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  • November 29, 2014
  • Last updated: 11:26am
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Results 1 - 5 of 5 for subprime mortgages

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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 ...

  2. Business - Banking & Finance - BANKING

    China Merchants rises in earnings and bad loans

    Posted Aug 18th 2012, 12:00am by Lulu Chen

    ... Lulu Chen lulu.chen@scmp.com Analysts say overall loan demand remained weak in the first six months of the year China Merchants rises in earnings and bad loans China Merchants Bank, the country's sixth-largest lender by market capitalisation, said ba ...

  3. News - World - BANKING

    Ex-head of Spain's Caja Madrid accused over Florida bank takeover

    Posted May 19th 2013, 12:00am by AFP

    ... in the US subprime mortgage meltdown that year. The judge said he saw "reasonable indications of criminal responsibility" in that takeover. Caja Madrid paid US$1.17 billion to take over ...

  4. 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 ...

  5. Business - Banking & Finance - BANKING

    China's asset-backed securities market expands despite worries

    Posted Sep 09th 2013, 12:00am by JANE CAI

    ... in 2009 and 2010, an amount equivalent to 24 per cent of the GDP of those two years. Lax risk controls could lead to a financial crisis, just as toxic ABS triggered the United States subprime ... backed by loans, leases, receivables or mortgages- are sold by banks to special purpose vehicles (SPV). SPVs bear the default risk after bankers pool and then split the assets into securities. ...



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