Category Archives: remand

Federal Home Loan Bank Litigation Update: MBS Cases Moving Slowly, But Steadily, Ahead for FHLBs

Posted on December 22, 2011 by iautry

By Isaac Gradman and India Autry The Federal Home Loan Bank (FHLB) litigation against MBS underwriters, some of the first to arise out of the sale of toxic mortgage backed securities post-crisis, is progressing slowly but surely towards trial, without … Continue reading →

Posted in banks, Blue Sky laws, choice of law, discovery, Federal Home Loan Banks, investors, lawsuits, litigation, loan files, LTV, MBS, misrespresentation, motions to dismiss, ratings agencies, remand, removability, securities fraud, securities laws, securitization, sophistication, subprime, underwriting guidelines, underwriting practices | 8 Comments

Release of “Way Too Big to Fail” Simply Opening Salvo in Efforts to Reform Mortgage Finance

Posted on November 7, 2011 by igradman

It’s tempting when you have an enormous task before you to focus all of your attention on completing that task while blocking out any thoughts of what comes next.  For me, that enormous task has been the publication of a … Continue reading →

Posted in allocation of loss, appeals, Bank of New York, banks, BofA, bondholder actions, causes of the crisis, contract rights, Countrywide, discovery, FHFA, global settlement, investors, irresponsible lending, lawsuits, liabilities, litigation, lobbying, loss causation, MBIA, monoline actions, mortgage market, pooling agreements, private label MBS, putbacks, regulation, Regulators, remand, repurchase, RMBS, securitization, settlements, statistical sampling, successor liability, The Subprime Shakeout, Uncategorized, Way Too Big to Fail, William Frey | 1 Comment

BREAKING NEWS: Judge Determines BofA $8.5 bn Settlement Belongs in Federal Court

Posted on October 20, 2011 by igradman

Though Bank of America (BofA) has taken its share of lumps over the past six months, this may be the one that leaves the biggest mark.  In an opinion issued today in the Southern District of New York (available here … Continue reading →

Posted in Bank of New York, banks, BofA, bondholder actions, class actions, conflicts of interest, contract rights, Countrywide, damages, fiduciary duties, global settlement, Grais and Ellsworth, Greenwich Financial Services, investors, lawsuits, litigation, loss estimates, MBS, pooling agreements, private label MBS, putbacks, remand, removability, repurchase, RMBS, securities, securities laws, securitization, settlements, The Subprime Shakeout, Trustees, Uncategorized, William Frey | 4 Comments

Federal Home Loan Bank of Pittsburgh Scores Important Early Victory in Pennsylvania Lawsuit

Posted on December 7, 2010 by Isaac Gradman

In the first substantive decision handed down in any of the five major lawsuits by the Federal Home Loan Banks (FHLB) over RMBS losses, the Hon. Stanton Wettick, Jr. of the Court of Common Pleas of Allegheny County, Pennsylvania dealt … Continue reading →

Posted in Countrywide, Federal Home Loan Banks, investors, JPMorgan, lawsuits, loan files, misrespresentation, ratings agencies, remand, removability, rep and warranty, repurchase, sole remedy, toxic assets | 8 Comments

Countrywide Files Motion to Dismiss in Greenwich Financial Case

Posted on October 10, 2009 by Isaac Gradman

With Greenwich Financial v. Countrywide having been remanded to New York state Supreme Court, Countrywide has now filed a Motion to Dismiss, arguing that Greenwich Financial’s Complaint is barred by the operative securitization agreements. As discussed in several prior posts, … Continue reading →

Posted in consitutionality, Countrywide, Greenwich Financial Services, Helping Families Save Homes, HERA, loan modifications, motions to dismiss, remand, Servicer Safe Harbor, subprime, Takings Clause | Leave a comment