Category Archives: litigation
Plaintiffs Survive Motions to Dismiss in Major Subprime Class Actions Against New Century and Countrywide
The American Lawyer has reported that two important rulings were handed down earlier this month in the United States District Court in Los Angeles denying motions to dismiss class actions against former mortgage behemoths Countrywide and New Century. The Countrywide … Continue reading
Under Countrywide Stipulated Judgment, Investors Must Be Consulted
After reviewing the Complaint filed by hedge fund Greenwich Financial Services against Countrywide and BofA and listening to the comments made last week by Greenwich CEO William Frey and his attorney regarding the case, I decided to take a closer … Continue reading
Details of Greenwich v. Countrywide Emerge
An article published on Monday in Business Week (available here) sheds some additional light on the lawsuit filed by Hedge Fund Greenwich Financial Services against Countrywide challenging its agreement to conduct large-scale loan modifications (previously discussed here, here, and here). … Continue reading
Greenwich v. Countrywide Complaint Now Available
Here is the Complaint brought by Grais & Ellsworth on behalf of hedge fund Greenwich Financial Services against Countrywide Financial Corp., Countrywide Home Loans, Inc. and Countrywide Home Loans Servicing LP (all now part of Bank of America) in the … Continue reading
AMBAC Sues Bear Stearns Subsidiary For Shoddy Underwriting
Mortgage insurance company Ambac Assurance Corp. has become the latest plaintiff to bring a lawsuit against a mortgage originator for improper underwriting, suing Bear Stearns subsidiary EMC Mortgage Corp. in the United States District Court for the Southern District of … Continue reading
