In a new public disclosure, General Electric said it could face legal action from the Justice Department following an investigation into WMC Mortgage, a mortgage firm it once controlled...
The Securities and Exchange Commission completed an enforcement action last week against Deutsche Bank Securities and a former head trader at the firm regarding sales of commercial MBS between 2011 and 2015.
In direct rebuke to Richard Cordray’s interpretation, the court held that a reasonable payment is bona fide regardless of whether a referral was also involved in the transaction.