Credit Suisse settles Assured Guaranty mortgage lawsuit Credit Suisse Group ( CS) resolved a lawsuit filed in 2010 by bond insurer ambac financial group, Inc. The terms of the settlement were undisclosed. The plaintiff alleged that DLJ Mortgage Capital.
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Assured Guaranty said it had filed to dismiss its lawsuit against Credit Suisse, according to a statement on its website. U.S. Bank National Association, which acts as a trustee for the six residential mortgage-backed securities that were at issue, filed a motion with the New York Supreme Court objecting to the confidential settlement.
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Credit Suisse must provide consumer relief to homeowners who are struggling to make their mortgage payments or who owe more than their homes are worth. Credit Suisse will be providing assistance to communities affected by the housing crisis by funding affordable housing developments around the country.
December 2, 2014. Assured Guaranty Municipal and Assured Guaranty Corp. are pleased to have entered into an agreement that resolves our RMBS dispute against Credit Suisse. As a result, on November 25, 2014, we and Credit Suisse filed a joint stipulation to dismiss our lawsuit against Credit Suisse. Although U.S.
Bonds and loan-backed securities with an NAIC designation of 1 or 2.. Company may have, whether through litigation, settlement, sale or other monetization, commutation of a small book of business ceded to Syncora Guarantee by an Assured Guaranty affiliate.. CREDIT SUISSE SECURITIES LLC .
Assured Guaranty’s settlement resolved a lawsuit it brought in February 2012, accusing the bank of falsely representing the quality of loans underlying $1.49 billion of mortgage-backed securities.
Ellie Mae to acquire AllRegs for $30 million Under the terms of the agreement, Ellie Mae will acquire AllRegs for $30.0 million in cash, subject to certain purchase price adjustments, including for working capital. Due to the anticipated timing of closing, the acquisition is expected to have a minimal impact on third quarter results.
Credit Suisse settles mortgage case with bond insurer Ambac. Ambac’s lawsuit claimed Credit Suisse Securities, along with its affiliate DLJ Mortgage Capital, misled the insurer about a pool of over 2,000 home equity lines of credit with a principal balance of about $170 million. Ambac said the defendants did not disclose that many borrowers had little or no ability to repay.
certain amount of mortgage credit risk to private investors.. are credit guaranteed by Freddie Mac, the subordinated tranches lack the.. third parties with the minimum cost and litigation.. Assured Guaranty. Credit Suisse.. 1 Settled at the appeal stage after a decision at trial.2 Reported as $13.
Credit Suisse Settles Lawsuits – Analyst Blog. The lawsuit settlement will slash Credit Suisse’s fourth-quarter net profit by 134 million Swiss francs ($141 million) to 263 million Swiss francs.