MBS

Royal Bank of Scotland said it reached a tentative agreement to pay a $4.9 billion penalty to resolve a long-running U.S. probe into its packaging and sale of mortgage-backed securities before the 2008 financial crisis.

A former Cantor Fitzgerald managing director was cleared of charges that he defrauded customers by lying about prices of mortgage-backed securities.

A federal jury is poised to determine whether a former Cantor Fitzgerald managing director's tactics in trading mortgage-backed securities constitute securities fraud.

After less than a week of trial, prosecutors rested their case against a former Cantor Fitzgerald trader accused of lying to his customers about bond prices.

A portfolio manager for an investment firm allegedly defrauded by a former Cantor Fitzgerald managing director said he might still work with a trader who lied to him — depending on the circumstances.

The trial of a former Cantor Fitzgerald mortgage-backed securities trader charged with lying to his clients turned contentious as his lawyer aggressively questioned one of his alleged victims about methods his firm uses to invest.

Former Cantor Fitzgerald managing director David Demos is on trial, accused of deceiving clients about the prices his firm could sell or pay for mortgage-backed securities.

After several years of preparation, Fannie Mae and Freddie Mac will start issuing a new, common mortgage-backed security starting June 3, 2019, the Federal Housing Finance Agency said Wednesday.

UBS agreed to pay $230 million to resolve a New York state probe into the Swiss bank's marketing and sales of residential mortgage-backed securities before the financial crisis, boosting the state's recoveries in the investigation to almost $4 billion.

Issuance of Ginnie Mae securities backed by reverse mortgages rose above $1 billion for the second time in two years, according to the government agency's latest monthly report.