{"id":5796,"date":"2015-04-09T00:00:00","date_gmt":"2015-04-09T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2015\/04\/uss_1b_mortgage_bond_trial_aga"},"modified":"2022-05-06T15:41:34","modified_gmt":"2022-05-06T20:41:34","slug":"uss-1b-mortgage-bond-trial-aga","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/uss-1b-mortgage-bond-trial-aga\/","title":{"rendered":"U.S.’s $1B Mortgage Bond Trial Against Nomura Holdings Comes to a Close"},"content":{"rendered":"\n

Closing arguments took place this week in the Federal Housing Finance Agency\u2019s mortgage-backed securities lawsuit<\/a> against Nomura Holdings Inc. (NMR). The U.S. regulator claims that the bank made false statements when selling some $2 billion in MBSs to Freddie Mac (FMCC) and Fannie Mae (FNMA). <\/p>\n

A lawyer for the bank said that FHFA\u2019s claimed losses were not the fault of Nomura or that of Royal Bank of Scotland (RBS), which the government is also pursuing over the securities. Instead, contended the attorney, market conditions during the 2008 economic crisis were to blame.<\/p>\n

The is the first of 18 MBS fraud cases over about $200 million in securities that different banks sold to mortgage finance giants to go to trial. Already, FHFA has gotten $17.9 billion in settlements with the other financial firms, including JPMorgan Chase & Co. (JPM)<\/a>, Bank of America Corp. (BAC)<\/a>, and Deutsche Bank AG (DB). There was just this case and the one against Royal Bank of Scotland remaining.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Closing arguments took place this week in the Federal Housing Finance Agency\u2019s mortgage-backed securities lawsuit against Nomura Holdings Inc. (NMR). The U.S. regulator claims that the bank made false statements when selling some $2 billion in MBSs to Freddie Mac (FMCC) and Fannie Mae (FNMA). A lawyer for the bank said that FHFA\u2019s claimed losses […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3922],"tags":[2906],"class_list":["post-5796","post","type-post","status-publish","format-standard","hentry","category-municipal-bonds","tag-nomura-holdings"],"yoast_head":"\nU.S.'s $1B Mortgage Bond Trial Against Nomura Holdings Comes to a Close — Investor Lawyers Blog — April 9, 2015<\/title>\n<meta name=\"description\" content=\"Closing arguments took place this week in the Federal Housing Finance Agency\u2019s mortgage-backed securities lawsuit against Nomura Holdings Inc. (NMR). 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