Florida AG presses appellate court over foreclosure assignment issue --

Florida Attorney General Pam Bondi is asking the state's 4th District Court of Appeals to issue a procedural ruling in the David J. Stern robo-signing investigation, so her office can appeal to Florida's highest court.
Bondi is specifically asking the court to certify that its holding in the Stern law firm robo-signing case is one of […]

Dutch pension fund sues Credit Suisse over toxic RMBS --

Dutch pension fund Stichting Pensioenfonds ABP filed suit against banking giant Credit Suisse (CS: 23.48 0.00%), claiming the global bank sold the fund residential mortgage-backed securities without disclosing the toxic nature of the mortgages serving as collateral.
The suit, which does not mention how much the fund purchased, claims the pension fund is one of the […]


HSH Nordbank sues Ally, JPMorgan Chase, Barclays over RMBS --

European lender HSH Nordbank AG filed suit against Ally Financial Inc. (GJM: 20.55 -1.15%), JPMorgan Chase (JPM: 33.25 -0.51%), Barclays (BCS: 10.99 +0.83%) and other associated entities for securitizing, selling and, in some cases, underwriting, residential mortgage bonds while allegedly misrepresenting the financial risks tied to the underlying loans.
The German bank filed three separate suits […]

Obama holds off on debt ceiling request --

President Barack Obama will delay his request to raise the debt ceiling after congressional leaders asked for time to consider the timing of votes.
The president originally announced plans to ask for the $ 1.2 trillion increase in late December in accordance with the Budget Control Act passed in August. He delayed on the request on Friday.
The […]

MGIC gives $200 million to mortgage insurance unit --

MGIC Investment Corp. (MGIC: 5.17 -0.39%)  poured $ 200 million into its principal insurance operation, Mortgage Guaranty Insurance Corp., to ensure the company can continue writing new business without regulatory risk.
With the new capital injection, MGIC Investment Corp. said it's now able to write new mortgage insurance business nationwide "without the need for any waiver of […]

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