MBS

• Judge Orders Stay of Proceedings in Eight NCUA MBS Suits

  By Heather Anderson  |  April 30, 2013

  Kansas City judge says he'll wait for appeals court decision on bid to dismiss claims over failed securities.

• California Congressman Goes After NCUA Over Contingency Pact With Outside Lawyers

  By Heather Anderson  |  October 26, 2012

  Rep. Darrel Issa (R-Calif.) asks if executive order violated. NCUA pays lawyers more than $40 million of $170 million in Wall Street settlements.

• Credit Suisse Joins Lineup of NCUA MBS Targets

  By Marc Rapport  |  October 4, 2012

  Calling it one more bait-and-switch operator, the NCUA sues Credit Suisse Securities in the collapse of corporate credit unions.

• NAFCU, Mortgage Bankers Oppose Eminent Domain-Forced Mortgage Restructures

  By Heather Anderson  |  September 7, 2012

  FHFA seeking comment on possibility of allowing seizure, sale of residential mortgages.

• Game Over for NCUA MBS Suits?

  By Robert McGarvey  |  December 23, 2011

  Preliminary ruling says statute of limitations expired.

• J.P. Morgan Asks for Dismissal of Suit By NCUA

  By Claude R. Marx  |  November 1, 2011

  Investment house says it informed corporates of risk.

• NCUA Files Another MBS Lawsuit

  By Claude R. Marx  |  July 24, 2011

  The NCUA has sued RBS Securities for $685 million, alleging that that firm misled Western Corporate FCU (WesCorp) when it sold it mortgage-backed securities.

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  NCUA Suit Seeks Bank Payback on Corporate MBS

  By Robert McGarvey  |  June 27, 2011

  Reactions to the $800 million in lawsuits filed June 20 by NCUA against J.P. Morgan Securities and RBS Securities over what NCUA claims were fraudulently packaged mortgage- backed securities heated up as experts debated exactly what is going on and what the litigation means to credit unions.

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  Will NCUA Suit Force Banks to Settle?

  By Claude R. Marx  |  June 27, 2011

  See you in court. After failing to reach an agreement with two of the largest investment bank to recover losses from mortgage-backed securities sold to corporate credit unions, the NCUA last week filed civil lawsuits against RBS Securities, a Royal Bank of Scotland unit, and J.P. Morgan Securities. The agency is...