Nomura and the Royal Bank of Scotland are to pay a further $33m, on top of $806m they have already been ordered to pay by the Federal Housing Finance Agency (FHFA), over allegations that they made false statements in selling mortgage-backed securities regarding mortgage companies Fannie Mae and Freddie Mac. This case is the first to reach trial of the 18 lawsuits that FHFA have filed since Earlier this year over the $200bn of mortgage-backed securities that banks sold to the two mortgage giants.
Nomura and the Royal Bank of Scotland are to pay a further $33m, on top of $806m they have already been ordered to pay by the Federal Housing Finance Agency (FHFA), over allegations that they made false statements in selling mortgage-backed securities regarding mortgage companies Fannie Mae and Freddie Mac. This case is the first to reach trial of the 18 lawsuits that FHFA have filed since 2011 over the $200bn of mortgage-backed securities that banks sold to the two mortgage giants.