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FACTBOX-FHFA's mortgage claims against Wall Street

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Published: Monday, 28 Jan 2013 | 5:03 PM ET

NEW YORK, Jan 28 (Reuters) - The Federal Housing Finance Agency filed 18 lawsuits in 2011 against big banks and financial institutions, accusing them of misleading Fannie Mae and Freddie Mac about the quality of loans included in mortgage-backed securities. Here are details on the cases:

- Together, the lawsuits accuse banks and other financial institutions of misrepresentations that led to losses on more than $200 billion in mortgage-backed securities, accusations that the defendants deny.

- The lawsuits generally allege violations of both federal and state securities law.

- U.S. District Judge Denise Cote in New York was appointed to oversee 16 of the lawsuits. Those cases are against UBS AG , Ally Financial Inc, Bank of America Corp, along with its Merrill Lynch & Co unit; Barclays Bank Plc; , Citigroup Inc, Credit Suisse Group AG , Deutsche Bank AG, First Horizon National Corp, Goldman Sachs Group Inc, HSBC Bank Plc; JPMorgan Chase & Co, Morgan Stanley ; Nomura Holdings Inc, Societe Generale and General Electric Co.

- General Electric Co on Jan. 23 became the first defendant to settle, a goal Cote has encouraged. Terms were not disclosed.

- Two other lawsuits are before other judges: A lawsuit against Bank of America's Countywide Financial Corp unit was transferred to U.S. District Judge Mariana Pfaelzer in Los Angeles and the case against The Royal Bank of Scotland Group PLC is pending before U.S. District Judge Alvin Thompson in New Haven, Connecticut.

- The UBS case was the first one filed. The 2nd U.S. Circuit Court of Appeals is considering whether to reverse Cote's ruling allowing the case to move forward.

- Besides the banks, 131 individuals are also defendants in the lawsuits.

- The UBS trial has been set for Jan. 13, 2014. Cote has also scheduled June 2, 2014, trial dates in the JPMorgan and Merrill cases.

(Reporting By Nate Raymond in New York; Editing by Martha Graybow and Andrew Hay)

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NEW YORK, Jan 28- The Federal Housing Finance Agency filed 18 lawsuits in 2011 against big banks and financial institutions, accusing them of misleading Fannie Mae and Freddie Mac about the quality of loans included in mortgage-backed securities.

   
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