UBS Exits Battle Over Fannie, Freddie MBS Losses

Law360, Los Angeles (September 06, 2013, 6:12 PM ET) -- UBS Securities Inc. settled a dispute with the Federal Housing Finance Agency on Friday, releasing it from multidistrict litigation over allegedly shoddy mortgage-backed securities it underwrote that were purchased by Fannie Mae and Freddie Mac.

U.S. District Judge Mariana R. Pfaelzer approved an Aug. 2 motion to dismiss UBS from the sprawling litigation over residential mortgage-backed securities that went sour when the housing market fell. The terms of the settlement were not immediately available, though part of the agreement included a stipulation that the other parties...
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Case Information

Case Title

In Re Countrywide Financial Corp Mortgage-Backed Securities Litigation

Case Number

2:11-ml-02265

Court

California Central

Nature of Suit

Securities/Commodities

Judge

Mariana R. Pfaelzer

Law360 Coverage

Date Filed

August 30, 2011


Case Title

Federal Housing Finance Agency, As Conservator For The Federal National Mortgage Association et al v. Countrywide Financial Corporation et al

Case Number

2:12-cv-01059

Court

California Central

Nature of Suit

Securities/Commodities

Judge

Mariana R. Pfaelzer

Law360 Coverage

Date Filed

February 8, 2012

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