Category Archives: private label MBS

Full Text of BlackRock, PIMCO Letter to Bank of New York and Bank of America Available

Posted on October 21, 2010 by Isaac Gradman

Below, please find the full text of the letter sent by Kathy Patrick and the law firm of Gibbs & Bruns to Bank of New York and BofA/Countrywide on behalf of private label mortgage investors, including BlackRock, PIMCO, MetLife, Freddie … Continue reading →

Posted in Bank of New York, BlackRock, BofA, bondholder actions, Countrywide, Federal Reserve, Freddie Mac, Kathy Patrick, loan modifications, MetLife, PIMCO, private label MBS, procedural hurdles | 6 Comments

Inside Mortgage Finance Sees Private Label Rep and Warranty Claims Increasing

Posted on September 7, 2010 by Isaac Gradman

The following story appeared in the September 3, 2010 issue of Inside Nonconforming Markets, a biweekly newsletter focusing on news and data on non-agency mortgages.  This story reflects the growing awareness in the marketplace of the undisclosed mortgage repurchase liabilities … Continue reading →

Posted in Federal Home Loan Banks, FHFA, judicial momentum, liabilities, loan files, private label MBS, rep and warranty, repurchase | 1 Comment

Compass Point To Hold Call Addressing Mortgage Repurchase Risks

Posted on August 26, 2010 by Isaac Gradman

Compass Point Research & Trading, a registered broker/dealer and one of the leading financial research firms investigating Alt-A and subprime mortgage backed securities (MBS), will be hosting a conference call to discuss mortgage repurchase risks.  The call will be held … Continue reading →

Posted in BofA, Compass Point, Federal Home Loan Banks, Federal Reserve, FHFA, JPMorgan, liabilities, loan files, loss estimates, private label MBS, repurchase, research, reserve reporting | 4 Comments

Investor Syndicate Fires Warning Shot Across Trustee Bows

Posted on July 24, 2010 by Isaac Gradman

As first reported by Reuters on Wednesday, and as further detailed by Bloomberg today, the Investor Syndicate has finally begun to emerge from the shadows and give securitization trustees a hint at what’s coming.  According to Talcott Franklin, the Dallas … Continue reading →

Posted in fiduciary duties, firing servicers, Investor Syndicate, irresponsible lending, private label MBS, repurchase, reserve reporting, securitization, servicer defaults, Servicer Safe Harbor, Trustees | 13 Comments

Loan File Issue Brought to Forefront By FHFA Subpoena

Posted on July 14, 2010 by Isaac Gradman

The battle being waged by bondholders over access to the loan files underlying their investments was brought into the national spotlight earlier this week, when the Federal Housing Finance Agency (FHFA), the regulator in charge of overseeing Fannie Mae and … Continue reading →

Posted in Alt-A, Countrywide, Fannie Mae, FHFA, Freddie Mac, Investor Syndicate, irresponsible lending, loan files, MBIA, private label MBS, repurchase, reserve reporting, subpoenas, subprime, Wall St. | 1 Comment