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against JPMorgan Securities, Goldman Sachs, and Wachovia, along with two suits against RBS Securities. The federal regulator says recoveries from these six legal actions, including UBS, will reduce losses accumu- lated from credit union failures since the crisis and lessen the financial burden the rest of the sector must carry to make up for those losses. The agency has settled MBS NCUA has previously filed similar actions misrepresentation claims worth more than $170 million with Citigroup, Deutsche Bank Securities, and HSBC. NCUA is the first federal regulatory agency for depository institutions to recover losses on behalf of failed financial institutions that resulted from investments in so-called faulty securities. "The strength of our entire financial sys- Kentucky rank: 22 90+ Day 2.47% 2.48% -0.31% 90+ Day 2.83% year ago 3.30% percent point change -14.34% tem relies on trust and accountability . . . UBS Securities violated this trust, which con- tributed to the collapse of two corporate credit unions and the resulting crisis in the credit union industry," said Debbie Matz, chairman of NCUA's board. "NCUA has worked to restore stability to the credit union system. Now we intend to hold UBS Securities, as well as other respon- sible parties, accountable," Matz said. In addition to misrepresentation and 1.42% Top Core-Based Statistical Area HUNTINGTON-ASHLAND, WV-KY-OH 90+ Day 2.62% year ago 2.70% percent point change -2.95% 19.23% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90- plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the July 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary July 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. omission of critical investment information, NCUA's complaint alleges systemic disre- gard, on the part of UBS, for the underwrit- ing guidelines affirmed in the offering docu- ments. UBS' actions, according to NCUA, caused U.S. Central and WesCorp to believe the risk of loss was minimal, when in fact the risk was substantial. As liquidating agent for U.S. Central and 3.48% Delinquency Rate july 2012 4.15% Foreclosure Rate 7.12% Delinquency Rate Foreclosure Rate july 2012 3.20% year ago 3.23% percent point change -0.75% Top County BATH COUNTY Delinquency Rate july 2012 7.22% Foreclosure Rate Unemployment Rate 8.3% 9.7% -14.4% IN THE NEWS CoreLogic Warns Property Damage from Isaac Could Cost $27.7B residential properties were at risk for storm- surge flooding from Hurricane Isaac when it pelted the nation's southern seaboard in late August. CoreLogic looked at seven major metro areas along the Gulf Coast identified to be at risk and found the at-risk properties to be valued at more than $27.7 billion. Isaac was downgraded from a hurricane CoreLogic warned that nearly 210,000 to a tropical storm by the National Hurricane Center before making landfall, but it still packed enough punch to do its fair share of damage, sending flood waters rising and drenching a coastal region assaulted by violent winds and rain. CoreLogic explained its analysis only Louisiana rank: 21 90+ Day 3.44% WesCorp, NCUA says it has a statutory duty to try to recover losses from responsible par- ties. Losses from credit union failures must be paid from NCUA's Temporary Corporate Credit Union Stabilization Fund. Expendi- tures from this fund must be repaid through assessments against all federally insured credit unions. Thus, any recoveries would help to reduce the amount of future assess- ments on credit unions and minimize the cost of failures on the industry as a whole, NCUA explained. Operating much like the FDIC, NCUA 3.45% -0.22% 90+ Day 6.34% year ago 6.09% percent point change 4.03% -2.66% Top Core-Based Statistical Area NEW ORLEANS-METAIRIE-KENNER, LA 90+ Day is the independent federal agency created by Congress to regulate, charter, and supervise federal credit unions. With the backing of the full faith and credit of the U.S. government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 93 million account holders in all federal credit unions and the majority of state-chartered credit unions. 94 3.73% year ago 3.67% percent point change 1.80% -3.08% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90- plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the July 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary July 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. 4.34% Delinquency Rate july 2012 4.20% Foreclosure Rate 7.32% Delinquency Rate Foreclosure Rate july 2012 3.30% year ago 3.39% percent point change -2.55% Top County ST. BERNARD PARISH Delinquency Rate july 2012 7.12% Unemployment Rate 7.6% 7.3% 4.1% Foreclosure Rate measures damage from storm surge and not potential damage from wind and rain associated with hurricanes. New Orleans, Louisiana, bore the brunt of Isaac's wrath, as projected by CoreLogic's study released prior to the storm's collision with the U.S. Potential Exposure to Damage New Orleans: Number of properties: 195,834 Value: $26,299,658,621 Baton Rouge: Number of properties: 2,625 Value: $24,372,620 Biloxi-Gulfport: Number of properties: 3,978 Value: $388,110,797 Mobile: Number of properties: 1,702 Value: $172,827,000 Pensacola-Ferry Pass-Brent: Number of properties: 3,964 Value: $618,871,098 Tallahassee: Number of properties: 1,656 Value: $158,751,464

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