving investors in mortgage-backed securities. Credit Suisse, Switzerland’s second-largest bank, misrepresented the quality of loans underlying residential mortgage-backed securities it sponsored and underwrote …
New York state’s lawsuit against JPMorgan Chase & Co. alleging fraud in mortgage-backed securities sold by Bear Stearns may be one of the broadest cases to come out of the financial crisis, but its impact is likely to be limited. …
The Federal Reserve Bank of New York brought to a close another chapter in the government’s taxpayer-funded bailouts of 2008 with the sale of its remaining assets of insurer American International Group, the bank said on Thursday. The New York …
Walnut Place, an entity that had challenged a proposed $8.5 billion settlement between Bank of America Corp. and investors in failed mortgage-backed securities, has withdrawn its objections to the deal. The development on Monday was a step forward for Bank …
