Nomura Fined $480 Million to Settle Decade-Old Mortgage Charges

[kreslik.news]

New York-based investment bank Nomura Holdings today finalized an agreement to pay US authorities $480 million to settle claims that its affiliates misled investors with residential mortgage-backed securities it sold in the run-up to the 2008 financial crisis, the US Department of Justice said on Tuesday.

The civil fine is for alleged origination and sale of residential mortgage loans that the lender knew contained misstated income information and did not meet the extensive due diligence it represented. Today’s agreement holds Nomura Securities, a New York located brokerage firm, responsible for selling thousands of loans that were packaged ... (read more)