Latest news
Latest news
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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GE Capital has boosted its U.K. and cross-border structured asset-based lending team by hiring James Simeons as director of corporate originations and structuring.
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Bank of America could face another $9 billion of liability for bad mortgages if a New York judge decides a case in favor of bond insurer MBIA and requires the bank to buy back loans even if the problems in the mortgages did not result in a borrower’s default.
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Bank of America has appointed Ron Sturzenegger as head of Legacy Asset Servicing, the unit that handles delinquent loans, foreclosures and mortgage repurchases.
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Ally Securities is building up its presence in collateralized mortgage obligations, hiring away trader Bruce Graham from BNP Paribas and structurer Chris O’Bara from Normura Securities.
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U.S. District Judge Marian Pfaelzer has handed Bank of America a victory by consolidating eight lawsuits against the bank’s Countrywide Financial unit over mortgage-backed securities.
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Allstate Insurance has filed suit against Goldman Sachs for selling it more than $100 million worth of residential mortgage-backed securities that Allstate claims the investment bank knew were junk.
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Lloyds Banking Group has joined Green Property to recover the value of as much as €1 billion ($1.42 billion) of distressed properties backed by debt from the troubled lender.
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The Federal Reserve is said to be working on capital standards for U.S. banks that will not be stricter than those adopted for global institutions by the Basel Committee for Banking Supervision.
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The U.S. Securities and Exchange Commission has filed suit against Stifel Nicolaus, charging the broker with defrauding five Wisconsin school districts by selling synthetic collateralized debt obligations that were “unsuitably risky and…largely with borrowed money.”