Category Archives: sellers and sponsors

Federal Judge in Goldman Sachs MBS Suit Grants Class Action Status to All Bondholders in Trust

Posted on February 6, 2012 by igradman

This just in: the Hon. Harold Baer, Jr. of the Southern District of New York has certified a class of bondholders in Goldman Sachs MBS Trust 2006-S2 led by the Mississippi Public Employees Retirement Fund.  Included in the class are … Continue reading →

Posted in bondholder actions, class actions, Goldman Sachs, investors, irresponsible lending, Judge Harold Baer, Judicial Opinions, lawsuits, lending guidelines, litigation, MBS, private label MBS, Residential Capital, RMBS, securities, securities laws, securitization, sellers and sponsors, sophistication, standing, underwriting guidelines, underwriting practices, Wall St. | Leave a comment

$8.5 Billion BofA Settlement of Countrywide Trusts Raises Questions for Investors on Sidelines

Posted on June 29, 2011 by igradman

As more details emerge about Bank of America’s proposed $8.5 billion settlement with Kathy Patrick’s bondholder group and Bank of New York Mellon (“BoNY”) as Trustee, the deal looks even worse for Countrywide RMBS investors.  Now, it is apparent that … Continue reading →

Posted in allocation of loss, Bank of New York, banks, BlackRock, BofA, bondholder actions, chain of title, conflicts of interest, contract rights, Countrywide, damages, Federal Home Loan Banks, Federal Reserve, fiduciary duties, Freddie Mac, global settlement, Goldman Sachs, improper documentation, incentives, investors, irresponsible lending, Kathy Patrick, lawsuits, lenders, lending guidelines, liabilities, litigation, litigation costs, loss causation, loss estimates, MBS, MetLife, PIMCO, pooling agreements, private label MBS, procedural hurdles, putbacks, re-underwriting, rep and warranty, repurchase, responsibility, RMBS, securities, securitization, sellers and sponsors, settlements, standing, subprime, successor liability, The Subprime Shakeout, TIAA-CREF, Trustees, underwriting practices, valuation, waiver of rights to sue, William Frey | 17 Comments

Center For Responsible Lending Publishes Report Linking Failures of WaMu and IndyMac to Poor OTS Oversight

Posted on April 17, 2009 by Isaac Gradman

The Center for Responsible Lending (CRL), a non-profit, non-partisan research and policy organization, has released a report that begins to shed some light on the role that lax regulation played in the mortgage meltdown of the last year and a … Continue reading →

Posted in causes of the crisis, Center for Responsible Lending, Greenwich Financial Services, incentives, IndyMac, irresponsible lending, OTS, oversight, Russian MBS, sellers and sponsors, WaMu, William Frey | 1 Comment