Category Archives: litigation

Recording Of Compass Point Mortgage Repurchase Call Available

We had a great turnout for the Compass Point call today on mortgage repurchase liability and I thought the questions and remarks of the various participants were interesting and informative.  For those of you who missed the call, you can … Continue reading

Posted in Compass Point, irresponsible lending, liabilities, litigation, public perceptions, rep and warranty, repurchase, reserve reporting | 3 Comments

SEC Demands More Disclosure From JP Morgan on Repurchase Liabilities

By Manal Mehta, Guest Blogger The Securities and Exchange Commission (SEC) recently took a much needed step towards improving the transparency of bank balance sheets, particularly when it comes to the adequacy of reserves for mortgage repurchase obligations stemming from … Continue reading

Posted in balance sheets, BofA, Citigroup, Countrywide, Federal Home Loan Banks, guest posts, investors, JPMorgan, lawsuits, litigation, mortgage insurers, repurchase, reserve reporting, SEC | 1 Comment

Investor Syndicate At Hundreds of Billions And Growing

Heard on this Street this week: the super-secret Syndicate of MBS Investors discussed previously is gaining momentum.  A confidential source has informed me that some of the largest institutional investors in mortgage-backed securities have now joined the group, bringing the amount … Continue reading

Posted in Countrywide, firing servicers, Investor Syndicate, investors, irresponsible lending, litigation, loan files, MBS, repurchase, servicers | 2 Comments

Class Action Lawsuit Against Goldman Over ABACUS CDO Signals Time Is Right For Investor Lawsuits

The legal news is not good if you are a lender or investment bank who participated in the creation of mortgage-backed securities (“MBS”) and other derivatives over the last few years.  But for investors who lost their shirts through their … Continue reading

Posted in abacus, Countrywide, derivative lawsuits, Goldman Sachs, investors, litigation, MBS, SEC, securities, securities fraud, shareholder lawsuits | 3 Comments

Home Loan Bank Lawsuit May Signal Floodgates Opening For Investor Actions

As reported this week in the Wall Street Journal (article available here, with subscription), the Federal Home Loan Bank of Seattle has filed separate lawsuits against 11 different Wall Street firms, alleging that it was misled about the quality of … Continue reading

Posted in Bear Stearns, Federal Home Loan Banks, investors, irresponsible lending, lawsuits, litigation, mark-to-market accounting, RMBS, securities, securitization, servicers, underwriting practices, Wall St. | 2 Comments