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Volume 2014 - Number 4

January 31, 2014

Lehman Wins Bankruptcy Court Approval of $2.15 B Deal With Fannie; Judge Upholds NCUA Suit Against Goldman

A Manhattan federal bankruptcy court this week approved Lehman Brother’s proposed $2 billion-plus settlement that would end an $18.9 billion claim filed against the defunct investment bank by Fannie Mae over soured mortgage securities. Judge James Peck of the U.S. Bankruptcy Court for the Southern District of New York, signed off on the settlement agreement between Lehman Brothers Holdings Inc. and the government-sponsored enterprise, as well as Lehman’s wholly owned subsidiaries Aurora Commercial Group and Aurora Loan Services. ALS was a large Alt A lender/servicer. The deal grants...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

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