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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.

Read the source article at ladailypost.com

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