A Credit Suisse AG unit on Monday asked a New York judge to "disregard" an attempt at disrupting its recent settlement with Assured Guaranty Corp. over soured residential mortgage-backed.
and assured the Northbrook, Illinois-based insurer that the loans conformed with “conservative” underwriting standards and that the appraisals of the mortgage properties were accurate, the lawsuit.
Nearly two-thirds of Americans sense double-dip recession "Nearly two-thirds of Americans believe the economy has yet to hit bottom, a sharply higher percentage than the 53% who felt that way in January," according to a recent Wall Street Journal poll.
· Credit Suisse Group AG has reached a confidential settlement with Assured Guaranty Ltd on claims related to what the insurer said were defective loans underlying mortgage-backed securities, court.
Ambac’s lawsuit claimed Credit Suisse Securities, along with its affiliate DLJ Mortgage Capital, misled the insurer about a pool of over 2,000 home equity lines of credit with a principal balance of about 0 million. ambac said the defendants did not disclose that many borrowers had little or no ability to repay.
Assured Monday afternoon filed a lawsuit against Credit Suisse’s DLJ Mortgage Capital, claiming breach of contract over $1.8 billion of mortgage-backed securities it insured.
· Assured Guaranty said it had filed to dismiss its lawsuit against Credit Suisse, according to a statement on its website. U.S. Bank National Association, which acts as a trustee for the six residential mortgage-backed securities that were at issue, filed a motion with the New York Supreme Court objecting to the confidential settlement.
Loan applications decline as mortgage interest rates skyrocket Home equity loan and second mortgage applications volumes have been increasing as the number of first mortgage refinance applications have been decreasing. An article in the San Diego Union Tribune, shows higher interest rates stopping prospective home buyers from signing on the bottom line.
(Reuters) – Credit Suisse Group AG (CSGN.VX) has reached a confidential settlement with Assured Guaranty Ltd (AGO.N) on claims related to what the insurer said were defective loans underlying mortgage.
Triad’s subsidiary Triad Guaranty Insurance Corp. provides private mortgage. faces another lawsuit currently pending in the U.S. District Court for the Middle District of Florida brought by a.
A Credit Suisse Group AG unit was sued by over securitized mortgage loans for which Assured Guaranty Ltd. guaranteed payments to. Assured has chosen to file a lawsuit to evade its insurance.
· Credit Suisse Group AG settled a three-year-old lawsuit by Assured Guaranty Ltd. accusing the bank of misrepresenting the quality of loans in mortgage-backed securities it insured.
HUD: Robo-signing settlement to accelerate principal reductions Regulation X Real estate settlement procedures Act – The Real Estate Settlement Procedures Act of 1974 (RESPA) (12 U.S.C. 2601 et seq.) (the act) became effective on June 20, 1975. The act requires lenders, mortgage brokers, or servicers of home loans to provide borrowers with pertinent and timely disclosures regarding the nature and costs of the real estate settlement process. The act alsoREO sales may not peak until 2013 But he added, “It would not surprise. of total foreclosure sales, which typically results in a higher selling price than would occur at auction. Otteau says 6,904 homes were in foreclosure in New.Move appoints first-ever chief data officer MOVES-Deutsche Bank appoints first chief data officer. LONDON, Nov 10 (IFR) – Deutsche Bank has appointed JP Rangaswami as its first-ever chief data officer, a role that will involve standardising the firms’s processes, tools and governance around information to support its digital strategy. Rangaswami will join in January from Salesforce,
Credit Suisse plans to fight $10 billion toxic mortgage lawsuit Credit Suisse books $80 million to settle RMBS litigation with MassMutual Jacob Gaffney is the Editor-in-Chief of HousingWire and.
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