Category Archives: pre-investment due diligence
Cracks in Commercial Real Estate Market Usher in All-Too-Familiar CMBS Putback Litigation and Risk of Broader Distress
It has been said that history repeats itself. This is perhaps not quite correct; it merely rhymes. – Theodor Reik, 1965, Curiosities of the Self: Illusions We Have about Ourselves I am reminded frequently of the above quote when I … Continue reading
Posted in allocation of loss, banks, bondholder actions, bondholders, borrower fraud, broader credit crisis, Certificateholders, Chetrit, CMBS, contract rights, CRE, Deloitte and Touche, Fannie Mae, fraud, Freddie Mac, interest rates, investors, JPMorgan, lawsuits, liabilities, litigation, MBS, misrespresentation, mortgage fraud, mortgage market, pre-investment due diligence, putbacks, re-underwriting, rep and warranty, repurchase, responsibility, securities, securitization, sellers and sponsors, servicers, statutes of limitations, The Subprime Shakeout, underwriting practices
Tagged CMBS, CRE, market distress, putback litigation
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Guest Post: The Migratory Patterns of Yield-Hungry Investors
Editor’s Note: in this guest post, former bond insurance insider Steve Ruterman discusses important considerations for investing in private label MBS beyond credit risk analysis, including how investors can benefit from understanding the differences in servicer behavior and business models. … Continue reading
Posted in Attorneys General, bondholder actions, conflicts of interest, firing servicers, foreclosure rate, guest posts, hedge funds, incentives, investors, junior liens, loan modifications, loan seasoning, MBIA, MBS, moral hazard, mortgage market, pre-investment due diligence, private label MBS, projecting risk adjusted returns, putbacks, regulation, Regulators, servicer defaults, servicer reports, servicers, subprime
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