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Nomura and RBS await judge ruling on FHFA mortgage lawsuit

NEW YORK (Reuters) – A U.S. judge on Monday ruled that Nomura Holdings Inc (>> Nomura Holdings, Inc.) made false statements in selling mortgage-backed securities to Fannie Mae (>> Federal National Mortgage Assctn Fnni Me) and Freddie Mac (>> federal home loan mortgage corp) ahead of the 2008 financial crisis.

Judge Rules Against Nomura in FHFA Suit Over Sales to Fannie, Freddie. Judge Denise Cote asked the FHFA to propose updated damages to be paid by Nomura and co-defendant RBS Securities Inc.

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Nomura, RBS appeal U.S. judge’s $839 million mortgage bond award. A U.S. appeals court appeared unlikely on Friday to overturn an order requiring Nomura Holdings Inc and Royal Bank of Scotland.

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NEW YORK, May 12 (Reuters) – A U.S. judge. Nomura and RBS (LSE: RBS.L – news) declined to comment. Nomura has said it will appeal Cote’s ruling. The lawsuit was the first to reach trial of 18 filed.

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RBS. FHFA has until May 15 to submit a proposed updated figure for damages but the judge indicated that it would be entitled to $624 million less $178 million it has received since 2011 when the.

– The Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae and Freddie Mac, today announced it has reached a settlement with Royal Bank of Scotland Group plc, related companies and specifically named individuals (collectively rbs) for $5.5 billion. The settlement resolves all claims in the lawsuit FHFA v.

Who Caused The Mortgage Meltdown Earlier this week, Bloomberg Intelligence estimated that the Royal Bank of Scotland Group (NYSE:RBS) will likely shell out $4.5 billion to finally put to rest the lawsuit filed against it by the.

Nomura and Royal Bank of Scotland were censured by a U.S. judge on Monday for allegedly misleading Fannie Mae and Freddie Mac while selling defective mortgage-backed securities.. The court ruling against Nomura and RBS may encourage other banks to settle mortgage-related suits brought by regulators and private investors rather than face the bad publicity and cost of an adverse judgment.

Nomura Tells 2nd circ. 6m fhfa case Needs New Judge. By. but Nomura and RBS battled the FHFA in court, with Judge Cote ruling in May 2015 that the two banks were liable for selling shoddy.

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