UBS AG lost a bid Tuesday to dismiss a whistle-blower lawsuit by a former commercial mortgage-backed securities strategist who said he was fired for refusing to publish misleading research reports.
A federal judge has revived a closely watched lawsuit accusing JPMorgan Chase & Co of misleading Belgian-French bank Dexia SA into buying more than $1.6 billion of troubled mortgage debt.
The Federal Reserve bought $17.3 billion of agency mortgage-backed securities from May 9 through May 15, a tad less than the $17.8 billion it purchased last week, the New York Federal Reserve Bank said on Thursday.
Representative Mel Watt, nominated by President Barack Obama to serve as a top housing regulator, plans to divest bank stock he owns if confirmed in the post, according to a statement filed with the Office of Government Ethics.
An improving U.S. housing market suggests it is time for the Federal Reserve to stop aiming its stimulus at the real estate sector, Richmond Fed President Jeffrey Lacker said on Wednesday.
Bank of America Corp has fired back at New York Attorney General Eric Schneiderman after he threatened to sue the bank for violating the terms of a $25 billion settlement designed to end mortgage servicing abuses.
Bank of America Corp will sell a commercial mortgage servicing rights portfolio valued at around $110 billion to a KeyCorp unit for an undisclosed amount, the latest offloading of servicing assets which many big banks consider costly to collect on.
A federal judge ruled on Wednesday that the United States can pursue parts of a civil lawsuit against Bank of America Corp (BAC.N) over its sale of toxic mortgages to Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB), boosting a largely untested legal theory the government used in the case.
The U.S. Federal Reserve bought $15.1 billion of agency mortgage-backed securities from April 25 through May 1, matching the amount it purchased last week, the New York Federal Reserve Bank said on Thursday.
The U.S. Justice Department has promptly capitalized on a court victory to bolster a case before another federal judge, citing a ruling on Wednesday that endorsed the agency's use of a little known financial fraud law to prosecute bank actions during the financial crisis.