Category Archives: re-underwriting

FDIC Sues LPS and CoreLogic Over Appraisal Fraud; Shows Investors Leaving Money on the Table

In another sign that the Federal Government is turning its focus towards prosecuting the securitization players who may have contributed to the Mortgage Crisis, the FDIC filed separate lawsuits against LSI Appraisal (available here) and CoreLogic (available here) earlier this … Continue reading

Posted in allocation of loss, appraisals, causes of the crisis, Complaints, conflicts of interest, CoreLogic, FDIC, Federal Home Loan Banks, fiduciary duties, irresponsible lending, lawsuits, liabilities, loan files, loss causation, LPS, private label MBS, re-underwriting, rep and warranty, RMBS, statistical sampling, subprime, successor liability, underwriting practices, valuation, WaMu | Tagged , , , , | 2 Comments

Geithner Plan’s Use of Wall Street Firms to Value "Toxic" Securities No Panacea


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Several commentators have recently praised Treasury Secretary Tim Geithner’s plan to use Wall Street firms to help value “toxic” assets, such as mortgage-backed securities (MBS) and collateralized debt obligations (CDOs), because it draws on these firms’ supposed expertise in valuing … Continue reading

Posted in Countrywide, due diligence firms, hedge funds, legislation, loan modifications, re-underwriting, Richard Posner, Servicer Safe Harbor, Timothy Geithner, toxic assets, valuation, Wall St. | Leave a comment