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(Reuters) – Wells Fargo & Co., Royal Bank of Scotland Group P.L.C. and Deutsche Bank A.G. have reached a $165 million class action settlement over their underwriting for the now-bankrupt.

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 · Wells Fargo & Co., Deutsche Bank AG and the Royal Bank of Scotland PLC have agreed to pay $165 million to settle a class action lawsuit over their underwriting of $7.7 billion worth of mortgage-backed securities issued by bankrupt subprime lender NovaStar.

Bankrupt subprime lender NovaStar Financial Inc. and several Wall Street banks have agreed to pay $165 million to end a nine-year-old class-action lawsuit over risky mortgages that were bundled.

NEW YORK (Reuters) – Wells Fargo (NYSE: WFC) & Co, Royal Bank of Scotland Group (LON: RBS) Plc and Deutsche Bank AG (DE: DBKGn) have reached a $165 million class-action settlement over their.

NovaStar, RBS, Wells Fargo, Deutsche Bank to Pay $165 Million in MBS Settlement. investors achieved a $165 million all-cash settlement today in connection with losses from securities issued by NovaStar Mortgage Inc.,

Delinquent mortgages, foreclosures outnumber distressed sales 50:1 Delinquent Loans Outnumber Foreclosure Sales 50:1. Nearly 4.1 million loans nationwide are 90 days delinquent or in foreclosure, according to Lender Processing Services’ May Mortgage Monitor report, National Mortgage News reported June 29. According to the report, foreclosure sales totaled 78,676 at the end of May.

In the settlement, Wells Fargo agreed to pay $1.2 billion and admitted, acknowledged and accepted responsibility for, among other things,

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Big banks have cut yet another settlement from the mortgage crisis at pennies on the dollar. Wells Fargo, Royal Bank of Scotland and Deutsche Bank have reached.. a $165 million class-action settlement of investor claims over their. roughly $7.55 billion of NovaStar mortgage-backed securities they.

 · Deutsche Bank, Royal Bank of Scotland, and Wells Fargo reached a $165 million settlement in class action lawsuit brought by pension funds over faulty crisis-era mortgages originated NovaStar Mortgage, the plaintiffs’ attorneys announced on Wednesday. If approved by judge, the settlement would bring a nine-year legal

NEW YORK (Reuters) – Wells Fargo & Co, Royal Bank of Scotland Group Plc and Deutsche Bank AG have reached a $165 million class-action settlement of investor claims over their underwriting for the.

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 · By Jonathan Stempel. NEW YORK (Reuters) – Wells Fargo & Co, Royal Bank of Scotland Group Plc and Deutsche Bank AG have reached a $165 million class-action settlement over their underwriting for the now-bankrupt subprime lender NovaStar Mortgage Inc.