Category Archives: investors
Amendment to Restrict Servicer Safe Harbor Rejected By Senate
On Tuesday, the U.S. Senate rejected a measure that would have limited the “Servicer Safe Harbor” provision of the “Helping Families Save Their Homes Act,” which aims to protect servicers from lawsuits over their modifications of residential mortgage loans. The … Continue reading
Pennsylvania Joins Countrywide Settlement, But Where Is the Money Coming From?
Pennsylvania Attorney General Tom Corbett, whose office spent several months investigating deceptive mortgage practices alleged against Countrywide and its affiliates, has announced that Pennsylvania has joined the $8 billion settlement announced in October with Attorneys General from now over thirty … Continue reading
Subprime Shakeout Discussed in Volokh Conspiracy Post On Formation of Aggregator Bank
On January 19, 2009, Eric Posner from the Volokh Conspiracy cited to the Subprime Shakeout in his article entitled “Why should the government buy toxic assets?” The post addressed the idea of an “Aggregator Bank” that would acquire the mortgage-backed … Continue reading
Newest Navigant Study Released: Shows Unprecedented Volume of Credit Crisis Litigation
Navigant Consulting, Inc. (NCI), a global consulting firm that releases quarterly reports on subprime mortgage and related case filings in the federal courts, released their newest study today, and the results are staggering (see MSN Money article here). The report, … Continue reading
Under Countrywide Stipulated Judgment, Investors Must Be Consulted
After reviewing the Complaint filed by hedge fund Greenwich Financial Services against Countrywide and BofA and listening to the comments made last week by Greenwich CEO William Frey and his attorney regarding the case, I decided to take a closer … Continue reading
