Wells Fargo Owes 125M in Mortgage Suit

first_img After a contentious suit, “”Wells Fargo””:https://www.wellsfargo.com/ agreed to settle with a group of pension funds and investors over allegations the mortgage giant dropped the ball on the risks involved with mortgage-backed securities, which plaintiffs called subpar and poorly written.[IMAGE]””Wells Fargo””:https://www.wellsfargo.com/ settled in a California federal court on Wednesday, ending a nearly two-year exchange between several pension funds and the bank. The funds included those in Alameda County, Detroit, Guam, and New Orleans, among others.[COLUMN_BREAK]””The proposed settlement agreement is a negotiated resolution as to all named defendants and is intended to avoid the distraction and expense of litigation,”” Ancel Martinez, a spokesperson for “”Wells Fargo””:https://www.wellsfargo.com/, said in a telephone interview, according to “”_Bloomberg News_””:http://www.bloomberg.com/news/2011-07-07/wells-fargo-to-pay-125-million-to-settle-mortgage-backed-securities-case.html?cmpid=yhoo.In their complaint, the plaintiffs alleged that “”Wells Fargo””:https://www.wellsfargo.com/ sold a set of 28 mortgage-backed securities in 2005 and 2006, misstating and neglecting important details related to the quality of the mortgages. “”Wells Fargo””:https://www.wellsfargo.com/ denied the allegations.The troubled mortgage giant must still settle other lawsuits regarding mortgage-backed securities. Plaintiffs in the suits include investors from “”Charles Schwab Corp.””:https://www.schwab.com/public/schwab/home/welcomep.html, several Federal Home Loan Banks, and others, all of which want billions of dollars in settlements, according to “”Dow Jones Newswire””:http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201107081006dowjonesdjonline000356&title=update-wells-fargo-settles-mortgage-backed-security-suit-for-125-million.Courts still need to sign off on the settlements, with a final ruling required sometime in the fall. The suit follows a “”Bank of America Corp.””:https://www.bankofamerica.com/ agreement to settle $8.5 billion in investor claims over bond sales guaranteed by home loans packaged by Countrywide Financial Corp., according to “”_Bloomberg News_””:http://www.bloomberg.com/news/2011-07-07/wells-fargo-to-pay-125-million-to-settle-mortgage-backed-securities-case.html?cmpid=yhoo. Agents & Brokers Bank of America Lenders & Servicers Processing Service Providers Wells Fargo 2011-07-08 Ryan Schuette Share Wells Fargo Owes $125M in Mortgage Suitcenter_img in Origination, Servicing July 8, 2011 448 Views last_img read more

Read more

Derrick Hall satisfied with Dbacks buying and se

first_img Derrick Hall satisfied with D-backs’ buying and selling Former Cardinals kicker Phil Dawson retires I’ll be back better than ever. To the cardinal fans & Dockett fans I love you all. I’ll make sure I never forget y’all on this journey! #90— DARNELL DOCKETT (@ddockett) August 19, 2014 Thank you all for your support & get well wishes. I really do appreciate it. This will be a tough road to recovery but I been through worst.— DARNELL DOCKETT (@ddockett) August 19, 2014 – / 21 The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Top Stories Grace expects Greinke trade to have emotional impact Arizona Cardinals defensive tackle Darnell Dockett suffered a devastating injury at practice on Monday. The 10-year Cardinal had to be carted off the field and it was later confirmed he had tore his ACL and would need season-ending surgery. It will be impossible to measure how much of a loss Dockett — one of the leaders and most out-spoken Cardinals — will be. Dockett took to Twitter late Monday to express his thanks for the early support he has received and to let his team know he’ll be there for them the best he can. And to my teammates & coaches y’all know ill be there with y’all through the up and downs. Loyalty trust & respect. Love y’all! #weallwegot— DARNELL DOCKETT (@ddockett) August 19, 2014 Comments   Share   last_img read more

Read more

Cloud Search has been extended to help enterprise customers find data stored

first_img How Disney Uses Spontaneity to Make Customers Feel Like… Sponsored Content by Disney Institute Captions Audio Trackdefault, selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenGoogle enterprise customers can now use one tool to search through all of their data, regardless of where it’s stored.The company announced on Wednesday that it’s extending its Cloud Search tool to work with third-party services like Salesforce, SAP, and SharePoint. Previously the search tool, which debuted in February 2017, only crawled data that companies stored in G Suite and on local servers.“Alleviating the problem of finding the right information at the right moment is a place we think we’re uniquely positioned to do well,” said Julie Black, director of product management at Google. “Looking forward, it all comes down to A.I. driving competitive advantage.”Google says it abides by a contractual commitment to its business customers that states it will not use their data for any other purpose than to deliver the service or to help with a support request. That means Google doesn’t track customer data for advertisement purposes or product improvements, Sadowski said.“Generally all of that is considered user data,” said Rob Sadowski, Google’s trust and security marketing lead. “We have very strict rules around user data.”In addition, to ensure security and privacy, Google also stores G Suite and customer data in isolation from each other.To double down on its privacy promises, last year Google Cloud rolled out a product called Access Transparency, which logs when administrators access customer data, and Access Approval, which allows companies to approve or deny Google’s requests for access. Access Transparency is currently being tested on G Suite.Google Cloud’s new search tool is designed to help the company compete with dominant rival Amazon Web Services, which released its own cloud search tool in 2012. The tool also follows a commitment Google made in 2017, when it partnered with Salesforce and promised to provide tools that work with the sales service.The announcement was part of a series of updates Google announced in San Francisco during its annual conference Google Cloud Next, which is geared toward informing current and potential business customers, IT professionals, and developers.Along with the extension of Cloud Search, Google announced three other G Suite updates. Google Assistant now connects with the G Suite calendar, letting business customers ask the virtual assistants for information about their day. The Hangouts chat feature is also coming to Gmail, combining all communications in one place.Finally, Google has extended Voice to cover a customer’s entire employee base, giving them access to transcribed voicemails and the ability to block spam calls. Voice also provides text-to-speech capabilities that can be used for recorded greetings.G Suite, which serves more than 5 million business customers, will continue to roll out products focused on improving the work environment for the mobile workforce, Black said.“More and more data is created every day, and enterprises that make really good use of that information are well-positioned to have a competitive advantage,” she added.You May Likecenter_img HealthFormer GE CEO Jeff Immelt: To Combat Costs, CEOs Should Run Health Care Like a BusinessHealthFor Edie Falco, an ‘Attitude of Gratitude’ After Surviving Breast CancerLeadershipGhosn Back, Tesla Drop, Boeing Report: CEO Daily for April 4, 2019AutosElon Musk’s Plan to Boost Tesla Sales Is Dealt a SetbackMPWJoe Biden, Netflix Pregnancy Lawsuit, Lesley McSpadden: Broadsheet April 4 ShareVideo Player is loading.Play VideoPauseMuteCurrent Time 0:00/Duration 1:15Loaded: 0.00%0:00Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:15 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedEnglishlast_img read more

Read more