Category Archives: securitization

Hedge Fund Greenwich Financial Files Lawsuit Against Countrywide (BofA) Over Loan Modifications

Posted on December 2, 2008 by Isaac Gradman

As anticipated and previously discussed (see last week’s post), a hedge fund has indeed sued Countrywide Financial Corporation (now a part of Bank of America) over loan modifications Countrywide agreed to make under the terms of a settlement reached with … Continue reading →

Posted in Attorneys General, BofA, Complaints, Countrywide, Greenwich Financial Services, hedge funds, investors, lawsuits, loan modifications, repurchase, securitization, subprime, underwriting practices | Leave a comment

AMBAC Sues Bear Stearns Subsidiary For Shoddy Underwriting

Posted on November 17, 2008 by Isaac Gradman

Mortgage insurance company Ambac Assurance Corp. has become the latest plaintiff to bring a lawsuit against a mortgage originator for improper underwriting, suing Bear Stearns subsidiary EMC Mortgage Corp. in the United States District Court for the Southern District of … Continue reading →

Posted in Ambac, Bear Stearns, broader credit crisis, Complaints, lawsuits, litigation, misrespresentation, mortgage fraud, mortgage insurers, securitization, underwriting practices | Leave a comment

Focus of New Regulation Should Be On Securitization

Posted on November 11, 2008 by Isaac Gradman

The election of Barack Obama as the presumptive 44th President of the United States promises to usher in an era of increased regulation of the financial markets pursuant to Obama’s platform of economic reform. So far, many commentaries on the … Continue reading →

Posted in accounting, Alt-A, banks, Barack Obama, broader credit crisis, causes of the crisis, lenders, mortgage market, regulation, securities, securitization, subprime | Leave a comment

Potential Jurors Unfriendly to Mortgage Lenders?

Posted on October 18, 2008 by Isaac Gradman

As reported by Peter Page in the National Law Journal (subscription required), a survey completed earlier this month of adults eligible for jury service found that potential jurors overwhelmingly held plaintiff-oriented perceptions with respect to suits against mortgage lenders. “Nearly … Continue reading →

Posted in causes of the crisis, Howard Rice, jury trials, lenders, litigation, mortgage insurers, predatory lending, public perceptions, securitization, subprime, underwriting practices | Leave a comment

Wikipedia Subprime Timeline a Comprehensive (and Opinionated) Resource

Posted on October 15, 2008 by Isaac Gradman

I just discovered the Wikipedia Subprime Crisis Impact Timeline that provides a great resource to those trying to understand what this crisis is and how we got here. The timeline spans 40 years from 1968 to the present, including the … Continue reading →

Posted in bailout, banks, Ben Bernanke, causes of the crisis, Fannie Mae, Federal Reserve, Freddie Mac, Hank Paulson, legislation, regulation, securitization, subprime, takeover, timeline, Treasury, Wikipedia | Leave a comment