Category Archives: BofA
Federal Regulators Pick Fight with Banks Over Collapsed Credit Unions
Just when you thought the hubbub surrounding mortgage backed securities (MBS) was starting to subside, federal regulators have taken their most aggressive stance yet against the banks that sold toxic loans as investment grade securities, according to an article in … Continue reading
MBIA Sampling Order Signals Shorter Path to RMBS Putbacks
The news gets worse for Bank of America. Not only will it have to eat massive numbers of Countrywide-originated loans, but the bank may have to complete repurchases sooner than previously thought. Judge Eileen Bransten’s long-awaited evidentiary ruling in the … Continue reading
Bank of America Fires Off Response to BlackRock and PIMCO Demand Letter, Accuses Lawyer of "Ulterior Agenda"
In a response that can only be described as indignant, Bank of America fired back on November 4 at the group of investors that demanded that Countrywide/BofA repurchase loans in connection with $47 billion worth of private-label mortgage backed securities. … Continue reading
Countrywide Loan Modification Settlement Becomes Issue In Connecticut Senatorial Race
The ramifications of the Mortgage Crisis are being felt on this Election Day 2010, as the issues of foreclosures, loan modifications and MBS-related losses to pensionholders’ portfolios are being brought to the forefront in some key political battles. As a … Continue reading
Full Text of BlackRock, PIMCO Letter to Bank of New York and Bank of America Available
Below, please find the full text of the letter sent by Kathy Patrick and the law firm of Gibbs & Bruns to Bank of New York and BofA/Countrywide on behalf of private label mortgage investors, including BlackRock, PIMCO, MetLife, Freddie … Continue reading
