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Credit Suisse to pay $885 mn over US mortgage bonds

Swiss bank Credit Suisse agreed Friday to pay $885 million to settle US charges it sold shoddy mortgage bonds to Fannie Mae and Freddie Mac ahead of the financial crisis. Credit Suisse will pay about $651 million to Fannie and $234 million to Freddie, said the Federal Housing Finance Agency, the conservator of the two companies rescued by government during the 2008 financial crisis. The FHFA said the settlement resolves all of its claims in two lawsuits against Credit Suisse.

Credit Suisse to pay $885 mn over US mortgage bonds

Swiss bank Credit Suisse agreed Friday to pay $885 million to settle claims that it misled mortgage giants Fannie Mae and Freddie Mac in the sale of mortgage-backed securities. Credit Suisse will pay about $651 million to Fannie and $234 million to Freddie, the sibling institutions that the US government seized amid the 2008 financial crisis to prevent their collapse The Federal Housing Finance Agency, which oversees the two, said the settlement resolves all claims in its lawsuit against Credit Suisse.

Credit Suisse to pay $885 mn over US mortgage bonds

Swiss bank Credit Suisse agreed Friday to pay $885 million to settle claims that it misled mortgage giants Fannie Mae and Freddie Mac in the sale of mortgage-backed securities. Credit Suisse will pay about $651 million to Fannie and $234 million to Freddie, the sibling institutions that the US government seized amid the 2008 financial crisis to prevent their collapse The Federal Housing Finance Agency, which oversees the two, said the settlement resolves all claims in its lawsuit against Credit Suisse.

Credit Suisse to pay $885 million in FHFA mortgage fraud case

By Nate Raymond and Silke Koltrowitz NEW YORK/ZURICH (Reuters) - Credit Suisse Group AG <CSGN.VX> agreed to pay $885 million to resolve claims by a U.S. regulator that the Swiss bank misled Fannie Mae <FNMA.OB> and Freddie Mac <FMCC.OB> into buying mortgage-backed securities that later went sour. The settlement announced on Friday would resolve claims in two lawsuits filed in New York by the Federal Housing Finance Agency (FHFA), the conservator since 2008 for the government-controlled mortgage companies.

U.S. housing bill would cut mortgage access for minorities, groups warn

By Margaret Chadbourn WASHINGTON (Reuters) - A Senate proposal to overhaul the U.S. housing finance system would make mortgages more expensive and less available, especially in minority communities, a coalition of consumer advocates and civil rights groups warned on Friday.

Credit Suisse to pay $885 mn over US mortgage bonds

Swiss bank Credit Suisse agreed Friday to pay $885 million to settle claims that it misled mortgage giants Fannie Mae and Freddie Mac in the sale of mortgage-backed securities. Credit Suisse will pay about $651 million to Fannie and $234 million to Freddie, the sibling institutions that the US government seized amid the 2008 financial crisis to prevent their collapse

Credit Suisse to pay $885 mn over US mortgage bonds

Swiss bank Credit Suisse agreed Friday to pay $885 million to settle claims that it misled US mortgage-finance giants Fannie Mae and Freddie Mac in the sale of mortgage-backed securities. Credit Suisse will pay about $651 million to Fannie Mae and $234 million to Freddie Mac, the sibling institutions that the US government seized amid the 2008 financial crisis to prevent their collapse. vs/pmh

Credit Suisse to pay $885 mn over US mortgage bonds

Swiss bank Credit Suisse agreed Friday to pay $885 million to settle claims that it misled US mortgage-finance giants Fannie Mae and Freddie Mac in the sale of mortgage-backed securities. Credit Suisse will pay about $651 million to Fannie Mae and $234 million to Freddie Mac, the sibling institutions that the US government seized amid the 2008 financial crisis to prevent their collapse. vs/pmh

TransUnion: Many US homeowners now prioritizing mortgage payments ahead of credit cards

LOS ANGELES, Calif. - Many U.S. homeowners are once again giving priority to their mortgage payments over keeping up with their credit card bills. That's the conclusion of a study released Wednesday by credit reporting agency TransUnion. The firm examined late-payment rates of mortgages, credit cards and auto loans between 2003 and 2013 among consumers with the three types of financial obligations. The study found consumers began falling behind on their credit card payments at a greater rate than their mortgage payments last September.

Monitor: Relief from 4 big banks has helped 600,000 borrowers; Satisfy robo-signing settlement

WASHINGTON - The nation's four biggest banks have slashed billions of dollars from mortgages and other debts, enough to satisfy their obligations under a national mortgage settlement that stemmed from so-called robo-signing. A report on Tuesday from the monitor overseeing the settlement says Bank of America Corp., JPMorgan Chase The February 2012 settlement was prompted by disclosures that some mortgage-servicing companies had processed foreclosures without verifying documents.
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