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- The Top 5 RMBS Cases to Watch this Summer: No. 5 – Syncora v. EMC
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- 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
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- $8.5 Billion BofA Settlement of Countrywide Trusts Raises Questions for Investors on Sidelines
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Category Archives: conflicts of interest
BlackRock Attorney to Face Stiffer Challenges to Next Set of MBS Settlements
(Updated version, including new 6th paragraph on subsequent announcement of larger probe into Morgan Stanley bonds) Having received copious kudos for engineering an $8.5 billion investor settlement with Bank of America over soured Countrywide residential mortgage backed securities (RMBS), “pitbull” … Continue reading
Posted in Allstate, appeals, Attorneys General, Bank of New York, banks, BlackRock, BofA, bondholder actions, conflicts of interest, contract rights, Countrywide, emc, Event of Default, Federal Home Loan Banks, FHFA, global settlement, hedge funds, Investor Syndicate, investors, JPMorgan, jurisdiction, Kathy Patrick, lawsuits, lenders, liabilities, litigation, MBIA, MBS, Morgan Stanley, Philippe Selendy, press, private label MBS, putbacks, quinn emanuel, Regulators, remand, removability, rep and warranty, repurchase, RMBS, securities, securitization, settlements, standing, toxic assets, Wall St., Wells Fargo
7 Comments
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
New York AG Schneiderman Comes out Swinging at BofA, BoNY
This is big. Though we’ve seen leading indicators over the last few weeks that New York Attorney General Eric Schneiderman might get involved in the proposed Bank of America settlement over Countrywide bonds, few expected a response that might dynamite … Continue reading
Posted in Attorneys General, bad faith, Bank of New York, banks, BofA, chain of title, conflicts of interest, contract rights, Countrywide, discovery, fiduciary duties, global settlement, improper documentation, investigations, investors, litigation, loan files, LPS, MBS, mortgage fraud, private label MBS, RMBS, robo-signers, servicer defaults, servicers, settlements, standing, successor liability, Trustees, Uncategorized, underwriting practices, Wall St.
11 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