Category Archives: TIA

Who’s Watching the Watchmen? RMBS Trustees Come Under Fire as Investors Launch Next Wave of Lawsuits

“When one door closes, another door opens; but we so often look so long and regretfully upon the closed door, that we do not see the ones which open for us.” ― Alexander Graham Bell The face of RMBS litigation … Continue reading

Posted in ACE, Alt-A, appeals, Bank of New York, Bank of New York Mellon, banks, Bernstein Litowitz, BlackRock, BofA, bondholders, Certificateholders, Citigroup, Commerce Bank, Countrywide, Credit Unions, DB Structured Products, Deutsche Bank, Doubleline Capital, Federal Home Loan Banks, fiduciary duties, global settlement, HSBC, Institutional Investors, investors, JPMorgan, Justice Kornreich, Kathy Patrick, lawsuits, liabilities, litigation, MBS, New York State Supreme Court, Paul Clement, PIMCO, pooling agreements, putbacks, repurchase, RMBS, SEC, servicers, settlements, statutes of limitations, subprime, TIA, Trustees, US Bank, Wall St., Wells Fargo | 7 Comments

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