September 12, 2014
HSBC Holdings PLC will pay $550 million to end a New York federal suit brought by the Federal Housing Finance Agency accusing it of selling toxic residential mortgage-backed securities to Fannie Mae and Freddie Mac, it announced on Friday.
August 28, 2014
A New York federal judge ruled Thursday that a recent U.S. Supreme Court decision narrowing statutes of limitations does not apply to the Federal Housing Finance Agency claims alleging HSBC North America Holdings Inc. and other banks knowingly sold toxic residential mortgage-backed securities to Fannie Mae and Freddie Mac.
August 25, 2014
A class of homeowners who took out the loans underlying the toxic mortgage-backed securities allegedly sold by HSBC North America Holdings before the financial crisis of 2008 won't be allowed to intervene in the Federal Housing Finance Agency's suit against the bank, a New York federal judge ruled Monday.
May 06, 2014
Fannie Mae and Freddie Mac didn't know of the falsity of misrepresentations that banks made when selling them toxic mortgage-backed securities before the financial crisis, the Federal Housing Finance Agency claimed in court documents publicly filed Tuesday.
November 04, 2013
Banks battling the Federal Housing Finance Agency over toxic mortgage-backed securities sold to Fannie Mae and Freddie Mac asked a New York federal court Monday that Virginia state judges adjudicate whether laws in that state allow the banks' loss causation defense.
August 05, 2013
HSBC Holdings PLC could face up to $1.6 billion in damages in a Federal Housing Finance Agency suit alleging it sold shoddy mortgage-backed securities to Fannie Mae and Freddie Mac before the 2008 financial collapse, the bank said Monday.