Category Archives: impact of the crisis

Upcoming Presentation: Trends in MBS Litigation

I am pleased to announce that I will be speaking in and presenting at an upcoming Strafford live phone/web seminar, “Mortgage-Backed Securities Litigation: Latest Developments” scheduled for tomorrow, Thursday, November 15, 1:00pm-2:30pm EST. This will be largely geared towards attorneys … Continue reading

Posted in bondholder actions, broader credit crisis, class actions, Complaints, conflicts of interest, contract rights, costs of the crisis, counterparty risk, damages, derivative lawsuits, discovery, education, fraud, gatekeeper litigation, global catastrophe defense, global settlement, impact of the crisis, investors, irresponsible lending, Judicial Opinions, jury trials, lawsuits, liabilities, litigation, loss causation, MBS, misrespresentation, monoline actions, pooling agreements, Presentations, private label MBS, putbacks, rep and warranty, repurchase, research, responsibility, RMBS, securities, securities laws, securitization, sellers and sponsors, settlements, standing, statistical sampling, statutes of limitations, summary judgment, The Subprime Shakeout, Trustees, underwriting practices | 1 Comment

Investor End Games: All Is Not Well in the Garden

“As long as the roots are not severed, all is well.  And all will be well in the garden.” – Chance the Gardener, Being There (1979) With Judge Barbara Kapnick announcing earlier this month that the approval hearing in Bank … Continue reading

Posted in AIG, allocation of loss, ASF, Attorneys General, Bank of New York, banks, BlackRock, Bloomberg, BofA, bondholder actions, causes of the crisis, conflicts of interest, consitutionality, contract rights, costs of the crisis, Countrywide, damages, Deutsche Bank, discovery, eminent domain, fiduciary duties, foreclosure crisis, fraud, global settlement, Grais and Ellsworth, impact of the crisis, incentives, investors, irresponsible lending, Judge Barbara Kapnick, Judge Eileen Bransten, junior liens, Kathy Patrick, lawsuits, lenders, lending guidelines, liabilities, LIBOR manipulation, liquidity, litigation, litigation costs, lobbying, MBIA, MBS, misrespresentation, monoline actions, monolines, mortgage fraud, mortgage insurers, mortgage market, negative equity, Neil Barofsky, private label MBS, procedural hurdles, putbacks, recession, rep and warranty, repurchase, Residential Capital, responsibility, restructuring, RMBS, securities, securitization, sellers and sponsors, settlements, standing, statistical sampling, statutes of limitations, successor liability, summary judgment, The Subprime Shakeout, too big to fail, toxic assets, Treasury, Trustees, underwriting guidelines, underwriting practices, US Bank, vicarious liability, waiver of rights to sue, Wall St., Walnut Place, Way Too Big to Fail, Wells Fargo, William Frey | 2 Comments

The Top 5 RMBS Cases to Watch this Summer: No. 1 – MBIA v. Countrywide, BofA

After a week-long build-up (I’m sure the suspense is killing you), we’ve reached the No. 1 case in our countdown of RMBS Cases to Watch this Summer.  You may wish to catch up with parts I, II, III, and IV, … Continue reading

Posted in accounting, allocation of loss, appeals, Bank of New York, banks, BofA, bondholder actions, contract rights, costs of the crisis, Countrywide, damages, discovery, fraud, global settlement, impact of the crisis, incentives, investors, irresponsible lending, Judge Barbara Kapnick, Judge Eileen Bransten, Judicial Opinions, jury trials, lawsuits, lenders, lending guidelines, liabilities, litigation, litigation costs, loss causation, MBIA, MBS, media coverage, misrespresentation, monoline actions, monolines, mortgage fraud, private label MBS, putbacks, quinn emanuel, rep and warranty, repurchase, responsibility, RMBS, securitization, settlements, statutes of limitations, subprime, successor liability, The Subprime Shakeout, timeline, Trustees, underwriting guidelines, underwriting practices, vicarious liability | 4 Comments

My Take On Newly Filed AG Foreclosure Settlement: As Bad As We Thought It Was

“They are who we THOUGHT they were — and we let ‘em off the hook!” This famous postgame rant from former Arizona Cardinals coach Denny Green after his team’s epic meltdown on Monday Night Football against the Bears could just … Continue reading

Posted in allocation of loss, Ally Bank, Attorneys General, bailout, bankruptcy, banks, Bloomberg, BofA, broader credit crisis, chain of title, Citigroup, Complaints, contract rights, costs of the crisis, damages, foreclosure crisis, global settlement, Government bailout, homeowner relief, Hope For Homeowners, impact of the crisis, improper documentation, incentives, interest rates, investigations, investors, JPMorgan, Judge Jed Rakoff, judicial momentum, junior liens, lawsuits, liabilities, litigation, loan modifications, loss causation, LTV, MBS, misrespresentation, mortgage fraud, negative equity, oversight, Regulators, Residential Capital, RMBS, robo-signers, SEC, securities, securitization, servicer defaults, servicers, settlements, stipulated judgments, waiver of rights to sue | 7 Comments

Navigant Publishes Press Release on Subprime Litigation Study

Navigant Consulting has put out a press release with respect to its latest study, entitled Third Quarter 2008 Update: Breaking New Ground, which details the unprecedented rise in subprime mortgage-related litigation. Besides the eye-popping statistics showing the exponential rise in … Continue reading

Posted in broader credit crisis, impact of the crisis, lawsuits, litigation, Navigant Consulting, recession, subprime | Leave a comment