UBS Exits Battle Over Fannie, Freddie MBS Losses

Law360, Los Angeles (September 6, 2013, 6:12 PM EDT) -- 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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.