Category Archives: Investor Syndicate

Motion to Exclude Frey Testimony from Article 77 Raises Eyebrows, Questions About Role of BlackRock and PIMCO

Posted on September 24, 2013 by igradman

The backyard brawl between the AIG-led objecting investors on one hand and Bank of New York Mellon (BNYM) and the investors supporting BofA’s $8.5 billion settlement on the other is about to get even messier.  As I last wrote on … Continue reading →

Posted in AIG, allocation of loss, appeals, Bank of New York, banks, bench trials, BlackRock, BofA, bondholder actions, conflicts of interest, contract rights, Countrywide, demand letter, Event of Default, Fannie Mae, FHFA, fiduciary duties, global settlement, incentives, Investor Syndicate, investors, Judge Barbara Kapnick, Judge William Pauley, Judicial Opinions, Kathy Patrick, lawsuits, liabilities, litigation, MBS, negligence and recklessness, PIMCO, private label MBS, putbacks, remand, rep and warranty, repurchase, responsibility, RMBS, servicers, Trustees, William Frey | Leave a comment

BREAKING NEWS: Article 77 Hearing Postponed, Bill Frey Subpoenaed by AIG

Posted on May 29, 2013 by igradman

I wanted to publish a quick update to yesterday’s article breaking down the challenges BofA will face to its $8.5 billion mortgage rep and warranty settlement.  Sources have informed me that the May 30 Merits Hearing for this settlement proceeding … Continue reading →

Posted in appeals, BofA, Event of Default, global settlement, Investor Syndicate, Judge Barbara Kapnick, jury trials, Kathy Patrick, specificity, William Frey | Leave a comment

The Bell Tolls for BofA

Posted on May 28, 2013 by igradman

Memorial Day Weekend is always cause for some reflection, but as we draw closer to the May 30, 2013 merits hearing on Bank of America’s (BofA) proposed $8.5 billion settlement of Countrywide mortgage liabilities, this last one seemed particularly appropriate … Continue reading →

Posted in Adam Levitin, AIG, allocation of loss, Alt-A, appeals, Attorneys General, bad faith, Bank of New York, banks, BofA, bondholder actions, conflicts of interest, contract rights, Countrywide, damages, Federal Home Loan Banks, Flagstar, global catastrophe defense, global settlement, incentives, Investor Syndicate, investors, irresponsible lending, Judge Barbara Kapnick, Judge Eileen Bransten, Judge Jed Rakoff, Judge Paul Crotty, Judge William Pauley, Judicial Opinions, Kathy Patrick, lawsuits, liabilities, litigation, loan files, loss causation, MBIA, MBS, monoline actions, O'Melveny & Myers, private label MBS, procedural hurdles, putbacks, rep and warranty, repurchase, RMBS, securitization, sellers and sponsors, sole remedy, standing, statistical sampling, successor liability, summary judgment, Trustees, vicarious liability | 3 Comments

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

Posted on July 27, 2012 by igradman

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

BlackRock Attorney to Face Stiffer Challenges to Next Set of MBS Settlements

Posted on January 31, 2012 by igradman

(Updated version, including new 6th paragraph on subsequent announcement of larger probe into Morgan Stanley bonds) Having received copious kudos for engineering an $8.5 billion investor settlement with Bank of America over soured Countrywide residential mortgage backed securities (RMBS), “pitbull” … Continue reading →

Posted in Allstate, appeals, Attorneys General, Bank of New York, banks, BlackRock, BofA, bondholder actions, conflicts of interest, contract rights, Countrywide, emc, Event of Default, Federal Home Loan Banks, FHFA, global settlement, hedge funds, Investor Syndicate, investors, JPMorgan, jurisdiction, Kathy Patrick, lawsuits, lenders, liabilities, litigation, MBIA, MBS, Morgan Stanley, Philippe Selendy, press, private label MBS, putbacks, quinn emanuel, Regulators, remand, removability, rep and warranty, repurchase, RMBS, securities, securitization, settlements, standing, toxic assets, Wall St., Wells Fargo | 7 Comments