Goldman to stop controversial mortgage practices
Goldman Sachs’ mortgage subsidiary agreed Thursday to stop many of its controversial mortgage-related practices in a settlement with a New York state banking regulator. The New York’s Department of Financial Services and Banking Department said the settlement was a condition to Goldman Sachs Group Inc.’s sale of its Litton Loan Servicing subsidiary to a mortgage [...]
Goldman Sachs agreed to buy back more than $5 million in auction rate securities from Colorado investors in a settlement with the Colorado Division of Securities. The settlement came after allegations that Goldman Sachs made misleading representation that auction rate securities were secure, liquid securities that were a suitable alternative for cash management purposes. The [...]
Continue reading …Goldman Sachs easily beat analysts’ forecasts with its third-quarter earnings report. Goldman Sachs Group Inc. said Monday that earnings available to common shareholders were $1.74 billion, or $2.98 per share, during the quarter. That’s below the $3.03 billion, or $5.25 per share, it earned during the third quarter last year, but much higher than the [...]
Continue reading …The government has accused Goldman Sachs & Co. of defrauding investors by failing to disclose conflicts of interest in mortgage investments it sold as the housing market was faltering.
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