FDIC reaches $63M RMBS settlement with Morgan Stanley

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21, 2011. Along with $24 million from a settlement with Morgan Stanley last year of RMBS claims related to Franklin Bank, S.S.B., of Houston, Texas, which failed on November 7, 2008, this settlement brings total rmbs claim settlements by the FDIC with Morgan Stanley to $86.95 million.

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Morgan Stanley Settles RMBS Litigation with FDIC for $63M. and the settlement agreement specified that the parties settled in order to avoid further litigation.. RMBS Suit to Proceed Against.

This brings total RMBS claim settlements by the FDIC with Morgan Stanley to $86.95 million since it includes a $24 million from a settlement last year related to RMBS claims with Franklin Bank, of.

Morgan Stanley is nearing the end of its $400 million consumer relief obligation that is part of the $3.2 billion mortgage bond settlement it reached last year. The settlement covers Morgan Stanley’s “deceptive” mortgage bond practices in the run-up to the financial crisis and requires the company to provide 0 million in consumer relief.

Along with $24 million from a settlement with Morgan Stanley last year of RMBS claims related to Franklin Bank, S.S.B., of Houston, Texas, which failed on November 7, 2008, this settlement brings total RMBS claim settlements by the FDIC with Morgan Stanley to $86.95 million.

FDIC said the settlement funds of residential mortgage-backed securities claims against Morgan Stanley & Company LLC. will be distributed among the receiverships for the banks.

Morgan Stanley Agrees to Pay $2.6 Billion Penalty in Connection with Its Sale of residential mortgage backed Securities The Justice Department today announced that Morgan Stanley will pay a $2.6 billion penalty to resolve claims related to Morgan Stanley’s marketing, sale and issuance of residential mortgage-backed securities (RMBS).

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FDIC Reaches RMBS Settlement with Eight Institutions. over claims of misrepresenting the quality of certain residential mortgage-backed securities to five. when Morgan Stanley agreed to pay.

The latest settlement followed an earlier FDIC accord last year in which Morgan Stanley agreed to pay $24 million over mortgage-backed securities sold to a fourth failed bank, Franklin Bank of.