Nomura and RBS await judge ruling on FHFA mortgage lawsuit

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The U.S. Supreme Court declined on Monday to hear an appeal brought by Nomura Holdings Inc and the Royal Bank of Scotland Group PLC seeking to overturn an order requiring them to pay $839 million.

Judge Cote, who presided over a nonjury trial, said the FHFA was entitled to judgment against Nomura and the Royal Bank of Scotland P.L.C., which underwrote some of the $2 billion in mortgage.

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– The Federal Housing Finance Agency (FHFA), as conservator of Fannie Mae and Freddie Mac, today announced it has reached a settlement with Royal Bank of Scotland Group plc, related companies and specifically named individuals (collectively RBS) for $5.5 billion. The settlement resolves all claims in the lawsuit FHFA v.

 · For plaintiff Federal Housing Finance Agency: Philippe Z. Selendy, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY. For defendants Nomura Holding America, Inc.

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Nomura Holdings and Royal Bank of Scotland Group may face US$500 million in damages for what a judge called an "enormous" deception in the sale of defective mortgage-backed securities, a ruling.

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 · In a court filing, a lawyer for the US’s FHFA demanded that RBS and Nomura, another of the banks involved, post bonds to guarantee payment of.

The award stemmed from a lawsuit brought against Nomura and RBS by the Federal Housing Finance Agency in 2011. The FHFA has acted as conservator of mortgage agencies Fannie Mae and Freddie Mac since their 2008 takeover by the federal government after the collapse of the U.S. housing market.

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Nomura Tells 2nd Circ. $806M FHFA Case Needs New Judge. By. but Nomura and RBS battled the FHFA in court, with Judge Cote ruling in May 2015 that the two banks were liable for selling shoddy.

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Cote, who presided over a non-jury trial, said the FHFA was entitled to judgment against Nomura and the Royal Bank of scotland plc (rbs.L), which. correctly describe the mortgage loans,” the judge.

Royal Bank of Scotland Loses Bid to Have FHFA’s MBS Suit Dismissed

NEW YORK, May 11 (Reuters) – A U.S. judge. RBS declined comment. The lawsuit was the first to reach trial out of 18 the regulator filed in 2011 over some $200 billion in mortgage-backed securities.

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