Category Archives: loan files

Wells Fargo Sues EMC as Trustees Start Playing Ball with RMBS Investors; Servicers Still Holding Out

Posted on January 21, 2011 by Isaac Gradman

Will we look back at this point in the mortgage crisis fallout as the turning point for RMBS investors?  With the news that Wells Fargo, as securitization trustee, has sued EMC Mortgage in Delaware Chancery Court over loan files, trustee … Continue reading →

Posted in Bear Stearns, Deutsche Bank, emc, FDIC, Investor Syndicate, loan files, private label MBS, procedural hurdles, putbacks, rep and warranty, repurchase, Trustees, WaMu, Wells Fargo | 3 Comments

Federal Home Loan Bank of Pittsburgh Scores Important Early Victory in Pennsylvania Lawsuit

Posted on December 7, 2010 by Isaac Gradman

In the first substantive decision handed down in any of the five major lawsuits by the Federal Home Loan Banks (FHLB) over RMBS losses, the Hon. Stanton Wettick, Jr. of the Court of Common Pleas of Allegheny County, Pennsylvania dealt … Continue reading →

Posted in Countrywide, Federal Home Loan Banks, investors, JPMorgan, lawsuits, loan files, misrespresentation, ratings agencies, remand, removability, rep and warranty, repurchase, sole remedy, toxic assets | 8 Comments

Barron’s Article Pulls No Punches in Assessing Bank Putback Liability

Posted on November 22, 2010 by Isaac Gradman

If you’re looking for a great primer on the latest developments in the legal saga over who will ultimately bear the losses for the detritus that passed as subprime and Alt-A mortgage loans from 2004 to 2007, check out this … Continue reading →

Posted in allocation of loss, Barron's, Clayton Holdings, Lehman Brothers, loan files, private label MBS, rep and warranty, repurchase, responsibility, stated income, too big to fail, underwriting practices | 2 Comments

Inside Mortgage Finance Sees Private Label Rep and Warranty Claims Increasing

Posted on September 7, 2010 by Isaac Gradman

The following story appeared in the September 3, 2010 issue of Inside Nonconforming Markets, a biweekly newsletter focusing on news and data on non-agency mortgages.  This story reflects the growing awareness in the marketplace of the undisclosed mortgage repurchase liabilities … Continue reading →

Posted in Federal Home Loan Banks, FHFA, judicial momentum, liabilities, loan files, private label MBS, rep and warranty, repurchase | 1 Comment

Compass Point To Hold Call Addressing Mortgage Repurchase Risks

Posted on August 26, 2010 by Isaac Gradman

Compass Point Research & Trading, a registered broker/dealer and one of the leading financial research firms investigating Alt-A and subprime mortgage backed securities (MBS), will be hosting a conference call to discuss mortgage repurchase risks.  The call will be held … Continue reading →

Posted in BofA, Compass Point, Federal Home Loan Banks, Federal Reserve, FHFA, JPMorgan, liabilities, loan files, loss estimates, private label MBS, repurchase, research, reserve reporting | 4 Comments