Former Fannie execs denied dismissal of subprime fraud suit

Fraud is. and two other former executives of what had been the biggest U.S. mortgage lender showed their awareness that the high-risk subprime loans being sold were toxic and flirting with failure..

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UBS Wins Dismissal of Fraud Claim in HSH Nordbank Suit UBS AG won dismissal of a fraud claim filed against the bank by HSH Nordbank AG over losses on a collateralized debt obligation linked to the U.S.

Former Fannie Mae ceo daniel mudd has urged a federal judge to dismiss a lawsuit filed against him by the Securities and Exchange Commission (SEC) accusing Mudd of shielding risky subprime loans from investors in the years immediately before the financial crisis hit in 2008.

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Fallout from SEC Charges Against Ex-Execs. FBN’s Elizabeth MacDonald breaks down today’s news that the SEC has charged six former Fannie Mae and Freddie Mac executives with fraud, and its impact.

Search CFLA’s Article Archive: Ex-Freddie Execs Lose Bid to Toss SEC Lawsuit. newsandinsight.thomsonreuters.comApr 1, 2013. By Nate Raymond. NEW YORK, March 29 (Reuters) – Former Freddie Mac chief executive Richard Syron and two other one-time executives lost their bid to escape a U.S. regulator’s lawsuit accusing them of misleading investors about the company’s exposure to risky mortgage loans.

Number of Americans in foreclosure plummets: LPS The number of Americans in foreclosure plummeted nearly 25% in April from year-ago levels, according to the latest "First Look" Mortgage Report from lender processing services (lps). The total U.S. foreclosure pre-sale inventory rate reached 3.17% in April, down 24.55% when compared on a year-over-year basis.

Ex-Fannie Mae (FNM) CEO Daniel Mudd, former single family mortgage business EVP Thomas Lund, and ex-chief risk officer Enrico Dallavecchia had sought to have the lawsuit dismissed because they said that the Commission failed to make its case against them. Judge Paul Crotty has denied their motion.

JPMorgan reportedly selling $373M prime new issue RMBS Allegations The lawsuit, filed in the Superior Court of the State of California, accuses Morgan Stanley of bundling and selling. These RMBS comprised of risky loans made by the company’s subsidiary.

 · Freddie Mac defeats lawsuit over pre-crisis disclosures. The 2nd U.S. Circuit Court of Appeals in New York said shareholders failed to connect their losses to the alleged inadequate disclosures by the government-controlled mortgage company and its officials, including former Chief Executive Richard Syron.

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The mother, who did not register Jerome as a resident in the house, was charged with welfare fraud and did a year in jail. 3. Bank of America: The bank teamed up with Countrywide to sell more than $1. That’s because the bank wasn’t a Wall Street firm, a global megabank or a subprime loan factory.