Category Archives: Greenwich Financial Services

Strange Bedfellows: Barney Frank’s Falling Out With Wall Street Leaves Him Aligned With Former Nemesis

I have seen some strange things during my time covering the mortgage crisis, but this one may beat them all. On August 20, 2010, representative Barney Frank (D-MA) sent a letter to Barack Obama, urging the President to appoint a … Continue reading

Posted in Barack Obama, Barney Frank (D-MA), BofA, campaign finance, FHFA, Greenwich Financial Services, Investor Syndicate, Paul Kanjorski, rep and warranty, repurchase, servicers, William Frey | 2 Comments

BofA and Countrywide Appeal Order Allowing MBIA Vicarious Liability Claim To Proceed


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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

Posted in Attorneys General, BofA, bondholder actions, Countrywide, Greenwich Financial Services, loan files, merger, mortgage insurers, predatory lending, settlements, successor liability, vicarious liability, William Frey | 10 Comments

Countrywide Files Motion to Dismiss in Greenwich Financial Case


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With Greenwich Financial v. Countrywide having been remanded to New York state Supreme Court, Countrywide has now filed a Motion to Dismiss, arguing that Greenwich Financial’s Complaint is barred by the operative securitization agreements. As discussed in several prior posts, … Continue reading

Posted in consitutionality, Countrywide, Greenwich Financial Services, Helping Families Save Homes, HERA, loan modifications, motions to dismiss, remand, Servicer Safe Harbor, subprime, Takings Clause | Leave a comment

Article on William Frey, Countrywide and the Servicer Safe Harbor Published in Lombard Street E-Journal


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I am excited to report that FinReg21, a leading website on financial services regulation, has published a feature-length article by me, entitled Why Should Servicers Get a Safe Harbor? How One Investor’s Lawsuit Forced Bank of America to Seek Shelter … Continue reading

Posted in consitutionality, Countrywide, FinReg 21, Greenwich Financial Services, Helping Families Save Homes, legislation, litigation, loan modifications, Servicer Safe Harbor, William Frey | Leave a comment

Grais & Ellsworth Launches ABS Investor Blog


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On Monday, New York law firm Grais & Ellsworth jumped into the legal blogosphere with a new law blog on the fallout from the subprime mortgage crisis entitled “The ABS Investor Advocate.” According to named partner David Grais, the blog’s … Continue reading

Posted in Grais and Ellsworth, Greenwich Financial Services, Helping Families Save Homes, investors, legislation, litigation, loan modifications, Servicer Safe Harbor, subprime, William Frey | Leave a comment