Civil Plaintiff
The New Mexico AG Announces a $32.5 Million Settlement With Financial Institutions Over Mortgage-Backed Securities
New Mexico Attorney General Hector Balderas announced Monday that he has reached a $32.5 million settlement with seven financial institutions collectively to settle allegations that the financial institutions did not adequately disclose the characteristics of certain mortgage-backed securities when they were purchased by New Mexico pension funds and a state-run investment council during 2003-2010.
The settlement resolves all claims against the seven financial institutions relating to residential mortgage-backed securities that were purchased by the State or its subdivisions or offered by the defendants or their affiliates.
