Federal Housing Finance Agency v. HSBC North America Holdings Inc. et al

  1. September 12, 2014

    HSBC Reaches $550M Toxic MBS Deal With FHFA

    HSBC Holdings PLC will pay $550 million to end a New York federal suit brought by the Federal Housing Finance Agency accusing it of selling toxic residential mortgage-backed securities to Fannie Mae and Freddie Mac, it announced on Friday.

  2. August 28, 2014

    FHFA Defeats Time-Barred Claim In HSBC, Nomura Suits

    A New York federal judge ruled Thursday that a recent U.S. Supreme Court decision narrowing statutes of limitations does not apply to the Federal Housing Finance Agency claims alleging HSBC North America Holdings Inc. and other banks knowingly sold toxic residential mortgage-backed securities to Fannie Mae and Freddie Mac.

  3. August 25, 2014

    Class Can't Intervene In FHFA's MBS Suit Against HSBC

    A class of homeowners who took out the loans underlying the toxic mortgage-backed securities allegedly sold by HSBC North America Holdings before the financial crisis of 2008 won't be allowed to intervene in the Federal Housing Finance Agency's suit against the bank, a New York federal judge ruled Monday.

  4. May 06, 2014

    Fannie, Freddie Didn't Know MBS Loans Were Toxic: FHFA

    Fannie Mae and Freddie Mac didn't know of the falsity of misrepresentations that banks made when selling them toxic mortgage-backed securities before the financial crisis, the Federal Housing Finance Agency claimed in court documents publicly filed Tuesday.

  5. November 04, 2013

    Banks In MBS Row Want Loss Causation Defense Heard In Va.

    Banks battling the Federal Housing Finance Agency over toxic mortgage-backed securities sold to Fannie Mae and Freddie Mac asked a New York federal court Monday that Virginia state judges adjudicate whether laws in that state allow the banks' loss causation defense.

  6. August 05, 2013

    HSBC Says Damages May Reach $1.6B In FHFA Action

    HSBC Holdings PLC could face up to $1.6 billion in damages in a Federal Housing Finance Agency suit alleging it sold shoddy mortgage-backed securities to Fannie Mae and Freddie Mac before the 2008 financial collapse, the bank said Monday.