Category Archives: MBIA

Top Five Reasons that MBS Lawsuits Are Just Beginning

Posted on May 5, 2011 by igradman

After a few quiet months in the world of mortgage crisis litigation, we have seen a flurry of activity over the last six weeks that should put to rest speculation that mortgage derivative lawsuits are winding down.  To recap these … Continue reading →

Posted in AIG, allocation of loss, Allstate, Ambac, bailout, banks, BofA, bondholder actions, broader credit crisis, CDOs, CDSs, Complaints, contract rights, Countrywide, Deutsche Bank, discovery, emc, Federal Reserve, Goldman Sachs, incentives, investigations, investors, irresponsible lending, lawsuits, lenders, liabilities, litigation, loss estimates, MBIA, MBS, misrespresentation, monoline actions, mortgage fraud, mortgage insurers, negligence and recklessness, pooling agreements, private label MBS, putbacks, quinn emanuel, rep and warranty, repurchase, SEC, securities, securities fraud, securitization, settlements, sole remedy, statistical sampling, subprime, Uncategorized, waiver of rights to sue, Wall St. | 23 Comments

Pfaelzer Dismissal of Bank of America from Countrywide Suit Throws Investors for a Loop

Posted on April 27, 2011 by igradman

Is Bank of America on the hook for Countrywide’s liabilities for defective loans?  Depends on which judge you ask. With the recent decision by Judge Mariana Pfaelzer to dismiss BofA as a defendant in the case of Maine State Retirement … Continue reading →

Posted in acquisitions, allocation of loss, appeals, balance sheets, banks, BofA, Countrywide, investors, jurisdiction, lawsuits, lenders, liabilities, liquidity, litigation, MBIA, merger, monoline actions, motions to dismiss, private label MBS, responsibility, securities fraud, subprime, successor liability, vicarious liability | Tagged , , , , , | 6 Comments

MBIA Sampling Order Signals Shorter Path to RMBS Putbacks

Posted on December 30, 2010 by Isaac Gradman

The news gets worse for Bank of America.  Not only will it have to eat massive numbers of Countrywide-originated loans, but the bank may have to complete repurchases sooner than previously thought.  Judge Eileen Bransten’s long-awaited evidentiary ruling in the … Continue reading →

Posted in Allstate, BofA, bondholder actions, Countrywide, due diligence firms, investors, litigation costs, MBIA, monoline actions, quinn emanuel, rep and warranty, repurchase, RMBS, statistical sampling | 5 Comments

Loan File Issue Brought to Forefront By FHFA Subpoena

Posted on July 14, 2010 by Isaac Gradman

The battle being waged by bondholders over access to the loan files underlying their investments was brought into the national spotlight earlier this week, when the Federal Housing Finance Agency (FHFA), the regulator in charge of overseeing Fannie Mae and … Continue reading →

Posted in Alt-A, Countrywide, Fannie Mae, FHFA, Freddie Mac, Investor Syndicate, irresponsible lending, loan files, MBIA, private label MBS, repurchase, reserve reporting, subpoenas, subprime, Wall St. | 1 Comment

Say It Ain’t So: SEC Charges "Shoeless" Goldman Sachs With Setting Up CDO To Fail

Posted on April 16, 2010 by Isaac Gradman

In a move that represents a significant and unexpected expansion in U.S. regulators’ efforts to crack down on Wall Street, the Securities and Exchange Commission (“SEC”) has charged Goldman Sachs, Wall Street’s most powerful bank, with fraud over its marketing … Continue reading →

Posted in AIG, CDOs, Goldman Sachs, investors, lenders, MBIA, mortgage insurers, Paulson and Co., regulation, SEC, securities, securities fraud, Wall St. | Leave a comment