Category Archives: lenders

Obama Proposes Sweeping Reforms For Financial Regulation

Posted on June 19, 2009 by Isaac Gradman

Just last weekend, in discussing the current financial crisis with friends, I expressed concerns that in the panic to unfreeze the credit markets and stabilize the economy, our government would continue to simply throw money at the problem, while ignoring … Continue reading →

Posted in Barack Obama, Center for Responsible Lending, Federal Reserve, Government bailout, incentives, legislation, lenders, oversight, recession, regulation, TARP, Timothy Geithner, underwriting practices | Leave a comment

Countrywide Complaint Against A.I.G. Subsidiary United Guaranty Now Available

Posted on March 24, 2009 by Isaac Gradman

Earlier this week, I posted the complaint filed by A.I.G. subsidiary United Guaranty Mortgage Indemnity Co. (UG) in federal court in Los Angeles. The Subprime Shakeout has now obtained the complaint that started this battle of mortgage industry titans, filed … Continue reading →

Posted in AIG, bad faith, causes of the crisis, Complaints, Countrywide, lawsuits, lenders, lending guidelines, loss causation, mortgage insurers, removability, sophistication, subprime, underwriting practices | Leave a comment

A.I.G. and Countrywide Go Head-to-Head Over Mortgage Insurance Coverage

Posted on March 23, 2009 by Isaac Gradman

The battle of the titans has begun. As reported by Reuters on Friday, both A.I.G. and Countrywide have now sued one another over who will bear the losses on a $1 billion pool of subprime mortgage loans. Countrywide fired the … Continue reading →

Posted in AIG, allocation of loss, causes of the crisis, Countrywide, lawsuits, lenders, litigation, loss causation, misrespresentation, mortgage insurers, underwriting practices, United Guaranty | 1 Comment

Greenwich CEO William Frey Primed to Become the Lorax For Investors Without a Voice?

Posted on February 11, 2009 by Isaac Gradman

One of the most interesting stories we’ve been following in the world of mortgage crisis litigation has been the lawsuit filed by Greenwich Financial Services CEO William Frey against Countrywide Financial Corp., Countrywide Home Loans, Inc. and Countrywide Home Loans … Continue reading →

Posted in Attorneys General, BofA, causes of the crisis, Countrywide, Greenwich Financial Services, lenders, loan modifications, repurchase, William Frey | 4 Comments

Greenwich v. Countrywide Complaint Now Available

Posted on December 3, 2008 by Isaac Gradman

Here is the Complaint brought by Grais & Ellsworth on behalf of hedge fund Greenwich Financial Services against Countrywide Financial Corp., Countrywide Home Loans, Inc. and Countrywide Home Loans Servicing LP (all now part of Bank of America) in the … Continue reading →

Posted in Attorneys General, BofA, Complaints, Countrywide, Greenwich Financial Services, lawsuits, lenders, litigation, loan modifications, repurchase, settlements, William Frey, workouts | Leave a comment