FHFA Seeking $13 Billion From RBS in Mortgage-Backed Securities Suit

first_imgSubscribe Related Articles The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Brian Honea Home / Daily Dose / FHFA Seeking $13 Billion From RBS in Mortgage-Backed Securities Suit Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Fannie Mae FHFA Freddie Mac Lawsuits Mortgage-Backed Securities Royal Bank of Scotlandcenter_img Previous: U.S. Congressman Hensarling Scheduled to Speak on Fifth Anniversary of Dodd-Frank Next: Cleveland Bank Demonstrates Ability to Remain Well-Capitalized in Stress Test Fannie Mae FHFA Freddie Mac Lawsuits Mortgage-Backed Securities Royal Bank of Scotland 2015-07-02 Brian Honea Share Save July 2, 2015 1,145 Views Servicers Navigate the Post-Pandemic World 2 days ago The Royal Bank of Scotland (RBS) may have to pay as much as $13 billion in a mortgage-backed securities lawsuit filed by the Federal Housing Finance Agency (FHFA), according to multiple media reports.FHFA made a filing in the U.S. District Court in Connecticut in late June seeking $13 billion in damages, according to a report from Bloomberg. RBS was one of 18 lenders sued by the FHFA in 2011 to recoup U.S. taxpayer costs following the government’s $187.5 billion bailout of Fannie Mae and Freddie Mac in 2008.The lawsuit against RBS in the Connecticut court involved the selling of about $32 billion worth of faulty mortgage-backed securities to Fannie Mae and Freddie Mac before the crisis. The bank had set aside about $3 billion for a possible settlement but reports surfaced that the FHFA might ask as much as $7.7 billion. The case should go to trial sometime in 2016 if a settlement is not reached. Analysts from Bloomberg Intelligence predict that the two parties will reach a settlement for between $1.8 billion and $4.5 billion before it goes to trial. The $13 billion FHFA asked for in the filing exceeds all previous estimates.Out of the 18 lenders the FHFA sued, 16 of them settled for a combined total of about $17 billion. Nomura Holdings took FHFA to trial in March for a case in which RBS was also a defendant. In the two-month  long bench trial, Judge Denise Cote in the U.S. District Court in the Southern District of New York found Nomura liable for deceiving Fannie Mae and Freddie Mac in the sale of $2 billion worth of mortgage-backed securities to the GSEs prior to the financial crisis of 2008. FHFA was seeking $1.1 billion in damages in that case; the judge awarded the agency $806 million. The bank has appealed the verdict.In June 2014, RBS agreed to pay $99.5 million to settle a separate FHFA suit claiming that the bank sold more than $2 billion worth of faulty mortgage-backed securities to Fannie Mae and Freddie Mac between 2005 and 2007, the years of the “housing bubble” in the U.S. FHFA Seeking $13 Billion From RBS in Mortgage-Backed Securities Suit Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News, Secondary Market Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

ST. Matthew Vows to Capture LMDI Pop Quiz Contest

first_imgThe semi-finals of the ongoing Liberia Media for Democratic Initiative (LMDI) quiz contest will kick off today Monday, June 29 at the Tubman High School campus in Monrovia.The Paynesville based St. Matthew Lutheran High School has vowed towin the competition and team captain Solomon Nah says that his team is sure to qualify for the finals.“It is just a matter of playing the game against J. J. Roberts and I am bold to tell you we are already qualified for the finals.“I watched J. J. Roberts’s last three games, the questions they answered and the way in which they attempted the questions. They cannot be compared to my team,” Solomon Nah noted.Nah said in spite of lack of support for his team from his administration, his players are fully prepared to knockout J. J. Roberts and defeat their opponents in the finals. “Although one of our disappointments is the lack of support from the administration, I can assure you that my boys are in high spirits for the match against J.J Roberts.” Nah added that his team is also prepared for any opponent he meets in the finals. “I have also watched Christian Mission Fellowship International and Ricks Institute performing, but I trust my boys and we are going to defeat any of them we meet in the finals,” Nah said.The previous meeting between the two sides was on April 23, 2013 at the Royal Christian Foundation Institute in Paynesville, where J. J. Roberts won the game by a 55 point margin in a one day knock-out quizzing commemorating the 19th gala anniversary of Royal Christian Foundation.The pop quiz competition, organized by the Liberia Media for Democratic Initiative (LMDI) under its child sensitive program platform, TOMORROW’s PEOPLE, seeks to ignite positive competition for academic excellence and sway the attention of school going young people from European football league which has attracted many young people’s attention.The final competition is scheduled for July 7.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

Raiders’ Derek Carr, Amari Cooper bounce back in loss to Broncos

first_imgDENVER — Derek Carr and Amari Cooper both turned in games to forget against the Rams, Carr throwing three interceptions with no touchdowns and Cooper catching only one pass on three targets for 9 yards.Even in a Raiders (0-2) 20-19 loss Sunday to the Broncos (2-0), Carr and Cooper might’ve been the two best players on the field for either team, both showing last Monday might’ve just been a fluke on their 2018 offensive resumes.Carr completed an astounding 29-of-32 passes for 288 yards and a …last_img read more

Prolific Harry Kane adds Cardiff to list of Premier League victims

first_imgHotel management clarifies SEAG footballers’ kikiam breakfast issue BREAKING: Corrections officer shot dead in front of Bilibid Private companies step in to help SEA Games hosting Is Luis Manzano planning to propose to Jessy Mendiola? Starting the year right LATEST STORIES LOOK: Joyce Pring goes public with engagement to Juancho Triviño Kane had failed to breach Cardiff’s defense in his three previous matches against the Welsh club and only did so this time because of a touch of fortune. Cardiff defender Sean Morrison tried to clear the ball out of his area but it struck the midriff of Kane and ended up dribbling over the goal line.It was Kane’s 14th league goal, moving him alongside Arsenal striker Pierre-Emerick Aubameyang atop the scoring list and one above current Golden Boot holder Mohamed Salah, the Liverpool forward.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSUrgent reply from Philippine ‍football chiefSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionEriksen received a pass from Son, took a touch, and sent a precise shot from the edge of the area just inside the post to make it 2-0 in the 12th minute.Kane then played in Son, who found the corner with an angled shot in the 26th minute for his eighth goal in his past eight starts. Son has only one Premier League game left — against Manchester United on Jan. 13 — before he leaves to play for South Korea in the Asian Cup. SEA Games: Biñan football stadium stands out in preparedness, completion “That is football, we knew it would happen,” Tottenham manager Mauricio Pochettino said. “He will go with his national team, but we have players and football is about the squad and surely we will find the solution.”Tottenham bounced back from a 3-1 home loss to Wolverhampton Wanderers, which was their first game since seriously entering the title conversation. If Liverpool loses to City, Spurs will be back in it.“I don’t care,” Pochettino said, when asked about Thursday’s game. “Of course I will watch it, it will be an unbelievable game and I enjoy football.”Cardiff stayed three points above the relegation zone with this latest convincing loss to one of the league’s heavyweight teams. It was beaten 5-1 at Manchester United just before Christmas and was also thrashed 5-0 by Man City at home in September.“When we start off like that, we shoot ourselves in the foot. All the planning goes out of the window,” Cardiff manager Neil Warnock said. “The goals were disappointing but they were too good for us in the first half. But that’s life and you move on.ADVERTISEMENTcenter_img SEA Games: Biñan football stadium stands out in preparedness, completion PH underwater hockey team aims to make waves in SEA Games PLAY LIST 02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss Don’t miss out on the latest news and information. MOST READ Tottenham Hotspur’s Harry Kane, left, celebrates with teammates after scoring his side’s first goal of the game against Cardiff, during their English Premier League soccer match at Cardiff City Stadium in Cardiff, Wales, Tuesday Jan. 1, 2019. (Mark Kerton/PA via AP)CARDIFF, Wales — Harry Kane’s third-minute goal set Tottenham on its way to a 3-0 win at Cardiff on Tuesday, ensuring the prolific England striker has scored against all 28 teams he has faced in the Premier League.Christian Eriksen and Son Heung-min also netted first-half goals as Tottenham moved back into second place, a point above Manchester City and six behind Liverpool. City and Liverpool play each other on Thursday.ADVERTISEMENT “I was pleased that we hung in there because it’s easy to throw the towel down when you’re 3-0 down to a team like this.”Sports Related Videospowered by AdSparcRead Next TS Kammuri to enter PAR possibly a day after SEA Games opening View commentslast_img read more

Born with a top Touch

first_imgPeter Norman continues a family legacy in Touch Football and attached is an article written about him in the Gold Coast Bulletin. Thanks to Greg Norman for providing the article content.Related Filesborn_with_a_top_touch-pdflast_img

We refuse to live in fear Colten Boushie family to keep fighting

first_imgLucy Scholey APTN NewsFamily members of Colten Boushie are ending a whirlwind Ottawa trip on Wednesday with a clear message: they will not stop fighting for changes to the criminal justice system.“We refuse to live in fear. Our children should not live in fear. Our children should be able to walk this earth in freedom and not be worried about being shot or come up missing,” said Debbie Baptiste, the mother of the 22-year-old Red Pheasant First Nation member who was shot and killed in August 2016.Gerald Stanley, the white Saskatchewan farmer who held the gun that killed Boushie, was acquitted by an all-white jury on Friday.The family then travelled from Saskatchewan to Ottawa to meet with several political leaders, including Prime Minister Justin Trudeau, Justice Minister Jody Wilson-Raybould, Public Safety Minister Ralph Goodale, Indigenous Services Minister Jane Philpott, Crown-Indigenous Relations Minister Carolyn Bennett and NDP leader Jagmeet Singh.Boushie’s relatives did not meet with Andrew Scheer. A spokesperson said the Conservative leader is attending events in Saskatchewan and British Columbia this week. However, the family has met with other Conservative MPs, including Kevin Waugh, Battlefords-Lloydminster representative Rosemarie Falk, and Indigenous affairs critic Cathy McLeod.The family’s issues with Boushie’s case start with the day he died, on Aug. 9, 2016. Relatives have launched a complaint with the independent Civilian Review and Complaints Commission, alleging that RCMP officers mishandled the investigation into Boushie’s death.Chris Murphy, a lawyer representing the Boushie family, also said part of the problem is peremptory challenges, which allow defence and Crown lawyers to strike out potential jurors from the jury pool without stating a reason. He said Stanley’s defence team rejected anyone from the jury who was Indigenous in appearance.He called the peremptory challenge process “government-sanctioned discrimination.”“There are much better ways to do that than look at a colour of a person’s skin when they get called up,” he said. “It’s a process that literally lasts three seconds – the accused look upon the juror, the juror looks upon the accused, defence challenge – that’s it.”The Boushie family said they’re hopeful real change is in the works. Trudeau is expected to make a speech about a new legal framework for Indigenous people in the House of Commons Wednesday afternoon.Jade Tootoosis, Boushie’s cousin, said she feels her family is finally being heard.“We will be back. We will be speaking out,” she said. “This does not end here. We will continue the dialogue and we will press for concrete changes within the system so that no other families, no other Indigenous lives are taken before changes are made.”[email protected]last_img read more

For worldchampion jumping rope and physics go handinhand

For an Ohio State first-year in physics, Tori Boggs knows a lot about jumping rope.Boggs is a nine-time world rope skipping champion and a two-time world record holder, the current captain of both Jump Company USA and the U.S. National Jump Rope team, and a member of the USA All-Star Ambassador Jump Rope team.“It’s one of those things where you absolutely have to see jump rope to believe it and you just get hooked at the first sight,” Boggs said.Jumping rope is nothing new to Boggs, a Parkersburg, W.Va., native. The 20-year-old has been involved in the sport since she was 5 when she walked into a jump roping event at the Junior Olympic tournament where her brother was participating in a Tae Kwon Do competition.“She went into a gym where they were jumping rope and saw it and didn’t want to leave,” said her mother and jump rope coach, Rochelle Boggs. The mother-daughter pair stumbled upon an advertisement in their local newspaper the following week for tryouts and have never looked back.“She’s my coach now, so we’ve grown in the sport together,” Tori Boggs said.But Tori Boggs is the only person to her knowledge on OSU’s campus who participates in competitive rope skipping, something that means she spends many weekends traveling to perform and compete with her various teams. OSU does not provide any resources for her jump roping, but she said she is “working on” getting jump roping to the point where it is associated with the university.Last year, Tori Boggs spent the summer as part of a circus. She said she might want to pursue performing as a career.“I did a holiday tour with “Cirque Dreams” so it was a national tour, so I toured for a few months and we went around and I jumped rope in the circus,” she said. “I’m (also) employed by Cirque de Soleil for special events.“Ultimately I want to be on a Cirque de Soleil tour.”Until that point, Tori Boggs said she has dreams of bettering the sport of rope skipping.“I’m going to switch to engineering so I can actually apply physics, but basically my motivation for (pursuing a degree) is that I love jump rope so much, my body knows exactly what I’m doing, my muscles know what they’re doing, but I don’t know how to explain it,” Boggs said. “So I want to look at the forces that jump rope places on our body. I want to be able to design a better handle for jumpers, I want to be able to design better shoes and understanding the surfaces that we jump on, like how does that affect our body?”She said currently she is involved with the biomechanics lab at the Wexner Medical Center where she does tricks and uses technology to show her where the forces on her joints are located.“I want to be able to develop better products and improve training methods, and then I’m pre-med, too, so maybe I can go to med school and use that. I don’t know, there’s a lot of options,” Tori Boggs said.With the inaugural 2013 Arnold Classic jump rope competition happening this weekend, she has been working overtime to recruit novice jumpers to register.“I’ve seen people just playing around with the ropes so I always give them Arnold papers and talk to them about jump rope,” she said.The competition is being co-chaired by Rochelle Boggs, and it will have three different competitive categories, encompassing all age groups and skill levels from those who have never jumped before to professionals like Tori Boggs. Other professional jump ropers are excited about the opportunities the weekend may bring.“Any sort of way that we can get the public to view the sport is really exciting,” said Jen Evans, a grand national champion and three-time world medalist who will be attending OSU next year to work on a doctorate of physical therapy. Evans is a Strongville, Ohio, native and currently attends Baldwin Wallace University in Berea, Ohio.“It’s really cool because I know that people from Columbus will be there and I’m hoping that it increases the awareness of jump rope,” Evans said. Rochelle Boggs said the new competition will fit in at the Arnold well.“The cool thing is it’s kind of like a natural progression to see jump rope get to the Arnold because Arnold is all about fitness and movement,” she said.The Arnold Jump Rope Fitness Competition will be held Saturday and Sunday at the Greater Columbus Convention Center. read more

Report Schalke not interested in Danny Rose

first_imgAccording to Sky Sports, Bundesliga club Schalke are not interested in signing Tottenham Hotspur left-back Danny Rose contrary to initial reports.The Bundesliga club plan to secure just one more signing, preferably a left-back. They have a budget or around €7m according to Sky sources, and Danny Rose is not on their radar.Schalke are not interested in loan deals but are looking to make a permanent signing.The German club are hoping to finalise a deal for a new defender by the weekend.Christian Eriksen, Tottenham, SpursPochettino: ‘Happy’ Christian Eriksen ready for Spurs action Andrew Smyth – September 12, 2019 Mauricio Pochettino insists Christian Eriksen is “happy” and in the right frame of mind for Tottenham despite his failed summer exit.Danny Rose has been one of the players heavily linked to the club but the price tag has been the only stumbling block in the way of a deal.It has been initially reported that Tottenham were willing to listen to offers for Danny Rose, along with Toby Alderweireld and Mousa Dembele this summer.Since criticising Spurs’ ambition and wage structure last year, Rose has faced an uncertain future.Comments for which he subsequently apologised, but the damage seems to have already been done.last_img read more

We dont fear United – Francis

first_imgBournemouth defender Simon Francis insists he and his teammates have nothing to fear when they face Manchester United this weekend, saying perhaps they are favourites.The Cherries captain feels the team’s form suggests they may even be favourites against the Red Devils.Eddie Howe’s side host United on Saturday, the south coast side are currently sixth in the Premier League and three points ahead of their visitors.Francis said the team’s impressive start to the season could even suggest they’re favourites for the clash at Vitality Stadium.“There is certainly no fear factor. The form book would say we might be favourites going into the game,” he told The Mirror.Harry Maguire, Manchester UnitedLiverpool legend Nicol slams Harry Maguire’s Man United form Andrew Smyth – September 14, 2019 Steve Nicol believes Harry Maguire has made some “horrendous mistakes” recently, and has failed to find his best form since joining Manchester United.“I don’t think we see it as a free hit any more, these kinds of games, because we believe we can beat them.“With the points we have accumulated so far even if we lose to Man United, people might think, ‘It’s OK, they have had a good start to the season’, but we don’t see it like that.“Even in our first season when we played the big teams, nobody would back us to get any points, but this is our fourth season and we have come a long way.”“These games are the ones we can grab by the scruff of the neck and take to Man United: The lads will be raring to go, are looking forward to every Premier League game and why not? We are on good form.“We will be at it from the start, pressing high and trying to win the ball back to give the fans something to get excited about.”last_img read more

Henderson hails Milner and Fabinho

first_imgAccording to the Liverpool midfielder, the team is doing pretty well in the English Premier League thanks to Fabinho and James Milner.Liverpool is currently in the first place of the English Premier League table with 57 points.They are four points ahead of second-place Manchester City.And for defender Jordan Henderson, is all thanks to Fabinho and James Milner.Jadon Sancho, Borussia DortmundCrouch: Liverpool could beat Man United to Jadon Sancho Andrew Smyth – September 14, 2019 Peter Crouch wouldn’t be surprised to see Jadon Sancho end up at Liverpool one day instead of his long-term pursuers Manchester United.“Aside from the big task of trying to get the right result in this game, we also have the challenge of a few injuries at the moment and we, as the players, know this means we all have to step up, be flexible and adapt,” Henderson told the club’s official website.“In recent games, we take great inspiration from people like Fabinho. Yes, he’s an experienced international with a track record of performing well in multiple positions – but to play center-half at Brighton and play like he did impress everyone.”“There was no fuss or drama from Fab – he just delivered,” he added.“James Milner, as the gaffer has joked, has played just about every position on the pitch except as ‘keeper. Already this season he’s filled in at full-back and the way he gets on with his job and puts the team first is a perfect example as well.”last_img read more