The decline in operating income was principally attributable to lower mortgage application volumes as well as charges associated with cost-reduction programs, including severance and real estate.
time income effect in the 2013 IFRS results. In total, these costs and impairments resulted, after taxes, in a 10% lower net income on an IFRS basis in 2014 (down 16% in Swiss francs). Core net income, which excludes these items, was 6% higher than 2013 (stable in Swiss francs).
Ocwen and FIS agree to settle lawsuit over alleged audit abuses People on the move: April 26 Goldman Sachs affiliate wins Fannie Mae reperforming loan sale · The bank has also conceded that it originated risky mortgage loans and made misrepresentations about the quality of those loans to Fannie Mae, Freddie Mac and the Federal Housing Administration.” Citigroup: In July 2014, Federal and State authorities secured a $7 billion settlement with Citigroup “for misleading investors about.