Category Archives: Servicer Safe Harbor

Bondholders Battle Back Over Servicer Safe Harbor

Posted on April 29, 2009 by Isaac Gradman

Back in early March, without much fanfare, the U.S. House of Representatives passed H.R. 1106, entitled the “Helping Families Save Their Homes Act of 2009”, which contained a “Servicer Safe Harbor” provision that would allow servicers to disregard bondholders’ contract … Continue reading →

Posted in BofA, Countrywide, Greenwich Financial Services, Helping Families Save Homes, irresponsible lending, legislation, loan modifications, lobbying, Servicer Safe Harbor, William Frey | 2 Comments

Geithner Plan’s Use of Wall Street Firms to Value "Toxic" Securities No Panacea

Posted on April 3, 2009 by Isaac Gradman

Several commentators have recently praised Treasury Secretary Tim Geithner’s plan to use Wall Street firms to help value “toxic” assets, such as mortgage-backed securities (MBS) and collateralized debt obligations (CDOs), because it draws on these firms’ supposed expertise in valuing … Continue reading →

Posted in Countrywide, due diligence firms, hedge funds, legislation, loan modifications, re-underwriting, Richard Posner, Servicer Safe Harbor, Timothy Geithner, toxic assets, valuation, Wall St. | Leave a comment

Senate to Consider Bill That Threatens to Obliterate Mortgage Bondholders’ Contract Rights

Posted on March 16, 2009 by Isaac Gradman

On March 5, 2009, the U.S. House of Representatives passed H.R. 1106, also known as the “Helping Families Save Their Homes Act of 2009,” which threatens to override the contract rights of bondholders who invested in mortgage-backed securities (MBS). A … Continue reading →

Posted in allocation of loss, bankruptcy, bankruptcy cramdown, Countrywide, Greenwich Financial Services, Helping Families Save Homes, legislation, litigation, loan modifications, Servicer Safe Harbor | 1 Comment