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  1. Business - Banking & Finance - BANKING

    Citigroup to pay US$7b in settlement on US subprime mortgage fiasco

    Posted Jul 15th 2014, 01:36am by AP

    ... Associated Press in Washington Citi settles subprime probe for US$7b Citigroup will pay US$7 billion to settle an investigation into risky subprime mortgages, the type that helped fuel the US financial crisis. The settlement stems from the sale of securities made up of subprime mortgages, which fuelled both the housing boom and the bust that triggered the Great Recession ...

    http://www.scmp.com/business/banking-finance/article/1554353/citigroup-pay-us7b-settlement-us-subprime-mortgage-fiasco
  2. News - World - BANKING

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

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

    ... The Guardian in New York Bank of America to pay a record fine of US$17b Bank of America has agreed to pay a record US$16.65 billion to settle charges it sold flawed mortgage securities ... The settlement comes as US prosecutors are preparing a civil lawsuit against Angelo Mozilo, co-founder of Countrywide Financial, the largest subprime lender before the financial crisis. Bank of America ...

    http://www.scmp.com/news/world/article/1578802/bank-america-pay-us16-billion-over-flawed-security-mortgages
  3. HSBC mulls US acquisitions amid subprime mortgage woes

    Posted Apr 02nd 2008, 12:00am by Staff Reporter

    ... Maria Chan HSBC Holdings, the global lender haunted by US subprime mortgage woes, has indicated that it has no plans to pull out of the US market and may even make acquisitions there. ... measures to address the US subprime problem, including business restructuring, tightened mortgage underwriting criteria, and reduced assets through sales and write-downs. He said that the mortgage ...

    http://www.scmp.com/article/632223/hsbc-mulls-us-acquisitions-amid-subprime-mortgage-woes
  4. HSBC accused of undervaluing subprime mortgage bonds

    Posted Oct 20th 2007, 12:00am by Staff Reporter

    ... HSBC Holdings is being sued by a US real estate fund for allegedly deliberately undervaluing the market price of several subprime mortgage bonds, the Wall Street Journal reported ... office placed an improperly low valuation on nine subprime mortgage bonds, which were being sold by the fund's subsidiaries in return for loans. Pierre Goad, an HSBC spokesman in London, ...

    http://www.scmp.com/article/612221/hsbc-accused-undervaluing-subprime-mortgage-bonds
  5. Business - Banking & Finance

    UBS agrees US$885m deal for subprime lawsuit

    Posted Jul 27th 2013, 12:00am by BLOOM

    ... subprime mortgage losses that pushed them towards insolvency. UBS disclosed this week that it had reached an agreement in principle to settle the suit. "The satisfactory resolution ... Bloomberg in Washington UBS agrees US$885m deal for subprime lawsuit UBS, Switzerland's largest bank, has agreed to pay US$885 million to Fannie Mae and Freddie Mac to settle claims ...

    http://www.scmp.com/business/banking-finance/article/1291603/ubs-agrees-us885m-deal-subprime-lawsuit
  6. Business - China Business - CREDIT RATINGS

    Echoes of US subprime seen in China debt ratings

    Posted Mar 08th 2014, 01:40am by BLOOM

    ... Bloomberg Market warned that competition among China's rating agencies is leading to a fall in standards Echoes of US subprime seen in China debt ratings Competition among ... for the worst downturn since the Depression that began in 1930, as rating companies lowered standards to win business amid a housing boom that fuelled issuance of mortgage-backed bonds. China ended ...

    http://www.scmp.com/business/china-business/article/1443106/echoes-us-subprime-seen-china-debt-ratings
  7. Business - Banking & Finance

    Ex-Goldman banker Tourre denies creating subprime 'monstrosities'

    Posted Jul 26th 2013, 09:04am by BLOOM

    ... Bloomberg in New York Failed US$1b subprime mortgage investment was not designed to fail, court told Ex-banker denies creating 'monstrosity' Fabrice Tourre has previewed his ... Paulson. The SEC claims Tourre hid that Paulson helped choose the portfolio of subprime mortgage-backed securities underlying Abacus, then made a US-billion-dollar bet it would fail. Tourre's ...

    http://www.scmp.com/business/banking-finance/article/1291047/tourre-stand-says-email-sec-case-not-accurate
  8. Subprime problems unlikely to keep HK market down

    Posted Aug 17th 2007, 12:00am by Jake Van Der Kamp

    ... Jake van der Kamp 'Hong Kong stocks fell yesterday, pushing the Hang Seng Index to a two-month low, on concern United States subprime mortgage losses would spread, dampening global ... refrain that I have heard over the last two weeks about this subprime mortgage business in the US- 'Why is anyone surprised? This was waiting to happen for several years. We knew it had ...

    http://www.scmp.com/article/604480/subprime-problems-unlikely-keep-hk-market-down
  9. Fitch cuts HK growth forecast to 4.4pc on subprime, oil concerns

    Posted Feb 21st 2008, 12:00am by Enoch Yiu

    ... the strong stock market, which will offset the provisions made for the subprime mortgage-structured products.' The hardest-hit lender would be Citic Ka Wah Bank, but its ultimate parent, Citic ... Enoch Yiu Fitch Ratings yesterday cut its estimate of Hong Kong's economic growth this year to 4.4 per cent from 5.3 per cent due to a host of factors ranging from the subprime ...

    http://www.scmp.com/article/627000/fitch-cuts-hk-growth-forecast-44pc-subprime-oil-concerns
  10. Sub-prime loans natural evolution of easier cash

    Posted Apr 11th 2007, 12:00am by Leland Sun

    ... Leland Sun Never have I received more e-mails or telephone calls about what has been going on in the sub-prime mortgage market in the United States than in the past month or so. Let me try to put things in simple English. First, what is sub-prime mortgage lending? Simply, it is the lending to borrowers who do not qualify for loans from traditional mortgage lenders, typically banks. ...

    http://www.scmp.com/article/588455/sub-prime-loans-natural-evolution-easier-cash

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