Mortgage Securities

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UBS in legal set-back

A UBS unit was found by a federal judge to have violated some contracts with mortgage-backed securities trusts that hold loans, putting it at risk of having to buy back more loans or pay damages in a $2bn lawsuit.

Ex-Nomura traders plead not guilty

Three former Nomura traders are set to go to trial in November on charges that they defrauded investors by inflating the prices of mortgage-backed securities in the wake of the U.S. financial crisis, even as prosecutors wait to find out if a similar case will be thrown out on appeal.

U.S judge rejects HSBC's bid to dismiss lawsuit

A federal judge rejected HSBC's bid to dismiss a U.S. lawsuit claiming that its failure to perform its duties as trustee for $2.37bn of residential mortgage-backed securities contributed to the downfall of five federal credit unions.

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UBS in legal set-back

A UBS unit was found by a federal judge to have violated some contracts with mortgage-backed securities trusts that hold loans, putting it at risk of having to buy back more loans or pay damages in a $2bn lawsuit.