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The Financial Industry Regulatory Authority announced today that it has fined Citigroup Global Markets, Inc. $3.5 million for providing inaccurate mortgage performance info
United States deposit insurer FDIC has sued Deutsche Bank and other big financial groups, seeking damages for mortgage losses. The lawsuit is one more attempt to clean up the subprime mortgage scandal.

AIG ventures back into subprime mortgages

Posted by mortgage 2 days ago (Editorial)
American International Group, the insurer that needed a $182.3 billion bailout from the U.S. government in 2008 after failed mortgage investments, is betting this time it's different.
American International Group Inc. (AIG) , the insurer that needed a $182.3 billion bailout from the U.S. government in 2008 after failed mortgage investments, is betting this time it?s different.
SINGAPORE/HONG KONG (Reuters) - Royal Bank of Canada and Credit Suisse are among suitors who have put in initial bids to buy the non-U.S. wealth management business of Bank of America in a deal that could be worth about $2 billion, sources said. Swiss bank Julius Baer was also keen to bid for some of BofA's units in Europe, the Middle East, Latin America and Asia excluding Japan, the sources
Residential Capital L.L.C., which was a big subprime mortgage lender and still employs 1,385 in Fort Washington, filed for bankruptcy protection Monday in New York.
Residential Capital L.L.C., which was a big subprime mortgage lender and still employs 1,385 in Fort Washington, filed for bankruptcy protection in New York on Monday.

Subprime Bonds Come Roaring Back

Posted by mortgage 12 days ago (Editorial)
LAS VEGAS ? No doubt about it. Subprime is back. Mortgage backed securities are hot again. Many of the hedge fund traders gathered at the Skybridge Alternatives investor summit at the Bellagio Hotel in Las Vegas are enthusiastically seeking out the once "toxic" mortgage bonds for their portfolios.

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