NEW YORK (Reuters) - Former Fannie Mae (FNMA.OB) CEO Daniel Mudd testified on Tuesday in a $1 billion civil trial over losses the company suffered on mortgage-backed securities and said it did not predict the severe decline in U.S. housing prices during the financial crisis.
Mudd appeared in Manhattan federal court after being subpoenaed by Nomura Holdings Inc (8604.T) and Royal Bank of Scotland Group Plc (RBS.L) to testify in a trial pursued by Fannie's conservator, the Federal Housing Finance Agency.
22:18 Jeffrey Epstein sex slave accuser settles lawsuit against British socialite who allegedly pimped her out13
02:13 ‘America’s Got Talent’ production company sued by contestant who claims Tyra Banks tried to ‘physically manipulate’ her daughter15
21:38 Snoop Dogg and Dr. Dre Off the Hook in 'Ain't No Fun' Lawsuit176