{"id":6060,"date":"2016-11-02T09:54:01","date_gmt":"2016-11-02T14:54:01","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1181"},"modified":"2022-03-22T15:06:46","modified_gmt":"2022-03-22T20:06:46","slug":"nomura-pay-3m-settle-rmbs-fraud-claims-brought-ncua-credit-unions","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/nomura-pay-3m-settle-rmbs-fraud-claims-brought-ncua-credit-unions\/","title":{"rendered":"Nomura To Pay Over $3M to Settle RMBS Fraud Claims brought by NCUA for Credit Unions"},"content":{"rendered":"
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\u00a0Nomura Home Equity Loan, Inc. and Nomura Asset Acceptance Corporation have agreed to jointly pay over $3M to settle allegations that they engaged in the sale of faulty residential mortgage-backed securities (RMBS) to the Western Corporate Federal Credit Union and the U.S. Central Federal Credit Union. The National Credit Union Administration brought the RMBS fraud case on behalf of the \u00a0two corporate credit unions.<\/span><\/div>\n
\u00a0<\/span><\/div>\n
It was in 2011 that the NCUA Board,\u00a0<\/span>while serving as liquidating agent for both financial institutions,\u00a0brought the claims against the Nomura entities. The RMBS lawsuit was brought in federal district courts in Kansas and California. <\/span><\/div>\n
<\/div>\n
The $3M settlement dismisses NCUA\u2019s pending cases against the two firms. By settling, neither firm is denying or admitting to the alleged wrongdoing.<\/span><\/div>\n<\/div>\n<\/blockquote>\n

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

\u00a0Nomura Home Equity Loan, Inc. and Nomura Asset Acceptance Corporation have agreed to jointly pay over $3M to settle allegations that they engaged in the sale of faulty residential mortgage-backed securities (RMBS) to the Western Corporate Federal Credit Union and the U.S. Central Federal Credit Union. The National Credit Union Administration brought the RMBS fraud […]<\/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":[3820,3817,3818,3947,3958,3757,4036,3755],"tags":[3676,2803,2557],"class_list":["post-6060","post","type-post","status-publish","format-standard","hentry","category-citigroup","category-credit-suisse","category-deutsche-bank","category-goldman-sachs","category-jp-morgan-chase","category-mortgagebacked-securities","category-royal-bank-of-scotland","category-ubs","tag-national-credit-union-administration","tag-nomura","tag-rmbs"],"yoast_head":"\nNomura To Pay Over $3M to Settle RMBS Fraud Claims brought by NCUA for Credit Unions — Investor Lawyers Blog — November 2, 2016<\/title>\n<meta name=\"description\" content=\"\u00a0Nomura Home Equity Loan, Inc. and Nomura Asset Acceptance Corporation 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