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- Mortgage Lit Roundup: Five Signs That Plaintiffs Are Winning the RMBS War
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- The Government Giveth and It Taketh Away: The Significance of the Game Changing FHFA Lawsuits
- The Top 5 RMBS Cases to Watch this Summer: No. 5 – Syncora v. EMC
- Who’s Watching the Watchmen? RMBS Trustees Come Under Fire as Investors Launch Next Wave of Lawsuits
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- FDIC Sues LPS and CoreLogic Over Appraisal Fraud; Shows Investors Leaving Money on the Table
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- $8.5 Billion BofA Settlement of Countrywide Trusts Raises Questions for Investors on Sidelines
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Category Archives: responsibility
The Top 5 RMBS Cases to Watch this Summer: No. 4 – Retirement Board v. Bank of New York Mellon
Yesterday, I kicked off a countdown of the top 5 RMBS cases to watch this summer with a post about Syncora v. EMC and the impending summary judgment decision on loss causation. Today, I’d like to talk about another case … Continue reading
Posted in allocation of loss, appeals, Attorneys General, Bank of New York, bondholder actions, chain of title, Complaints, contract rights, costs of the crisis, fiduciary duties, improper documentation, investors, Judge William Pauley, Judicial Opinions, lawsuits, liabilities, litigation, litigation costs, MBS, motions to dismiss, pooling agreements, private label MBS, procedural hurdles, putbacks, responsibility, RMBS, SEC, securitization, TIA, Trustees
8 Comments
The Top 5 RMBS Cases to Watch this Summer: No. 5 – Syncora v. EMC
As summer approaches and the weather turns warmer, RMBS litigation is also heating up, generating long-awaited precedent that will dictate how mortgage losses are likely to be allocated by the courts. In order to keep my readers apprised on what … Continue reading
Posted in Alison Frankel, allocation of loss, Bank of New York, banks, Bear Stearns, broader credit crisis, contract rights, costs of the crisis, Countrywide, emc, investors, JPMorgan, Judge Eileen Bransten, Judge Paul Crotty, Judicial Opinions, lawsuits, lending guidelines, liabilities, litigation, loss causation, loss estimates, monoline actions, monolines, mortgage market, private label MBS, putbacks, rep and warranty, repurchase, responsibility, RMBS, subprime, The Subprime Shakeout, Trustees, underwriting guidelines, underwriting practices
12 Comments
RMBS Legal Roundup: The Top Five Developments You Might Have Missed While Obsessing Over the BoNY/BofA Settlement
With interesting developments occurring almost daily in the proposed Bofa/Countrywide settlement with Bank of New York, it has been hard to focus on anything else. Indeed, since the last time I posted on the settlement (discussing New York AG Eric … Continue reading
Posted in AIG, Attorneys General, Bank of New York, banks, BofA, bondholder actions, CDOs, class actions, Complaints, contract rights, costs of the crisis, Credit Unions, damages, Deutsche Bank, Fannie Mae, FHFA, Freddie Mac, global settlement, Goldman Sachs, investigations, investors, JPMorgan, lawsuits, litigation, loss causation, MBS, misrespresentation, mortgage market, motions to dismiss, NCUA, Paulson and Co., private label MBS, probes, procedural hurdles, research, reserve reporting, responsibility, RMBS, SEC, securities fraud, securitization, settlements, sophistication, standing, subpoenas, subprime, too big to fail, Treasury, Trustees, Uncategorized, Wall St.
2 Comments
$8.5 Billion BofA Settlement of Countrywide Trusts Raises Questions for Investors on Sidelines
As more details emerge about Bank of America’s proposed $8.5 billion settlement with Kathy Patrick’s bondholder group and Bank of New York Mellon (“BoNY”) as Trustee, the deal looks even worse for Countrywide RMBS investors. Now, it is apparent that … Continue reading
Posted in allocation of loss, Bank of New York, banks, BlackRock, BofA, bondholder actions, chain of title, conflicts of interest, contract rights, Countrywide, damages, Federal Home Loan Banks, Federal Reserve, fiduciary duties, Freddie Mac, global settlement, Goldman Sachs, improper documentation, incentives, investors, irresponsible lending, Kathy Patrick, lawsuits, lenders, lending guidelines, liabilities, litigation, litigation costs, loss causation, loss estimates, MBS, MetLife, PIMCO, pooling agreements, private label MBS, procedural hurdles, putbacks, re-underwriting, rep and warranty, repurchase, responsibility, RMBS, securities, securitization, sellers and sponsors, settlements, standing, subprime, successor liability, The Subprime Shakeout, TIAA-CREF, Trustees, underwriting practices, valuation, waiver of rights to sue, William Frey
17 Comments