Category Archives: settlements

Objectors’ Siren Song Enchants During Article 77 Proceeding

We are 20 days into the monumental bench trial over Bank of America’s proposed $8.5 billion settlement of Countrywide MBS claims, and with the proceedings now taking a break until September 9, we have a chance to sit back and … Continue reading

Posted in AIG, Bank of New York, bench trials, BofA, bondholder actions, conflicts of interest, contract rights, Countrywide, damages, discovery, Federal Home Loan Banks, fiduciary duties, global settlement, incentives, investors, Judge Barbara Kapnick, Kathy Patrick, lawsuits, liabilities, litigation, loan files, MBS, pooling agreements, private label MBS, putbacks, re-underwriting, rep and warranty, RMBS, securities, settlements, successor liability, Trustees, waiver of rights to sue | 3 Comments

Upcoming Presentation: Trends in MBS Litigation

I am pleased to announce that I will be speaking in and presenting at an upcoming Strafford live phone/web seminar, “Mortgage-Backed Securities Litigation: Latest Developments” scheduled for tomorrow, Thursday, November 15, 1:00pm-2:30pm EST. This will be largely geared towards attorneys … Continue reading

Posted in bondholder actions, broader credit crisis, class actions, Complaints, conflicts of interest, contract rights, costs of the crisis, counterparty risk, damages, derivative lawsuits, discovery, education, fraud, gatekeeper litigation, global catastrophe defense, global settlement, impact of the crisis, investors, irresponsible lending, Judicial Opinions, jury trials, lawsuits, liabilities, litigation, loss causation, MBS, misrespresentation, monoline actions, pooling agreements, Presentations, private label MBS, putbacks, rep and warranty, repurchase, research, responsibility, RMBS, securities, securities laws, securitization, sellers and sponsors, settlements, standing, statistical sampling, statutes of limitations, summary judgment, The Subprime Shakeout, Trustees, underwriting practices | 1 Comment

Investor End Games: All Is Not Well in the Garden

“As long as the roots are not severed, all is well.  And all will be well in the garden.” – Chance the Gardener, Being There (1979) With Judge Barbara Kapnick announcing earlier this month that the approval hearing in Bank … Continue reading

Posted in AIG, allocation of loss, ASF, Attorneys General, Bank of New York, banks, BlackRock, Bloomberg, BofA, bondholder actions, causes of the crisis, conflicts of interest, consitutionality, contract rights, costs of the crisis, Countrywide, damages, Deutsche Bank, discovery, eminent domain, fiduciary duties, foreclosure crisis, fraud, global settlement, Grais and Ellsworth, impact of the crisis, incentives, investors, irresponsible lending, Judge Barbara Kapnick, Judge Eileen Bransten, junior liens, Kathy Patrick, lawsuits, lenders, lending guidelines, liabilities, LIBOR manipulation, liquidity, litigation, litigation costs, lobbying, MBIA, MBS, misrespresentation, monoline actions, monolines, mortgage fraud, mortgage insurers, mortgage market, negative equity, Neil Barofsky, private label MBS, procedural hurdles, putbacks, recession, rep and warranty, repurchase, Residential Capital, responsibility, restructuring, RMBS, securities, securitization, sellers and sponsors, settlements, standing, statistical sampling, statutes of limitations, successor liability, summary judgment, The Subprime Shakeout, too big to fail, toxic assets, Treasury, Trustees, underwriting guidelines, underwriting practices, US Bank, vicarious liability, waiver of rights to sue, Wall St., Walnut Place, Way Too Big to Fail, Wells Fargo, William Frey | 2 Comments

Monoline End Games: String of Legal Wins Will Snowball Until Settlement

Last week, I wrote about a few developments that should boost RMBS litigation recoveries, especially for bond insurers – Judge Crotty’s summary judgment decision in Syncora v. EMC (JPMorgan) and Syncora’s subsequent settlement with BofA, resolving all of the parties’ … Continue reading

Posted in allocation of loss, banks, BofA, contract rights, Countrywide, damages, emc, fraud, global settlement, irresponsible lending, JPMorgan, Judge Eileen Bransten, Judge Paul Crotty, Judicial Opinions, junior liens, jury trials, lawsuits, lenders, liabilities, litigation, litigation costs, loss causation, loss estimates, MBIA, MBS, misrespresentation, monoline actions, monolines, mortgage insurers, O'Melveny & Myers, private label MBS, putbacks, rep and warranty, repurchase, RMBS, securitization, settlements, successor liability, summary judgment | 6 Comments

Federal Judge Refuses to Narrow Mortgage Putback Claims, Paving Way for Lender Repurchase Liability

It has been just over a month since I published my series on the Top 5 RMBS Cases to Watch this Summer.  In case you missed it, here’s a quick recap of my top five cases: No. 5 – Syncora … Continue reading

Posted in allocation of loss, Ambac, Bank of New York, banks, bondholder actions, contract rights, costs of the crisis, Countrywide, damages, emc, global catastrophe defense, incentives, Investor Syndicate, investors, Judge Eileen Bransten, Judge Paul Crotty, Judicial Opinions, lawsuits, lenders, liabilities, litigation, loss causation, loss estimates, MBIA, MBS, monoline actions, monolines, pooling agreements, private label MBS, public perceptions, putbacks, rep and warranty, repurchase, rescission, responsibility, RMBS, securitization, settlements, statutes of limitations, subprime, summary judgment, underwriting guidelines, underwriting practices | Tagged | 4 Comments