Just two days after over $0.4 billion was collected for losses suffered on residential mortgage-backed securities by failed corporate credit unions, recoveries have climbed past $5 billion.
On Monday, the National Credit Union Administration announced that it collected $445 million from UBS to settle RMBS losses at two failed corporate federal credit unions.
That brought RMBS recoveries collected on behalf of several failed corporate credit unions to $4.8 billion.
Source: Mortgage Daily
