Residential Mortgage-Backed Securities › UBS

Residential Mortgage-Backed Securities are financial instruments consisting of residential mortgages pooled together to form larger more complex financial commodities.

News & Analysis as of May 20, 2013

Assured and UBS Agree to Settle RMBS Litigation for $358 Million

by Orrick - Structured Finance Group on 5/14/2013

On May 6, monoline insurer Assured Guaranty Ltd. announced a $358 million settlement with UBS and its affiliates stemming from losses on residential mortgage-backed securities that were issued, sponsored or underwriten by...more

Orrick's Financial Industry Week in Review - May 13, 2013

by Orrick, Herrington & Sutcliffe LLP on 5/13/2013

In This Issue: FHFA Limit on Fannie and Freddie Loan Purchases to Qualified Mortgage; Rating Agency Developments; MBIA and Bank of America Settle MBS Litigation for $1.7 Billion: Assured and UBS Agree to Settle RMBS...more

New York State Court Dismisses RMBS Fraud Suit Against UBS

by Orrick - Structured Finance Group on 4/18/2013

On April 5, New York Supreme Court Justice Shirley Werner Kornreich dismissed with prejudice a suit brought by six Loreley Financing entities against various UBS entities. Loreley alleged fraud stemming from UBS’s issuance of...more

Orrick's Financial Industry Week in Review - April 15, 2013

by Orrick, Herrington & Sutcliffe LLP on 4/15/2013

Fed Proposal on Annual Assessments - On April 15, the Fed requested comment on a proposed rule to establish an annual assessment for bank holding companies and savings and loan companies with $50 billion or greater in total...more

Israeli Bank Sues UBS and Goldman Sachs Seeking a Combined $220 Million

by Orrick - Structured Finance Group on 2/5/2013

On January 29, Bank Hapoalim B.M., Israel’s largest bank, filed summonses with notice against UBS AG, Goldman Sachs & Co., and their affiliates, in the Supreme Court for the State of New York....more

Orrick's Financial Industry Week in Review - February 4, 2013

by Orrick, Herrington & Sutcliffe LLP on 2/5/2013

In This Issue: *Financial Industry Developments - SEC Extends Exemptions for Security-Based Swaps - Fed Announces Release Dates for Results of Supervisory Stress Tests and CCAR - Rating Agency Developments...more

Federal Court Narrows FDIC Lawsuit Against Countrywide

by Orrick - Structured Finance Group on 1/14/2013

On January 3, Judge Mariana R. Pfaelzer of the Central District of California ruled on motions to dismiss filed by defendants Countrywide, Bank of America, and UBS in an action brought against them by the Federal Deposit...more

Orrick's Financial Industry Week in Review - January 7, 2013

by Orrick, Herrington & Sutcliffe LLP on 1/14/2013

In This Issue: *Financial Industry Developments - OCC Guidance on Transition Periods under Section 716 of the Dodd-Frank Act - CFTC Reporting of Swap Transactions and Swap Dealer Registration - Department...more

NCUA Sues UBS Over $1.1 billion in RMBS Sold to Collapsed Credit Unions

by Orrick - Structured Finance Group on 9/20/2012

On September 6, 2012, the National Credit Union Administration Board (NCUA) sued UBS in the United States District Court for the District of Kansas. The NCUA filed the suit in its capacity as Liquidating Agent of U.S. Central...more

Irish Financial Firm Sues UBS Alleging RMBS Misrepresentations

by Orrick - Structured Finance Group on 9/11/2012

On September 5, 2012 Sealink Funding Limited filed a summons with notice against UBS AG in the Supreme Court for the State of New York for allegedly misrepresenting the nature of nearly $160 million worth of RMBS securities....more

RMBS Cases Against UBS Dismissed as Time-Barred

by Orrick - Structured Finance Group on 8/6/2012

On July 31, Judge Cecchi of the District of New Jersey dismissed with prejudice as time-barred claims filed by the Pension Trust Fund for Operating Engineers alleging misstatements and omissions in the offering documents for...more

DZ Bank AG Sues UBS in New York State Court In Connection With $160 Million of RMBS

by Orrick - Structured Finance Group on 7/30/2012

On July 25, Deutsche Zentral-Genossenschaftsbank AG (“DZ Bank”) filed a summons with notice against several UBS entities in the Supreme Court of the State of New York. DZ Bank alleges that UBS misrepresented the underwriting...more

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