Nomura and RBS await judge ruling on FHFA mortgage lawsuit

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RBS faces large damages bill over ‘enormous’ mortgage deception Judge rules RBS and Nomura made false statements when they sold mortgage-backed securities to Fannie Mae and Freddie Mac

Cote, who presided over a non-jury trial, said the FHFA was entitled to judgment against Nomura and the Royal Bank of Scotland Plc (RBS.L), which. correctly describe the mortgage loans,” the judge.

Lawyers for both banks urged the 2nd U.S. Circuit Court of Appeals in New York to reverse a 2015 ruling that followed a non-jury trial in lawsuit by the Federal Housing Finance Agency (FHFA) over.

A federal judge said Nomura Holdings Inc. wasn’t truthful in its descriptions of mortgages underlying securities sold to Fannie Mae and Freddie Mac, giving a victory to the companies.

Nomura, RBS appeal U.S. judge’s $839 million mortgage bond award.. and Royal Bank of Scotland Group Plc. (FHFA) over mortgage bonds sold before the 2008 financial crisis..

The ruling in the FHFA case against Nomura Securities and RBS: the essentials Posted on 13 May 2015 by Drew Shagrin In the summer of 2008, primarily to address the subprime mortgage crisis, the US Congress passed, and President Bush signed, the Housing and Economic Recovery Act of 2008.

In her 361- page ruling, Judge Denise L. Cote of Federal District Court in Manhattan wrote that the extent of falsity committed by the two banks was "enormous." She told the FHFA to propose how much Royal Bank of Scotland and Nomura should pay in the wake of her decision. The agency had initially sought approximately $1.1 billion.

Nomura, RBS appeal U.S. judge’s $839 million mortgage bond award. Lawyers for both banks urged the 2nd U.S. Circuit Court of Appeals in New York to reverse a 2015 ruling that followed a non-jury.

A little bit of sanity, please A Little Bit of Sanity Author. matj cepl. date 2017-05-28 summary. My pet peeve in all literature is when heroes of a book start to behave like idiots just to keep shaky story line intact.

Judge Cote, who presided over a nonjury trial, said the FHFA was entitled to judgment against Nomura and the Royal Bank of Scotland P.L.C., which underwrote some of the $2 billion in mortgage.

The U.S. Supreme Court declined on Monday to hear an appeal brought by Nomura Holdings Inc and the Royal Bank of Scotland Group PLC seeking to overturn an order requiring them to pay $839 million.