A federal judge yesterday questioned National Credit Union Administration’s (NCUA) claims of malfeasance in the sale of MBS to WesCorp Federal Credit Union by RBS Securities.

He also issued a preliminary ruling that the credit union regulator has failed to show the Wall Street bank and related entities disregarded their own underwriting standards in the creation of and sale of the MBS.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.