Category Archives: bondholder actions
New York Judge Tosses Greenwich Suit Against Countrywide Over Loan Modifications For Failure To Follow PSA Procedure
In a ruling dated October 7, 2010, New York County Supreme Court Judge Barbara R. Kapnick tossed out Greenwich Financial’s lawsuit against Countrywide. The suit sought a declaratory judgment that Countrywide had to repurchase any loans that it modified pursuant … Continue reading
BofA and Countrywide Appeal Order Allowing MBIA Vicarious Liability Claim To Proceed
In a move that could have dramatic consequences for the financial stability of Bank of America (BofA), a New York state court judge has held that monoline bond insurer MBIA can go forward with claims that BofA be held vicariously … Continue reading
Federal Home Loan Bank of San Francisco Sues Over RMBS Losses As Investor Actions Build Steam
One month ago, with the filing by the Federal Home Loan Bank of Seattle of eleven lawsuits against the major Wall Street creators of residential mortgage-backed securities (RMBS), I speculated that the floodgates of investor litigation may finally be swinging … Continue reading
