New York-based credit ratings agency Standard & Poor's is close to a $1 billion settlement with the U.S. Department of Justice over the misrepresentation of mortgage-backed securities to investors in the years leading up to the financial crisis in 2008, according to multiple media reports.
Read More »Republicans Request More Information from Justice Department on MBS Settlements
Republican lawmakers are requesting more information from the U.S. Department of Justice on settlements in the past year with Bank of America and Citigroup over the sales and packaging of mortgage-backed securities, according to a press release from the U.S. House of Representatives Judiciary Committee.
Read More »HUD OIG: Past Year’s Investigations of Lenders Have Netted Significant Settlements
The Office of Inspector General for the U.S. Department of Housing and Urban Development (HUD OIG) announced that civil investigations of some of the Federal Housing Administration's (FHA) largest lenders have resulted in significant settlements in the last year.
Read More »Louisiana Housing Discrimination Lawsuit Settled
A settlement has been reached in a housing discrimination lawsuit filed by the U.S. Department of Justice against the Louisiana State Bond Commission, the department announced recently.
Read More »Obama Administration Applauds Bank of America Settlement
Obama administration officials praised Thursday's $16.65 billion settlement between Bank of America and the U.S. Department of Justice, $7 billion of which will go to provide consumer relief to assist those distressed by the collapse of the housing market in 2008.
Read More »Bank of America Settles Claims for Record $16 Billion
Bank of America announced Thursday morning it has agreed to pay a record $16.65 billion to resolve claims related to the sale of toxic mortgage-backed securities during the years leading up the financial crisis.
Read More »