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  • http://www.subprimeshakeout.com/2012/03/mbs-discovery-battles-heating-up-impacting-litigation-timelines-and-leverage.html MBS Discovery Battles Heating Up, Impacting Litigation Timelines and Leverage | The Subprime Shakeout

    [...] previously reported, the proposed $8.5 billion settlement by Bank of New York Mellon (BNYM) over Countrywide loan [...]

  • http://www.subprimeshakeout.com/2012/04/new-york-judge-strikes-blow-to-investor-putback-claims.html New York Judge Strikes Blow to Investor Putback Claims | The Subprime Shakeout

    [...] New York Judge Strikes Blow to Investor Putback Claims Posted on April 4, 2012 by igradman  Email This Post Investors in Countrywide mortgage backed securities (MBS) were dealt a setback on Friday in their efforts to force the former subprime lender to repurchase defective mortgage loans.  Judge Barbara Kapnick’s decision, in New York Supreme Court, held that investors going under the name Walnut Place (revealed in court papers to be the hedge fund Baupost) did not have standing to pursue mortgage repurchase claims against Countrywide and Bank of America, as those claims were being pursued by the Trustee of those securitizations.  This decision sets the stage for all issues surrounding Bank of New York Mellon’s (BNYM) conduct in pursuing Countrywide mortgage putbacks to be adjudicated in a single forum, in the context of BNYM’s proposed $8.5 billion state court settlement with Countrywide and Bank of America. [...]

  • http://www.subprimeshakeout.com/2013/05/the-bell-tolls-for-bofa.html The Bell Tolls for BofA | The Subprime Shakeout

    [...] but this is down from the 65-75% likelihood of success that I would have given it after the case returned to state court and before all of the aforementioned legal developments were handed down in related cases.  Still, [...]