Nomura Holdings Inc. is balking at following 16 other banks in settling a U.S. regulator’s allegations that Wall Street sold flawed mortgage securities during the housing boom, Bloomberg News reported today. Nomura’s resistance is less about the size of a penalty, which one estimate says won’t exceed $300 million, than its belief that the U.S. unit sued by the Federal Housing Finance Agency did nothing wrong. Nomura also asserts Fannie Mae and Freddie Mac might not suffer losses on the $2 billion of bonds it sold them. Nomura still has time to settle before a trial that’s scheduled to start in March.
