Nomura paying $480 million in settlement over pre-crisis mortgage bonds

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Nomura Holding America and several of its affiliates will pay $480 million in a settlement with the Department of Justice over the companies’ mortgage bond activities in the run-up to the financial crisis. The DOJ claimed the Nomura misled investors, which included university endowments, retirement funds, federally insured financial institutions, Fannie Mae, and Freddie Mac, about the quality of the underlying loans between 2006 and 2007.