Category Archives: rep and warranty

Mortgage Mess Causes Bank Stocks To Plummet

Posted on October 15, 2010 by Isaac Gradman

Bank stocks have taken a sharp hit this week as awareness regarding potential liabilities for faulty mortgages and foreclosures reaches critical mass. You can’t turn on the TV or open a newspaper these days without seeing reports on the recent … Continue reading →

Posted in BofA, branch hill capital, foreclosure crisis, foreclosure moratorium, improper documentation, JPMorgan, liabilities, loss estimates, rep and warranty, repurchase, robo-signers, true sale | 4 Comments

Strange Bedfellows: Barney Frank’s Falling Out With Wall Street Leaves Him Aligned With Former Nemesis

Posted on October 8, 2010 by Isaac Gradman

I have seen some strange things during my time covering the mortgage crisis, but this one may beat them all. On August 20, 2010, representative Barney Frank (D-MA) sent a letter to Barack Obama, urging the President to appoint a … Continue reading →

Posted in Barack Obama, Barney Frank (D-MA), BofA, campaign finance, FHFA, Greenwich Financial Services, Investor Syndicate, Paul Kanjorski, rep and warranty, repurchase, servicers, William Frey | 2 Comments

Inside Mortgage Finance Sees Private Label Rep and Warranty Claims Increasing

Posted on September 7, 2010 by Isaac Gradman

The following story appeared in the September 3, 2010 issue of Inside Nonconforming Markets, a biweekly newsletter focusing on news and data on non-agency mortgages.  This story reflects the growing awareness in the marketplace of the undisclosed mortgage repurchase liabilities … Continue reading →

Posted in Federal Home Loan Banks, FHFA, judicial momentum, liabilities, loan files, private label MBS, rep and warranty, repurchase | 1 Comment

Recording Of Compass Point Mortgage Repurchase Call Available

Posted on August 31, 2010 by Isaac Gradman

We had a great turnout for the Compass Point call today on mortgage repurchase liability and I thought the questions and remarks of the various participants were interesting and informative.  For those of you who missed the call, you can … Continue reading →

Posted in Compass Point, irresponsible lending, liabilities, litigation, public perceptions, rep and warranty, repurchase, reserve reporting | 3 Comments

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