Category Archives: servicer defaults

New York AG Schneiderman Comes out Swinging at BofA, BoNY


Warning: Illegal string offset 'wordbooker_share_button_post' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1784

Warning: Illegal string offset 'wordbooker_share_button_page' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1785

Warning: Illegal string offset 'wordbooker_like_button_post' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1937

Warning: Illegal string offset 'wordbooker_like_button_page' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1938

Warning: Illegal string offset 'wordbooker_like_button_post' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1856

Warning: Illegal string offset 'wordbooker_like_button_page' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1857

Warning: Illegal string offset 'wordbooker_share_button_post' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1784

Warning: Illegal string offset 'wordbooker_share_button_page' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1785

Warning: Illegal string offset 'wordbooker_like_button_post' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1937

Warning: Illegal string offset 'wordbooker_like_button_page' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1938

Warning: Illegal string offset 'wordbooker_like_button_post' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1856

Warning: Illegal string offset 'wordbooker_like_button_page' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1857

This is big.  Though we’ve seen leading indicators over the last few weeks that New York Attorney General Eric Schneiderman might get involved in the proposed Bank of America settlement over Countrywide bonds, few expected a response that might dynamite … Continue reading

Posted in Attorneys General, bad faith, Bank of New York, banks, BofA, chain of title, conflicts of interest, contract rights, Countrywide, discovery, fiduciary duties, global settlement, improper documentation, investigations, investors, litigation, loan files, LPS, MBS, mortgage fraud, private label MBS, RMBS, robo-signers, servicer defaults, servicers, settlements, standing, successor liability, Trustees, Uncategorized, underwriting practices, Wall St. | 11 Comments

Creditor Rights: Use Them All!

by Steve Ruterman, guest blogger Much of the focus of mortgage crisis-related litigation and news coverage has been directed at put-back rights as a potential source of loss mitigation for mortgage creditors, including investors and bond insurers.  However, far less … Continue reading

Posted in auditing, banks, bondholder actions, chain of title, contract rights, due diligence firms, Event of Default, firing servicers, freeriders, guest posts, improper documentation, incentives, investors, irresponsible lending, lenders, lending guidelines, loan files, MBIA, MBS, negligence and recklessness, pooling agreements, private label MBS, putbacks, re-underwriting, rep and warranty, RMBS, robo-signers, securitization, servicer defaults, servicers, standing, The Subprime Shakeout, Trustees, underwriting practices | Tagged , , , | Leave a comment

PIMCO, BlackRock, New York Fed To Demand That BofA Repuchase Faulty Non-Agency Mortgages


Warning: Illegal string offset 'wordbooker_share_button_post' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1784

Warning: Illegal string offset 'wordbooker_share_button_page' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1785

Warning: Illegal string offset 'wordbooker_like_button_post' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1937

Warning: Illegal string offset 'wordbooker_like_button_page' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1938

Warning: Illegal string offset 'wordbooker_like_button_post' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1856

Warning: Illegal string offset 'wordbooker_like_button_page' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1857

Warning: Illegal string offset 'wordbooker_share_button_post' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1784

Warning: Illegal string offset 'wordbooker_share_button_page' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1785

Warning: Illegal string offset 'wordbooker_like_button_post' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1937

Warning: Illegal string offset 'wordbooker_like_button_page' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1938

Warning: Illegal string offset 'wordbooker_like_button_post' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1856

Warning: Illegal string offset 'wordbooker_like_button_page' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1857

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

Posted in Bank of New York, BlackRock, BofA, demand letter, Event of Default, Investor Syndicate, Kathy Patrick, PIMCO, procedural hurdles, rep and warranty, repurchase, RMBS, servicer defaults, Trustees | 7 Comments

Investor Syndicate Fires Warning Shot Across Trustee Bows


Warning: Illegal string offset 'wordbooker_share_button_post' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1784

Warning: Illegal string offset 'wordbooker_share_button_page' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1785

Warning: Illegal string offset 'wordbooker_like_button_post' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1937

Warning: Illegal string offset 'wordbooker_like_button_page' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1938

Warning: Illegal string offset 'wordbooker_like_button_post' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1856

Warning: Illegal string offset 'wordbooker_like_button_page' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1857

Warning: Illegal string offset 'wordbooker_share_button_post' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1784

Warning: Illegal string offset 'wordbooker_share_button_page' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1785

Warning: Illegal string offset 'wordbooker_like_button_post' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1937

Warning: Illegal string offset 'wordbooker_like_button_page' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1938

Warning: Illegal string offset 'wordbooker_like_button_post' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1856

Warning: Illegal string offset 'wordbooker_like_button_page' in /nfs/c07/h01/mnt/112606/domains/subprimeshakeout.com/html/wp-content/plugins/wordbooker/wordbooker.php on line 1857

As first reported by Reuters on Wednesday, and as further detailed by Bloomberg today, the Investor Syndicate has finally begun to emerge from the shadows and give securitization trustees a hint at what’s coming.  According to Talcott Franklin, the Dallas … Continue reading

Posted in fiduciary duties, firing servicers, Investor Syndicate, irresponsible lending, private label MBS, repurchase, reserve reporting, securitization, servicer defaults, Servicer Safe Harbor, Trustees | 13 Comments