Nomura found liable for selling toxic mortgages to Fannie, Freddie

Feds sue big banks over mortgage securities.. which oversees mortgage buyers Fannie Mae and Freddie Mac, filed the lawsuit friday seeking seeks compensation for more than $41 billion of losses.

In May after a two-month non-jury trial, U.S. Judge Denise Cote found Nomura and RBS liable for its. in Connecticut over the selling of about $32 billion worth of faulty mortgage-backed securities.

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The nearly two-month long court battle between the Federal Housing Finance Agency (FHFA) and Nomura Holdings came to an end Monday when a federal judge found the bank liable for selling shoddy.

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A U.S. judge’s ruling that Nomura Holdings Inc and Royal Bank of Scotland Group Plc made false statements selling mortgage-backed securities to Fannie Mae and Freddie Mac could result in a.

Nomura Holdings Inc. and Royal Bank of Scotland Group PLC will pay an extra $33 million on top of $806 million in damages against them for selling risky mortgage securities to Fannie Mae and.

The nearly two-month long court battle between the Federal Housing Finance Agency and Nomura Holdings came to an end Monday when a federal judge found the bank liable for selling shoddy mortgages.

To date, it is one of the only suits brought against a U.S. bank over toxic mortgages to go to trial. In fall 2013 , after a four-week trial, a federal jury in Manhattan found Bank of America liable for fraud in connection with the faulty mortgages.

A U.S. judge on Monday ruled that Nomura Holdings Inc made false statements in selling mortgage-backed securities to Fannie Mae and Freddie Mac ahead of the 2008 financial crisis. U.S. District Judge Denise Cote in Manhattan ruled for the Federal Housing Finance Agency, the conservator for Fannie

Nomura found liable for selling toxic mortgages to Fannie, Freddie Created: Monday, 11 May 2015 10:06 | Email A federal judge ruled Monday that Nomura Holdings ( NMR ) misled fannie mae and Freddie Mac made false representations about the quality of mortgages that were used to back $2 billion securities it sold to the GSEs.