Nomura Asset Acceptance Corporation and Nomura Home Equity Loan, Inc. have agreed to pay more than $3 million to settle claims with the NCUA in connection with the sale of faulty residential mortgage-backed securities to two corporate credit unions, according to the agency.
"Every recovery NCUA makes through our legal efforts reduces the possibility of further costs of the corporate resolution being shouldered by credit unions," NCUA Board Chairman Rick Metsger said.
The settlement covers claims the NCUA board made in 2011 as the liquidation agent for the Western Corporate Federal Credit Union and U.S. Central Federal Credit Union.
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