mortgage-backed securities

• 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.

• Space Coast CU’s Mortgage-Backed Securities Suit on Hold

  By Michelle A. Samaad  |  February 8, 2013

  Federal court in Florida says it needs more time to review motions from banks and ratings agencies.

• NCUA Files Suit No. 10 Over Corporates Collapse

  By Marc Rapport  |  January 4, 2013

  J.P. Morgan, others named in sale of $2.2 billion in failed mortgage-backed securities that led to collapse of WesCorp, U.S. Central and Southwest Corporate.

• NCUA Sues Bear Sterns in Largest Corporate Securities Suit Yet

  By Heather Anderson  |  December 17, 2012

  Ninth suit filed so far by NCUA in the sale of toxic mortgage-backed securities to corporate credit unions.

• 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.

• Wachovia Files to Dismiss in NCUA Mortgage Securities Case

  By Heather Anderson  |  April 15, 2012

  Lawyers for Wachovia Capital Markets filed documents in Kansas City Federal Court asking the court to dismiss NCUA’s securities fraud case against the firm now owned by Wells Fargo. Central to Wachovia’s argument is a question that has haunted the NCUA ever since the collapse of U.S. Central FCU: Why...

• 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.

• Goldman Sachs Latest NCUA Suit Target

  By Claude R. Marx  |  August 17, 2011

  The NCUA sued investment bank Goldman Sachs last week, seeking damages of more than $491 million and alleging misrepresentations by the firm when selling mortgage-backed securities to U.S Central and Western Corporate credit unions.