Category Archives: MBS

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

Bank of America Fires Off Response to BlackRock and PIMCO Demand Letter, Accuses Lawyer of "Ulterior Agenda"

Posted on November 9, 2010 by Isaac Gradman

In a response that can only be described as indignant, Bank of America fired back on November 4 at the group of investors that demanded that Countrywide/BofA repurchase loans in connection with $47 billion worth of private-label mortgage backed securities.  … Continue reading →

Posted in Attorneys General, BlackRock, BofA, Countrywide, Event of Default, Federal Reserve, Freddie Mac, Kathy Patrick, MBS, PIMCO, procedural hurdles, rep and warranty, repurchase, servicers, specificity | Leave a comment

New York Fed Throws Weight Behind Mortgage Buy Backs

Posted on August 5, 2010 by Isaac Gradman

As reported in Bloomberg, the Federal Bank of New York has announced that it is involved in “multiple efforts” to exercise its rights with respect to its holdings in faulty mortgages an other assets acquired through the bailouts of Bear … Continue reading →

Posted in AIG, Bear Stearns, BlackRock, CDOs, Fannie Mae, Federal Reserve, Freddie Mac, freeriders, global settlement, incentives, Investor Syndicate, loan files, MBS, rep and warranty, repurchase, SEC | 1 Comment

Investor Syndicate At Hundreds of Billions And Growing

Posted on June 16, 2010 by Isaac Gradman

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

Posted on April 29, 2010 by Isaac Gradman

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