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UBS will pay $1.44 billion in penalties to settle allegations brought by the Department of Justice that the company defrauded investors in connection with the sale of residential mortgage-backed ...
A Thomson Reuters Extel survey ranked UBS number one in all three of the key disciplines of research: Research (tenth year); Sales (ninth year running); and Equity Trading and Execution (up from second place in 2009). UBS was also named as the number one leading pan-European brokerage firm for economics and strategy research. [274]
UBS agreed to pay $1.435 billion to settle U.S. charges that the Swiss lender misled investors into buying troubled mortgage securities, concluding an industrywide probe into a root cause of the ...
UBS AG (UBSG.S) has reached a $230 million settlement to resolve charges brought by New York state that it misled and hurt investors by selling subprime mortgage securities that contributed to the ...
UBS also entered the life insurance business in 1993 establishing UBS Life. UBS formed a joint venture with Swiss Life in 1995, known as UBS Swiss Life. UBS took a 25% ownership position in Swiss Life in exchange for a 50% share in the joint venture. [5] UBS entered the 1990s clearly the largest and most conservative of the three large Swiss Banks.
The settlement also imposed a number of specific limitations on Fairbanks’s ability to charge fees and engage in certain practices when servicing mortgage loans. Fairbanks changed its name to Select Portfolio Servicing, Inc. effective June 30, 2004 according to its Articles of Amendment.
A mortgage point could cost 1% of your mortgage amount, which means about $5,000 on a $500,000 home loan, with each point lowering your interest rate by about 0.25%, depending on your lender and loan.
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