Category Archives: Regulators

Mortgage Lit Roundup: Five Signs That Plaintiffs Are Winning the RMBS War

A lot can happen in a few months.  I’ve largely taken a break from blogging over the last quarter, as the demands of becoming a new father and joining a new law firm (see “Legal Practice” link in the header) … Continue reading

Posted in Alison Frankel, allocation of loss, Ally Bank, Alt-A, Attorneys General, Bank of New York, bankruptcy, banks, Bear Stearns, bench trials, BofA, bondholder actions, borrower fraud, Citigroup, Clayton Holdings, conflicts of interest, contract rights, counterparty risk, Countrywide, damages, Deutsche Bank, due diligence firms, emc, FDIC, Flagstar, fraud, global catastrophe defense, Goldman Sachs, improper documentation, Insurance Department, investigations, investors, irresponsible lending, JPMorgan, Judge Barbara Kapnick, Judge Eileen Bransten, Judge Jed Rakoff, Judge Paul Crotty, Judge William Pauley, judicial momentum, Judicial Opinions, lawsuits, lenders, lending guidelines, liabilities, LIBOR manipulation, liquidity, litigation, loan files, loss causation, MBIA, MBS, media coverage, misrespresentation, monoline actions, monolines, mortgage fraud, mortgage insurers, NCUA, pooling agreements, private label MBS, probes, public perceptions, putbacks, quinn emanuel, re-underwriting, Regulators, rep and warranty, repurchase, reserve reporting, RMBS, SEC, securities, securities fraud, securities laws, securitization, sellers and sponsors, sole remedy, standing, stated income, statistical sampling, subpoenas, subprime, successor liability, summary judgment, Trustees, underwriting guidelines, underwriting practices, vicarious liability, Walnut Place, Wells Fargo | 2 Comments

The Top 5 RMBS Cases to Watch this Summer: No. 3 – ABN AMRO Bank v. Dinallo (Article 78)

My Top 5 RMBS Cases to Watch series began earlier this week with a look at a long-running lawsuit by bond insurer Syncora against EMC and a novel investor lawsuit against Bank of New York Mellon, as Trustee, both of … Continue reading

Posted in accounting, Alison Frankel, allocation of loss, appeals, Bank of New York, banks, bench trials, BlackRock, BofA, CDSs, conflicts of interest, contract rights, counterparty risk, Countrywide, Judge Barbara Kapnick, Judge Eileen Bransten, Judicial Opinions, lawsuits, MBIA, MBS, media coverage, monoline actions, monolines, putbacks, Regulators, rep and warranty, repurchase, RMBS, securitization, settlements, Trustees, valuation | 9 Comments

Last Minute Fireworks Provide Preview of MBIA Restructuring Trial, Beginning Today

A last minute hearing before Judge Barbara Kapnick in New York Supreme Court on Tuesday provided drama worthy of prime time television, illustrating the stakes of the trial beginning today between MBIA, the New York Insurance Department (“NYID”), and Bank … Continue reading

Posted in Attorneys General, banks, bench trials, BofA, Countrywide, Insurance Department, Judge Barbara Kapnick, Judicial Opinions, lawsuits, liabilities, liquidity, litigation, MBIA, monoline actions, monolines, Regulators, restructuring | Tagged , , , , , , , | 1 Comment

MBIA on Winning Streak Heading into Trial on Restructuring Challenge

Monoline insurer MBIA, the most influential plaintiff in mortgage crisis litigation, has been on a roll lately in its lawsuits against Bank of America and other institutions over issues stemming from the subprime meltdown.  But MBIA will face its stiffest … Continue reading

Posted in Alison Frankel, allocation of loss, appeals, bailout, Bank of New York, banks, bench trials, BofA, bondholder actions, CDOs, contract rights, costs of the crisis, Countrywide, damages, discovery, global settlement, Government bailout, investors, Judge Barbara Kapnick, Judge Eileen Bransten, Judicial Opinions, lawsuits, liabilities, litigation, loss causation, MBIA, MBS, media coverage, monoline actions, monolines, private label MBS, putbacks, Regulators, rep and warranty, reserve reporting, responsibility, RMBS, settlements, statistical sampling, subprime, successor liability, The Subprime Shakeout, Trustees | 6 Comments

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 | Leave a comment