UBS unit to pay over $33m in RMBS deal

A UBS unit is to pay over $33m to settle allegations by the National Credit Union Association (NCUA) that the bank lied on offering documents for residential mortgage-backed securities, thereby marking a close to a long-running suit, filed by the NCUA in its role as liquidating agent for Southwest Corporate Federal Credit Union and Members United Corporate Federal Credit Union; UBS does not admit liability for the allegations.

By Kat Greene (February 25, 2016, 10:08 PM EST) -- A UBS AG unit will pay more than $33 million to settle claims by the National Credit Union Association that it lied on offering documents for residential mortgage-backed securities, according to an offer of judgment filed Thursday in New York federal court....

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