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Norton Rose Fulbright and Katten have added to their legal teams
Asset manager wants to offer more products to institutional investors
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Investors at the ABS East conference said regulators are doing right by the industry in demanding increased transparency and reporting in the asset-backed securitization market, a move they say will put the market’s future on more solid footing. -
Assured Guaranty has filed suit against DLJ Mortgage Capital, a unit of Credit Suisse, over losses it suffered because of alleged misrepresentations about the quality of loans underlying six residential mortgage back securities.
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Bank of America has made a motion to disqualify the law firm of Quinn Emanuel Urquhart & Sullivan as counsel to American International Group in its lawsuit against the bank and other financial institutions over alleged misrepresentation of mortgage-backed securities.
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JPMorgan Chase now tops Bank of America as the nation’s largest bank in assets based on third-quarter earnings reports.
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Clayton Holdings has formed a new securitization group, which it says will “helping the private market prepare for the return of non-agency residential mortgage-backed securities.”
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A new mortgage plan being kicked around between big banks and regulators left ABS East attendees with plenty of questions.
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The Swiss Financial Market Supervisory Authority and the U.K. Financial Services Authority are launching a “comprehensive independent” investigation into the events surrounding $2.3 billion of losses at UBS as a result of unauthorized trades.
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Nomura has hired named Munish Varma as global head of structured lending and special situations.
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Bank of America is planning on reducing its work force in New York City by 324 jobs beginning at the end of November as the bank looks to lower expenses after it lost half of its market value.
