Goldman Sachs sued again over MBS

Bond insurer CIFG Assurance has become the latest aggrieved party to sue Goldman Sachs for misrepresenting a bunch of MBS-related securities that blew up. The suit, filed on Tuesday, relates to securities built from a portfolio of 6,204 loans made by M&T, which was also sued. Goldman subsequently packaged these loans into bonds that the …

Job cuts hit hard in lending and mortgage industry

HSBC said it will also sell, shut or slim down retail operations in 39 markets, where operations are sub-scale and unprofitable and is looking to sell its U.S. credit card arm and shrink its network of 475 U.S. branches. HSBC’s move would be the latest in a wave of cuts announced by the global financial …

Update on SEC Goldman Sachs suit and Paulson bet

Why is Goldman Sachs stalling on a request from the SEC? Goldman Sachs Group Inc. will have longer to respond to the high-profile lawsuit by the Securities and Exchange Commission over disclosures regarding a collateralized debt obligation tied to subprime mortgages, a judge ruled. Apparently the CDO in question was one that caught the eye …