Category Archives: RMBS
Ambac Drops Bombshell Proposed Amended Complaint on JP Morgan, EMC
In a pleading filled with allegations that can only be described as shocking, Ambac has accused Bear Stearns and its former subsidiary EMC Mortgage (both now owned by JP Morgan) of a parade of horribles in its proposed amended complaint … Continue reading
Streaming Audio of Bloomberg Radio’s Hays Advantage Segment Featuring Isaac Gradman Now Available
On October 22, 2010, I appeared Bloomberg Radio’s “The Hays Advantage” with Kathleen Hays to discuss issues facing RMBS investors in litigation against originators and underwriters. A number of readers have asked me if a recording of the interview was … Continue reading
MBIA Sampling Order Signals Shorter Path to RMBS Putbacks
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
PIMCO, BlackRock, New York Fed To Demand That BofA Repuchase Faulty Non-Agency Mortgages
Private label residential mortgage backed securities (RMBS) investors, including BlackRock, PIMCO, and the New York Fed, are expected to join MetLife, Inc. in its efforts to force BofA to repurchase defective subprime and Alt-A mortgage loans originated by Countrywide and … Continue reading
Federal Home Loan Bank of San Francisco Sues Over RMBS Losses As Investor Actions Build Steam
One month ago, with the filing by the Federal Home Loan Bank of Seattle of eleven lawsuits against the major Wall Street creators of residential mortgage-backed securities (RMBS), I speculated that the floodgates of investor litigation may finally be swinging … Continue reading
