Former top commercial mortgage-backed securities strategist Trevor Murray accused the Swiss lender of illegally firing him in 2012 for blowing the whistle on attempts by traders to influence his research reports.
That’s an about-face from the bank’s previous transaction, completed in October, which was backed by fixed-rate mortgages, nearly half of which were underwritten to standards for purchase by Fannie Mae or Freddie Mac.
A Fed committee studying Libor’s replacement has dwelled heavily on the potential impact to the derivatives market. Loans may become a bigger part of the conversation later this year, but the panel plans to leave a lot of the specifics up to lenders.
JPMorgan Chase is among four banks sued by a trustee for investors in the debt of Millennium Health LLC, alleging the lenders failed to inform them of a federal probe into the billing practices of the borrower.