April 19, 2016
A former UBS trader grudgingly admitted Tuesday that he told a colleague to keep data about falling homebuyer credit scores away from ratings agency Standard & Poor's in 2007 in an effort to close a mortgage bundle, as trustee U.S. Bank seeks to hold the Swiss megabank liable at trial for building shoddy trusts that cost investors $2 billion.
April 18, 2016
A UBS unit knowingly sold thousands of bad home loans into securitized trusts, costing investors $2 billion, trustee U.S. Bank told a New York federal judge Monday at the outset of an unprecedented trial that could cost the Swiss giant more money than it's already shelled out for its participation in pre-financial crisis mortgage bundling.
August 15, 2013
A New York federal judge on Thursday refused to throw out a suit brought by trusts accusing a UBS AG unit of reneging on a deal to buy back certain residential mortgage loans it sold for securitization purposes, finding the trusts' bid for damages doesn't doom the case.