Category Archives: misrespresentation

The Top 5 RMBS Cases to Watch this Summer: No. 1 – MBIA v. Countrywide, BofA

Posted on June 15, 2012 by igradman

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 | 4 Comments

MBS Discovery Battles Heating Up, Impacting Litigation Timelines and Leverage

Posted on March 28, 2012 by igradman

If litigation is war, then discovery is the hand-to-hand combat that takes place in the trenches, costing plenty and potentially having a major impact on the outcome of the war in the aggregate.  With most of the major MBS litigation … Continue reading →

Posted in Attorneys General, bad faith, Bank of New York, banks, BofA, bondholder actions, conflicts of interest, contract rights, Countrywide, discovery, fraud, global settlement, improper documentation, investors, lawsuits, liabilities, litigation, MBIA, MBS, misrespresentation, monoline actions, monolines, mortgage fraud, private label MBS, putbacks, remand, rep and warranty, repurchase, RMBS, securities, securitization, settlements, subprime, successor liability, Trustees | 8 Comments

My Take On Newly Filed AG Foreclosure Settlement: As Bad As We Thought It Was

Posted on March 12, 2012 by igradman

“They are who we THOUGHT they were — and we let ’em off the hook!” This famous postgame rant from former Arizona Cardinals coach Denny Green after his team’s epic meltdown on Monday Night Football against the Bears could just … Continue reading →

Posted in allocation of loss, Ally Bank, Attorneys General, bailout, bankruptcy, banks, Bloomberg, BofA, broader credit crisis, chain of title, Citigroup, Complaints, contract rights, costs of the crisis, damages, foreclosure crisis, global settlement, Government bailout, homeowner relief, Hope For Homeowners, impact of the crisis, improper documentation, incentives, interest rates, investigations, investors, JPMorgan, Judge Jed Rakoff, judicial momentum, junior liens, lawsuits, liabilities, litigation, loan modifications, loss causation, LTV, MBS, misrespresentation, mortgage fraud, negative equity, oversight, Regulators, Residential Capital, RMBS, robo-signers, SEC, securities, securitization, servicer defaults, servicers, settlements, stipulated judgments, waiver of rights to sue | 7 Comments

MBIA Celebrates Bransten Decision on Loss Causation; Bondholders Still Looking for Guidance

Posted on January 9, 2012 by igradman

As loyal readers will recall, I laid it on the line a few weeks back and predicted that MBIA would win its loss causation argument against Countrywide/BofA, making the nation’s largest bank wish it had settled this bellwether piece of … Continue reading →

Posted in appeals, banks, BofA, bondholder actions, broader credit crisis, causes of the crisis, contract rights, damages, investors, Judge Jed Rakoff, Judicial Opinions, lawsuits, liabilities, litigation, loss causation, MBIA, MBS, misrespresentation, monoline actions, monolines, pooling agreements, private label MBS, putbacks, rep and warranty, repurchase, rescission, RMBS, securitization, statistical sampling, The Subprime Shakeout | 5 Comments

Federal Home Loan Bank Litigation Update: MBS Cases Moving Slowly, But Steadily, Ahead for FHLBs

Posted on December 22, 2011 by iautry

By Isaac Gradman and India Autry The Federal Home Loan Bank (FHLB) litigation against MBS underwriters, some of the first to arise out of the sale of toxic mortgage backed securities post-crisis, is progressing slowly but surely towards trial, without … Continue reading →

Posted in banks, Blue Sky laws, choice of law, discovery, Federal Home Loan Banks, investors, lawsuits, litigation, loan files, LTV, MBS, misrespresentation, motions to dismiss, ratings agencies, remand, removability, securities fraud, securities laws, securitization, sophistication, subprime, underwriting guidelines, underwriting practices | 8 Comments