Posts tagged residential mortgage-backed securities.
After markets closed on Friday the 13th, the U.S. Department of Justice ("DOJ") announced an $864 million settlement regarding Moody's credit ratings of residential mortgage-backed securities ("RMBS") and collateralized debt obligations ("CDOs") leading up to the financial crisis.
Moody's will pay a $437.5 civil penalty to DOJ to resolve civil FIRREA claims and another $426.3 million to resolve potential claims by 21 State Attorneys General. The agreement also requires Moody's to implement additional compliance measures.
Moody's release said the settlement "removes ...
Tags: burr and forman, burr forman, CDOs, collateralized debt obligations, Department of Justice, DOJ, FIRREA, Mooty, residential mortgage-backed securities, RMBS, securities litigation, Securities Litigation & Arbitration