Nomura and RBS await judge ruling on FHFA mortgage lawsuit

Coverage of federal case federal housing finance Agency v. Nomura Holding America, Inc. et al, case number 1:11-cv-06201, from New York Southern Court.

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.

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The court left in place a September ruling. RBS could not immediately be reached for comment. The award stemmed from a lawsuit brought against Nomura and RBS by the Federal Housing Finance Agency.

Nomura, RBS appeal U.S. judge’s $839 million mortgage bond award.. and Royal Bank of Scotland Group Plc. (FHFA) over mortgage bonds sold before the 2008 financial crisis..

Nomura, RBS appeal U.S. judge's $839 million mortgage bond. – Following a non-jury trial, U.S. district judge denise cote, who presided over most of the cases, ruled against Nomura, which sponsored $2 billion of securities sold to Fannie and Freddie, and RBS, which underwrote four of the deals. The judge ruled that the offering documents did not correctly describe the mortgage loans. She awarded 6 million.

A federal judge in Connecticut has denied a bid by the Royal Bank of Scotland (RBS) to dismiss a lawsuit filed by the FHFA accusing the bank of misleading Fannie Mae and Freddie Mac in the sale of.

Poliquin Questions Federal Housing Finance Agency Director Mel Watt Nomura, RBS appeal U.S. judge's $839 million mortgage bond. – Nomura, RBS appeal U.S. judge’s $839 million mortgage bond award. Lawyers for both banks urged the 2nd U.S. Circuit Court of Appeals in New York to reverse a 2015 ruling that followed a non-jury.

A U.S. judge on Friday ordered Nomura Holdings Inc <8604.T> and Royal Bank of Scotland Group Plc to pay a collective $806 million for making false statements in selling mortgage-backed securities.

In her 361- page ruling, Judge Denise L. Cote of Federal District Court in Manhattan wrote that the extent of falsity committed by the two banks was "enormous." She told the FHFA to propose how much Royal Bank of Scotland and Nomura should pay in the wake of her decision. The agency had initially sought approximately $1.1 billion.

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A U.S. appeals court appeared unlikely on Friday to overturn an order requiring Nomura Holdings Inc and Royal Bank of Scotland Group Plc (RBS.L) to pay $839 million for making false statements.

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