News & Analysis as of

Fraud › Subprime Mortgages

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
Dorsey & Whitney LLP

Is the SEC a Toothless Watch Dog?

Dorsey & Whitney LLP on

SEC enforcement actions are supposed to halt violations, protect investors and the markets, act as a deterrent and prevent a future repetition of wrongful conduct. To facilitate those goals settlements typically incorporate...more

Bilzin Sumberg

BofA $1.4 Billion Settlement Talks with Freddie Mac

Bilzin Sumberg on

Bank of America and Freddie Mac are currently attempting to resolve a mortgage repurchase dispute in which Freddie Mac claims that Bank of America should have to buy back more than $1.4 billion in mortgage loans it claims...more

Bilzin Sumberg

BofA’s Countrywide Found Responsible For Defrauding Fannie Mae & Freddie Mac

Bilzin Sumberg on

A federal jury ruled yesterday that Countrywide, now owned by Bank of America, defrauded Fannie Mae and Freddie Mac by selling them defective mortgages in advance of the great financial crisis of 2008. A former Countrywide...more

Orrick - Finance 20/20

JP Morgan Discloses Investigation of MBS Practices

Orrick - Finance 20/20 on

In its Form 10-Q filed with the SEC on August 7, JP Morgan Chase & Co. disclosed that it is responding to parallel criminal and civil investigations by the U.S. Attorney’s Office for the Eastern District of California...more

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