Category Archives: global settlement

$8.5 Billion BofA Settlement of Countrywide Trusts Raises Questions for Investors on Sidelines

Posted on June 29, 2011 by igradman

As more details emerge about Bank of America’s proposed $8.5 billion settlement with Kathy Patrick’s bondholder group and Bank of New York Mellon (“BoNY”) as Trustee, the deal looks even worse for Countrywide RMBS investors.  Now, it is apparent that … Continue reading →

Posted in allocation of loss, Bank of New York, banks, BlackRock, BofA, bondholder actions, chain of title, conflicts of interest, contract rights, Countrywide, damages, Federal Home Loan Banks, Federal Reserve, fiduciary duties, Freddie Mac, global settlement, Goldman Sachs, improper documentation, incentives, investors, irresponsible lending, Kathy Patrick, lawsuits, lenders, lending guidelines, liabilities, litigation, litigation costs, loss causation, loss estimates, MBS, MetLife, PIMCO, pooling agreements, private label MBS, procedural hurdles, putbacks, re-underwriting, rep and warranty, repurchase, responsibility, RMBS, securities, securitization, sellers and sponsors, settlements, standing, subprime, successor liability, The Subprime Shakeout, TIAA-CREF, Trustees, underwriting practices, valuation, waiver of rights to sue, William Frey | 17 Comments

Countrywide Loan Modification Settlement Becomes Issue In Connecticut Senatorial Race

Posted on November 2, 2010 by Isaac Gradman

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 →

Posted in allocation of loss, Attorneys General, BofA, Christopher Dodd (D-CT), Countrywide, global settlement, Linda McMahon, loan modifications, political ads, Richard Blumenthal, senate races, The Nation | 2 Comments

New York Fed Throws Weight Behind Mortgage Buy Backs

Posted on August 5, 2010 by Isaac Gradman

As reported in Bloomberg, the Federal Bank of New York has announced that it is involved in “multiple efforts” to exercise its rights with respect to its holdings in faulty mortgages an other assets acquired through the bailouts of Bear … Continue reading →

Posted in AIG, Bear Stearns, BlackRock, CDOs, Fannie Mae, Federal Reserve, Freddie Mac, freeriders, global settlement, incentives, Investor Syndicate, loan files, MBS, rep and warranty, repurchase, SEC | 1 Comment