MBS

• WesCorp Defendants Seek to Depose NCUA

  By David Morrison  |  March 4, 2012

  Defendants in the litigation flowing from the liquidation of the Western Federal Corporate Credit Union have served notice that they want to depose the NCUA in the case.

• NCUA Levels Fraud Charges in Amended WesCorp Suit

  By Heather Anderson  |  September 8, 2010

  The NCUA Board, serving as conservator plaintiffs in the Western Corporate FCU lawsuit, filed an amended complaint

• NCUA: Private Label MBS Concentrations Killed WesCorp

  By Heather Anderson  |  September 1, 2010

  Increasing concentrations of non-agency MBS drove Western Corporate FCU to failure, NCUA said in its amended complaint against former directors and officers yesterday in U.S. District Court.

• Constitution Corp Digs Deeper

  By Heather Anderson  |  February 17, 2010

  When Constitution Corporate Federal Credit Union released its December 2009 financials Feb. 8, reporting an inflated $25.2 million prior undivided earnings deficit, the industry wondered if the $1.3 billion corporate was under conservatorship.

• Agency MBS Buyout Could Double Prepayments

  By Heather Anderson  |  February 11, 2010

  Credit unions will have to find another place to invest up to $1 billion worth of agency mortgage backed securities, according to an industry expert.