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Category Archives: MBIA
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
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4 Comments
The Top 5 RMBS Cases to Watch this Summer: No. 2 – In re the Application of Bank of New York Mellon
This is the fourth installment in my countdown of the Top 5 RMBS Cases to Watch this Summer. Click on the following links to read parts I, II, and III. Today, we address a case that is anything but typical, … Continue reading →
Posted in accounting, allocation of loss, Attorneys General, Bank of New York, banks, BofA, bondholder actions, conflicts of interest, contract rights, damages, discovery, Freddie Mac, global settlement, improper documentation, investors, Judge Barbara Kapnick, Judge William Pauley, Judicial Opinions, lawsuits, lending guidelines, liabilities, litigation, loan files, loss causation, MBIA, MBS, pooling agreements, private label MBS, putbacks, rep and warranty, repurchase, RMBS, securities, securitization, sellers and sponsors, settlements, timeline, too big to fail, Trustees, underwriting guidelines
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Tagged GSEs, mortgage transfer issues
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10 Comments
The Top 5 RMBS Cases to Watch this Summer: No. 3 – ABN AMRO Bank v. Dinallo (Article 78)
My Top 5 RMBS Cases to Watch series began earlier this week with a look at a long-running lawsuit by bond insurer Syncora against EMC and a novel investor lawsuit against Bank of New York Mellon, as Trustee, both of … Continue reading →
Posted in accounting, Alison Frankel, allocation of loss, appeals, Bank of New York, banks, bench trials, BlackRock, BofA, CDSs, conflicts of interest, contract rights, counterparty risk, Countrywide, Judge Barbara Kapnick, Judge Eileen Bransten, Judicial Opinions, lawsuits, MBIA, MBS, media coverage, monoline actions, monolines, putbacks, Regulators, rep and warranty, repurchase, RMBS, securitization, settlements, Trustees, valuation
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9 Comments
Last Minute Fireworks Provide Preview of MBIA Restructuring Trial, Beginning Today
A last minute hearing before Judge Barbara Kapnick in New York Supreme Court on Tuesday provided drama worthy of prime time television, illustrating the stakes of the trial beginning today between MBIA, the New York Insurance Department (“NYID”), and Bank … Continue reading →
Posted in Attorneys General, banks, bench trials, BofA, Countrywide, Insurance Department, Judge Barbara Kapnick, Judicial Opinions, lawsuits, liabilities, liquidity, litigation, MBIA, monoline actions, monolines, Regulators, restructuring
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Tagged Article 78, BofA, hearing, Kapnick, MBIA, NYID, restructuring, trial
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1 Comment
MBIA on Winning Streak Heading into Trial on Restructuring Challenge
Monoline insurer MBIA, the most influential plaintiff in mortgage crisis litigation, has been on a roll lately in its lawsuits against Bank of America and other institutions over issues stemming from the subprime meltdown. But MBIA will face its stiffest … Continue reading →
Posted in Alison Frankel, allocation of loss, appeals, bailout, Bank of New York, banks, bench trials, BofA, bondholder actions, CDOs, contract rights, costs of the crisis, Countrywide, damages, discovery, global settlement, Government bailout, investors, Judge Barbara Kapnick, Judge Eileen Bransten, Judicial Opinions, lawsuits, liabilities, litigation, loss causation, MBIA, MBS, media coverage, monoline actions, monolines, private label MBS, putbacks, Regulators, rep and warranty, reserve reporting, responsibility, RMBS, settlements, statistical sampling, subprime, successor liability, The Subprime Shakeout, Trustees
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6 Comments