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  • September 21, 2014
  • Last updated: 11:31am
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  1. Business - Banking & Finance - FINANCE

    HSBC pays US$550m to settle US claims over mortgage-backed securities

    Posted Sep 14th 2014, 06:35am by AP

    ... National Mortgage Association and Federal Home Loan Mortgage Corporation- between 2005 and 2007. Under the settlement, HSBC is paying US$176 million to Fannie and US$374 million to Freddie. ... Associated Press in Washington Pay-out resolves claims bank misled America's Fannie Mae, Freddie Mac on mortgage securities HSBC agrees to settlement of US$550 million HSBC has agreed ...

  2. News - World - BANKING

    Bank of America to pay US$16 billion over flawed security mortgages

    Posted Aug 22nd 2014, 01:26am by GDN

    ... that alleged it routinely overstated the quality of mortgages it was selling to investors. Many of Bank of America's issues stemmed from loans originated by Countrywide and packaged and sold ... crisis that devastated our economy in 2008, it, Merrill Lynch and Countrywide sold billions of dollars of RMBS [residential mortgage-backed securities] backed by toxic loans whose quality ...

  3. News - Hong Kong - COURTS

    Pilot sued over loan default by Australian betting syndicate chairman

    Posted Sep 14th 2014, 06:15am by JULIE CHU

    ... Julie Chu julie.chu@scmp.com Pilot faces HK$12m suit over defaulted loan An Australian businessman has launched a lawsuit in Hong Kong to pursue A$1.8 million (HK$12.6 million) in debts ... of the loan, pilot and businessman Leslie Gordon, is based in the city. Colaciello is suing Gordon for the repayment of A$1.5 million plus A$300,000 interest after the borrower, Bill Vlahos, defaulted ...

  4. Business - Banking & Finance - FINANCE

    JPMorgan in US$4.5b settlement with buyers of mortgage-backed securities

    Posted Nov 16th 2013, 02:05pm by AP

    ... has said that most of its mortgage-backed securities came from investment bank Bear Stearns and savings and loan Washington Mutual, troubled companies that JPMorgan acquired in 2008. ... giants, the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation, about risky mortgage-backed securities. That part of the deal was announced on October 25. Those ...

  5. News - Hong Kong - COURTS

    District councillor gets deferred jail term over mortgage fraud

    Posted Dec 07th 2013, 03:52am by JULIE CHU

    ... Julie Chu julie.chu@scmp.com Judge says Hang Seng Bank 'recklessly' granted home loans obtained with false documents Councillor gets deferred jail term over bank fraud A district councillor who used false documents to obtain HK$6.6 million in mortgages was given a 21-month prison term, suspended for two years, by the District Court yesterday. Islands District councillor Lam ...

  6. News - Property - PROPERTY

    Hong Kong Mortgage Corporation chief hints at price rises in risky property market

    Posted Apr 16th 2013, 12:00am by KANIS LI

    ... may have to pay more for mortgage insurance because the leading provider, the Hong Kong Mortgage Corporation, is looking to offset its risk in guaranteeing their loans in a risky property ... key businesses shrank. New loans drawn under the mortgage insurance programme fell 16.3 per cent to HK$22 billion. Purchases of income-generating loan assets fell 91 per cent to HK$865 million ...

  7. News - Hong Kong - COURTS

    Rafael Hui 'too busy' to pay HK$74,000 in interest

    Posted Aug 12th 2014, 05:03am by Stuart Lau

    ... The interest was generated from a HK$3 million loan issued to Hui in 2004, for which the principal, the court heard last week, was "never repaid" despite being granted six extensions up ... Mo-cheung, then chief executive of Sun Hung Kai Properties subsidiary Honour Finance. By that time, the loan had expired four years earlier. Hui allegedly received tens of millions of dollars from ...

  8. News - Hong Kong - COURTS

    District councillor Lam Yuet admits HK$6.6 million mortgage swindle

    Posted Nov 05th 2013, 04:17am by Austin Chiu

    ... and so would reject his mortgage applications. The court heard that he successfully took out two 70 per cent loan-to-value mortgages on two Tseung Kwan O flats he bought with his father. Lam ... Austin Chiu austin.chiu@scmp.com Councillor in HK$6.6m mortgage swindle A district councillor has admitted using false documents to deceive Hang Seng Bank into granting him HK$6.6 million ...

  9. News - Hong Kong - PROPERTY

    Homebuyers face squeeze on mortgage payment protection insurance

    Posted Mar 17th 2013, 12:00am by Joyce Ng

    ... squeezed The Hong Kong Mortgage Corporation may further tighten eligibility for its payment protection insurance on home loans, in light of rising interest rates. When homebuyers take out loans ... maximum protection- for loans of up to 90 per cent of the value- only for mortgages on homes worth HK$4 million or less, down from the previous ceiling of HK$6 million. In a television interview ...

  10. Business - Banking & Finance

    Hang Seng Bank raises mortgage rates

    Posted Mar 14th 2013, 06:20pm by Lai Ying-kit

    ... Bank of China (Hong Kong) and Bank of East Asia – to keep more capital in their mortgage business, thus increasing the cost of these lenders issuing loans. Shares in Hang Seng Bank closed up ... Lai Ying-kit yingkit.lai@scmp.com Hang Seng Bank on Thursday joined two other banks in Hong Kong to raise mortgage lending rates by 25 basis points. The bank announced that its best ...




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