In a 66-page opinion issued yesterday, Judge Cote allowed the Federal Housing Finance Agency (the conservator of Fannie Mae and Freddie Mac)  to proceed with Securities Act claims against UBS and affiliates for false statements in the registration statements of mortgage-backed securities. Judge Cote first rejected the argument that the FHFA’s claims were time-barred because of widespread reports of questionable loan practices by originators as early as 2007:

Continue Reading Judge Cote Allows Government’s Mortgage-Backed Securities Suit Against UBS to Proceed