FDIC Must Face $10 Billion Lawsuit by Deutsche Bank Over Washington Mutual Loans

The Federal Deposit Insurance Corporation will have to defend a $10 billion suit over mortgage-backed securities originated by the now-failed Washington Mutual Bank, the U.S. District Court for the District of Columbia said (Deutsche Bank National Trust Co. v. Federal Deposit Insurance Corporation)…

Bank of America Agrees to Pay $8.5 Billion to Settle Mortgage-Backed Securities Claims by Investor Groups

RALEIGH, N.C.—Charlotte, N.C.-based Bank of America has agreed to pay $8.5 billion to settle with investors over residential mortgage-backed securities they bought from Countrywide Financial, Bank of America announced June 29…

Commercial Banks, Thrifts Report Best Quarterly Profits Since Crisis

Commercial banks and thrifts reported an aggregate profit of $29 billion in the first quarter of 2011, the highest quarterly net income since the 2007 onset of the financial crisis, according to the latest Federal Deposit Insurance Corporation Quarterly Banking Profile, released May 24…

Justice Department Sues Deutsche Bank, Alleges Fraud, Recklessness in Lending

The Justice Department alleged May 3 a wholly owned Deutsche Bank AG subsidiary fraudulently misrepresented its mortgage lending and underwriting practices for years while participating in a federal mortgage-insurance program that to date has led to $386 million in losses…

BNA INSIGHTS: Review of 2010 Bank Enforcement Actions: A Hardened Government Attitude

The number of formal enforcement actions issued by the federal banking agencies exploded again in 2010, following a record setting year in 2009 in which the federal banking agencies issued more than 1000 formal enforcement actions for the first time…

Treasury Lays Out Options to Overhaul Housing Finance System, Unwind Government-Sponsored Enterprises

The Treasury Department released a set of housing policy options Feb. 11 that would slowly dissolve government-sponsored housing finance enterprises (GSE) Fannie Mae and Freddie Mac and transition to a much smaller and explicit federal guarantee role for the mortgage market…

BNA INSIGHTS: Breaking the Gridlock: Strategies for Managing Distressed Real Estate Issues

Despite indications that commercial real estate (CRE) prices may have hit bottom and that some market stability has returned, the relationship between borrowers and lenders remains tenuous at best and fractious at worst.
With more than $1.4 trillion in CRE loans set to mature over the next several years, many borrowers have little hope of refinancing due to the collapse of CRE…

U.S. Regulators Work on Risk Retention; Rigid Standards Already Set in European Union

U.S. financial regulators implementing risk retention rules under the Dodd-Frank financial reform law may have been beaten to the punch by European regulators who have already developed more…

Bank of America to Resume Foreclosures; Administration Says Nationwide Halt Would Be Harmful

The Obama administration again ruled out a nationwide moratorium on foreclosures Oct. 18 as the nation’s largest mortgage servicer…

State Attorneys General, Regulators Form Task Force to Probe Mortgage Foreclosure

BOSTON—The nation’s attorneys general teamed up with state banking and mortgage regulators from across the…

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