UBS pays up to $230 million for selling faulty mortgage loans

Many of the mortgage loans UBS issued did not comply with underwriting guidelines, yet the bank packaged them anyway, according to the settlement. More than $3.93 billion in cash and consumer relief has been recovered from RMBS settlements. UBS's role in churning out faulty mortgages and
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Always passionate about civil rights, a heart attack in 1980 gave him a new perspective that led Cahn to create a new tool for social justice called time banking. A time bank uses time credits as a medium of exchange rather than money. Within the system, every hour is valued the same, regardless of who
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Mike Cagney, a Fintech icon who was founder and CEO of SoFi until he was ejected by the company's board, has brought his newest startup out of stealth mode. Figure, a Blockchain based online lending platform, is now ready accepting emails for future updates. Figure has a mission of “transforming
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Users are obliged abide by national and international laws. Users are obliged to speak respectfully to the other participants in the discussion, readers and individuals referenced in the posts. The websites' administration has the right to delete comments made in languages ​​other than the language of
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The logo of Swiss bank UBS is seen at a branch office in Basel, Switzerland March 29, 2017. Picture taken on March 29, 2017. REUTERS/Arnd Wiegmann Reuters. By Jonathan Stempel and Karen Freifeld. NEW YORK (Reuters) – UBS AG has reached a $230 million settlement to resolve charges
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YouTube will increase the number of ads that some users see between music videos, part of a strategy to convince more of its billion-plus viewers to pay for a forthcoming subscription music service from the Google-owned video site. People who treat YouTube like a music service, those passively
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Lighthizer confirmed Wednesday that the administration is considering both tariffs and curbs on Chinese investment, among other options. U.S. companies from Walmart Inc. to Amazon.com Inc. have warned that sweeping sanctions against China could raise consumer prices and hit the stock market.
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After nearly four decades with Century 21, Lebanon County's Krall Real Estate has switched franchises and joined Howard Hanna Real Estate Services. Founded in 1973, the North Cornwall Township-based real estate company is the 49th franchisee office for Allegheny County-based Howard Hanna
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The lack of clarity can be as present in startups as it is in the Fortune 500 C-suite. “Unless it's really clear what your accountabilities are and how success is going to be measured, it can be a terribly difficult role,” says Bonnie Gwin, vice chairman and co-managing partner of the global CEO and board
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Investors sentiment decreased to 0.84 in Q3 2017. Its down 0.15, from 0.99 in 2017Q2. It is negative, as 78 investors sold Mondelez International, Inc. shares while 422 reduced holdings. 81 funds opened positions while 339 raised stakes. 1.08 billion shares or 2.31% less from 1.11 billion shares in
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Google is reportedly planning to purchase imaging startup Lytro in a deal estimated to be worth between $25 and $40 million. Founded in 2006, Lytro is behind a series of cameras, which allow customers to capture “all the rays of light within a scene” giving them the ability to refocus shots after they were
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It's a crisis – especially in the lower price-point housing market – that's not expected to go away anytime soon, experts say. Home construction per … Prices will continue to go up,” Robert Dietz, chief economist at the National Association of Home Builders, told FOX Business. Here's a look at the various
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… relatively short-duration adjustable-rate mortgage (ARM) securities issued and guaranteed by government-sponsored enterprises, either Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac), or by an agency of the federal government,
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WASHINGTON — A bill to allow captive insurance companies to be reinstated as members of the Federal Home Loan Bank System appears to be dividing the Home Loan bank community. The bill, sponsored by Sen. Tammy Duckworth, D-Ill., would reverse a 2016 rule by the Federal Housing Finance
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Ellie Mae, a cloud-based platform provider for the mortgage finance industry, released its second annual Borrower Insights Survey at the Ellie Mae Experience conference on Tuesday. This survey explores the preferences of over 3,000 U.S. homeowners and renters, indicating results that give insights
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While J.P. Morgan CEO Jamie Dimon sees promise in blockchain but a bubble in Bitcoin, Twitter and Square's chief executive, Dorsey, thinks the poster child of the cryptocurrency movement will come to replace all currencies. “The world ultimately will have a single currency, the Internet will have a
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Most local authorities are not lending to Travellers to buy caravans or mobile homes, despite being funded by Government to do so. The caravan loan scheme was introduced in 2000 to help Travellers improve their living conditions and provide their own accommodation. An unpublished report from the
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The federal government says its hunt for dirty money in luxury real estate in South Florida and other high-priced housing markets is working — and the initiative is being extended. Since 2016, the U.S. Treasury Department has mandated that secretive shell companies buying luxury homes with cash in
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Strong demand and tight inventory combined to produce a sellers' market in Manatee County and send the median sales price for single-family homes sold in in February to $300,000. That's up 5.8 percent from a year ago. It marks the third time the median price has hit the $300,000 mark since the Great
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Although women make up 52 per cent of banking sector employees globally, they average only 38 per cent of middle managers and 16 per cent of executive committees.These are the findings of Professor Michel Ferrary's 'Gender Diversity in the Banking Industry' report, which examined the female
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