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- The Top 5 RMBS Cases to Watch this Summer: No. 5 – Syncora v. EMC
- Breaking News: BofA Close to Reaching $8.5 bn Settlement with BlackRock, PIMCO (100th Post)
- Mortgage Lit Roundup: Five Signs That Plaintiffs Are Winning the RMBS War
- Investor Syndicate At Hundreds of Billions And Growing
- The Government Giveth and It Taketh Away: The Significance of the Game Changing FHFA Lawsuits
- Who’s Watching the Watchmen? RMBS Trustees Come Under Fire as Investors Launch Next Wave of Lawsuits
- Top Five Reasons that MBS Lawsuits Are Just Beginning
- FDIC Sues LPS and CoreLogic Over Appraisal Fraud; Shows Investors Leaving Money on the Table
- Monoline End Games: String of Legal Wins Will Snowball Until Settlement
- $8.5 Billion BofA Settlement of Countrywide Trusts Raises Questions for Investors on Sidelines
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Category Archives: bondholder actions
BREAKING NEWS: Judge Determines BofA $8.5 bn Settlement Belongs in Federal Court
Though Bank of America (BofA) has taken its share of lumps over the past six months, this may be the one that leaves the biggest mark. In an opinion issued today in the Southern District of New York (available here … Continue reading
Posted in Bank of New York, banks, BofA, bondholder actions, class actions, conflicts of interest, contract rights, Countrywide, damages, fiduciary duties, global settlement, Grais and Ellsworth, Greenwich Financial Services, investors, lawsuits, litigation, loss estimates, MBS, pooling agreements, private label MBS, putbacks, remand, removability, repurchase, RMBS, securities, securities laws, securitization, settlements, The Subprime Shakeout, Trustees, Uncategorized, William Frey
4 Comments
RMBS Legal Roundup: The Top Five Developments You Might Have Missed While Obsessing Over the BoNY/BofA Settlement
With interesting developments occurring almost daily in the proposed Bofa/Countrywide settlement with Bank of New York, it has been hard to focus on anything else. Indeed, since the last time I posted on the settlement (discussing New York AG Eric … Continue reading
Posted in AIG, Attorneys General, Bank of New York, banks, BofA, bondholder actions, CDOs, class actions, Complaints, contract rights, costs of the crisis, Credit Unions, damages, Deutsche Bank, Fannie Mae, FHFA, Freddie Mac, global settlement, Goldman Sachs, investigations, investors, JPMorgan, lawsuits, litigation, loss causation, MBS, misrespresentation, mortgage market, motions to dismiss, NCUA, Paulson and Co., private label MBS, probes, procedural hurdles, research, reserve reporting, responsibility, RMBS, SEC, securities fraud, securitization, settlements, sophistication, standing, subpoenas, subprime, too big to fail, Treasury, Trustees, Uncategorized, Wall St.
2 Comments
Six Challenges to Countrywide RMBS Settlement Already; Rundown Shows Pact Will Be No Easy Sell for BofA
The BofA settlement blowback has already begun. If you’ve been following my recent posts (here and here) about the proposed Bank of America (“BofA”) settlement involving the Bank of New York (“BoNY”) and the Kathy Patrick-led investor group (the “Investor … Continue reading
Posted in Attorneys General, Bank of New York, banks, BofA, bondholder actions, conflicts of interest, contract rights, Countrywide, Federal Home Loan Banks, FHFA, global settlement, Grais and Ellsworth, improper documentation, incentives, investigations, investors, lawsuits, lenders, liabilities, litigation, MBS, oversight, pooling agreements, private label MBS, procedural hurdles, putbacks, rep and warranty, repurchase, RMBS, securities fraud, servicers, settlements, standing, statutes of limitations, subpoenas, toxic assets, Trustees
9 Comments
Creditor Rights: Use Them All!
by Steve Ruterman, guest blogger Much of the focus of mortgage crisis-related litigation and news coverage has been directed at put-back rights as a potential source of loss mitigation for mortgage creditors, including investors and bond insurers. However, far less … Continue reading
Posted in auditing, banks, bondholder actions, chain of title, contract rights, due diligence firms, Event of Default, firing servicers, freeriders, guest posts, improper documentation, incentives, investors, irresponsible lending, lenders, lending guidelines, loan files, MBIA, MBS, negligence and recklessness, pooling agreements, private label MBS, putbacks, re-underwriting, rep and warranty, RMBS, robo-signers, securitization, servicer defaults, servicers, standing, The Subprime Shakeout, Trustees, underwriting practices
Tagged auditing servicer compliance, Firing Servicers, Ruterman, servicer events of default
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