NCUA tries to recover $2.4B in MBS losses

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A lawsuit from the big banks targeting the National Credit Union Administration isn’t likely to go far. That’s the word from some analysts after a suit last month from a group of banks claiming the NCUA breached its settlement agreement in a previous case regarding mortgage-backed securities sold to now-defunct corporate credit unions.

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The Wall Street Journal is reporting that the National Credit Union Administration (NCUA) has threatened to sue several investment banks unless they refund over $50 billion of mortgage-backed securities sold to the five failed corporate credit unions. The $50 billion in bonds currently have a face value of $25 billion.

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Category: digital banking. to set valuation at $2.4B after. utmost transparency in their investigation and do their best to recover the losses of.

The National Credit Union Administration ("NCUA"), a federal regulator that supervises and insures the nation’s credit unions, was forced to step in as conservator for five credit unions that failed in 2009-10 due in large part to their massive RMBS holdings. Having been saddled with approximately $50 billion in battered RMBS from these.

The National Credit Union Administration (NCUA) has proposed a rule that will allow a federal credit union (FCU) to leverage funding sources other than member shares. These rules apply to federally insured state credit unions (FISCUs) by reference in 741.204.

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NCUA wins bid to pursue MBS claims.. NCUA tries to recover $2.4B in MBS losses. Assured Guaranty free to pursue MBS case against UBS. How to win a bidding war in today’s tight market.

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