A UBS affiliate has beaten a lawsuit, that had alleged that it hid the quality of $1.1bn in residential loans behind mortgage-backed securities; a judge ruled that the suit had been fired too late. The case was brought by the Federal Housing Finance Agency (FFFA), which is part of HUD and oversees Fannie Mae and Freddie Mac, two government-sponsored mortgage finance companies.
A UBS affiliate has beaten a lawsuit, that had alleged that it hid the quality of $1.1bn in residential loans behind mortgage-backed securities; a judge ruled that the suit had been fired too late. The case had been made against UBS Real Estate Securities.