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Complete list of specialty news sections
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Mortgage Lawsuits News | Mortgage Litigation Index
Mortgage industry lawsuit news and mortgage litigation coverage. Stories about legal settlements, judgments and mortgage class actions.
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| Option One Settles Allegations of Securities Fraud
SEC claims RMBS investors deceived
April 25, 2012
By MortgageDaily.com staff
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The former subprime lending arm of H&R Block Inc. has agreed to a settlement over alleged deception in the sale of residential mortgage-backed securities. At issue was its commitment to repurchase bad loans even though it was incapable of meeting that commitment.
At the height of the subprime mortgage crisis, in December 2007, H&R Block made the decision to permanently shut down subsidiary Option One Mortgage Corp. The move resulted in the closing of three offices and 620 layoffs.
The closing was followed by the 2008 sale of Option One's mortgage servicing operation to American Home Mortgage Servicing Inc. |
Option One profile
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Mortgage Backed Securities | MBS News | MBS Statistics
News about commercial and residential mortgage-backed securities. Stories about ratings actions and changes to servicer ratings. Studies and reports about the performance of securitizations and problem vintages and classes. Subprime, Alt-A, home equity and j u m b o analysis.
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Nonprime and Subprime News | Subprime Statistics
Coverage of Alternative 'Alt-A', subprime and home equity lenders. Loan production reporting for largest nonprime mortgage lenders. Analysis, studies, lawsuits and other industry insight.
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Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.
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Financial Regulation News | Regulatory Actions | Mortgage Regulations Table
Bank and mortgage regulators, regulations and regulatory actions. Coverage of regulatory legislation and testimony.
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The Mortgage Graveyard
Failed, closed and a c q u i r e d mortgage-related entities.
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