Subscribe to the print edition of National Mortgage Professional MagazineSubscribe to our RSS feedFollow us on TwitterGet daily updates via emailJoin us on Facebook

Goldman Sachs

Seventeen Million Dollar Mansion Flipped in Four Months for $35 Million


In one of the fastest and priciest turnovers in property-flipping history, a historic New York City townhouse, The Arthur Sachs House, that was purchased for $17 million in July is now back on the market for Click to continue

FirstService Residential Names Scott Lang SVP of Finance for the Mid-Atlantic Region


FirstService Residential has announced the addition of Scott Lang as senior vice president of finance for the Mid-Atlantic Region where he will be responsible for driving revenue enhancement and cost control initiatives across the region. Additionally, he will be responsible for providing leadership and oversight to the company's corporate accounting, client accounting, human resources and legal groups.Click to continue

FHFA Reaches $3.15 Billion MBS Settlement With Goldman Sachs


The Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae and Freddie Mac, has announced it has reached a settlement with Goldman Sachs, related companies and certain named individuals. The settlement addresses claims alleging violations of federal and state securities laws in connection with private-label mortgage-backed securities (PLS) purchased by Fannie Mae and Freddie Mac between 2005 and 2007.Click to continue

NCUA Files Suits Against Nine Firms Over Bad MBS

Cherry Red Gavel/Credit: Comstock

The National Credit Union Administration (NCUA) has filed nine lawsuits in Federal District Court in New York against Morgan Stanley & Co., Inc. and eight other institutions over the sale of nearly $2.4 billion in mortgage-backed securities (MBS) to Southwest and Members United corporate credit unions.Click to continue

Check's In the Mail: Four Million-Plus Borrowers to Receive Servicing Settlement Payouts


Payments to 4.2 million borrowers are scheduled to begin on April 12 following an agreement reached by the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board with 13 mortgage servicers. The agreement, which was reached earlier this year, provides $3.6 billion in cash payments to borrowers whose homes were in any stage of the foreclosure process in 2009 or 2010 and whose mortgages were serviced by one of the following companies, their affiliates, or subsidiaries: Aurora, Bank of America, Citibank, Goldman Sachs, HSBC, JPMorgan Chase, MetLife Bank, Morgan Click to continue

Goldman Sachs and Morgan Stanley Reach Agreement With Federal Reserve on Servicing Practices

Handshake Shadow Pic

Goldman Sachs and Morgan Stanley have reached agreements in principle with the Federal Reserve Board to pay $557 million in cash payments and other assistance to help mortgage borrowers. These agreements are similar to those announced on Jan. 7, 2013, between 10 mortgage servicing companies and the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board. Like the other institutions, Goldman Sachs and Morgan Stanley were subject to enforcement actions for deficient practices in mortgage loan servicing and foreclosure processing.Click to continue

Brooke Aguilar Joins Platinum Data as SVP of Sales and Marketing


Platinum Data has announced the addition of former CoreLogic executive Brooke Aguilar as the company’s new senior vice president of sales and marketing for the mortgage lending channel. Aguilar will leverage 11 years of mortgage industry experience, which includes five years with CoreLogic, to build out a sales and marketing division that helps the company achieve its goals for significantly increasing its market share among mortgage lenders.Click to continue

NCUA Files Suit Against Wachovia

Courtroom Pic

The National Credit Union Administration (NCUA) has filed suit in Federal District Court in Kansas against Wachovia and its subsidiaries alleging violations of federal and state securities laws and misrepresentations in the sale of securities to now-failed U.S. Central Federal Credit Union (U.S. Central) and Western Corporate Federal Credit Union (WesCorp).Click to continue

FHFA Takes Legal Action Against 17 Firms to Recoup GSE Losses

Black Gavel Pic/Credit: Brand X Pictures

The Federal Housing Finance Agency (FHFA), as conservator to the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, has filed lawsuits against 17 financial institutions, certain of their officers and various unaffiliated lead underwriters. The suits allege violations of federal securities laws and common law in the sale of residential private-label mortgage-backed securities (MBS) to the GSEs.

Complaints have been filed against the following lead defendants:Click to continue