Nomura and Royal Bank of Scotland were censured by a U.S. judge on Monday for allegedly misleading Fannie Mae and Freddie Mac while selling defective mortgage-backed securities. The court ruling against Nomura and RBS may encourage other banks to settle mortgage-related suits brought by regulators and private investors rather than face the bad publicity and cost of an adverse judgment. Fannie Mae and Freddie Mac: Court sets damages formula In her 361-page opinion, U.S. District Judge Denise Cote in Manhattan said Nomura and RBS sold flawed securities to government-owned mortgage companies. After a three-week trial, she said the banks misled Fannie…
Court Rules Nomura, RBS Misled Fannie Mae And Freddie Mac
Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports