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U.S regulator to sue over mortgage security
tifosi
Posts: 485 Forumite
U.S. Is Set to Sue a Dozen Big Banks Over Mortgages
By NELSON D. SCHWARTZ
Published: September 1, 2011
The federal agency that oversees the mortgage giants Fannie Mae and Freddie Mac is set to file suits against more than a dozen big banks, accusing them of misrepresenting the quality of mortgage securities they assembled and sold at the height of the housing bubble, and seeking billions of dollars in compensation.
See HERE for full story
Let's hope our regulators follow suit, it's about time!
By NELSON D. SCHWARTZ
Published: September 1, 2011
The federal agency that oversees the mortgage giants Fannie Mae and Freddie Mac is set to file suits against more than a dozen big banks, accusing them of misrepresenting the quality of mortgage securities they assembled and sold at the height of the housing bubble, and seeking billions of dollars in compensation.
See HERE for full story
Let's hope our regulators follow suit, it's about time!
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Congratulations to all who have got their PPI back!
:T
Congratulations to all who have got their PPI back!
:T
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Comments
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... and what about the regulators allowing insurers to offer credit default swaps with absolutely no collateral simply based on their Triple A rating?
That made the situation worse.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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