Category Archives: William Frey

Motion to Exclude Frey Testimony from Article 77 Raises Eyebrows, Questions About Role of BlackRock and PIMCO

Posted on September 24, 2013 by igradman

The backyard brawl between the AIG-led objecting investors on one hand and Bank of New York Mellon (BNYM) and the investors supporting BofA’s $8.5 billion settlement on the other is about to get even messier.  As I last wrote on … Continue reading →

Posted in AIG, allocation of loss, appeals, Bank of New York, banks, bench trials, BlackRock, BofA, bondholder actions, conflicts of interest, contract rights, Countrywide, demand letter, Event of Default, Fannie Mae, FHFA, fiduciary duties, global settlement, incentives, Investor Syndicate, investors, Judge Barbara Kapnick, Judge William Pauley, Judicial Opinions, Kathy Patrick, lawsuits, liabilities, litigation, MBS, negligence and recklessness, PIMCO, private label MBS, putbacks, remand, rep and warranty, repurchase, responsibility, RMBS, servicers, Trustees, William Frey | Leave a comment

BREAKING NEWS: Article 77 Hearing Postponed, Bill Frey Subpoenaed by AIG

Posted on May 29, 2013 by igradman

I wanted to publish a quick update to yesterday’s article breaking down the challenges BofA will face to its $8.5 billion mortgage rep and warranty settlement.  Sources have informed me that the May 30 Merits Hearing for this settlement proceeding … Continue reading →

Posted in appeals, BofA, Event of Default, global settlement, Investor Syndicate, Judge Barbara Kapnick, jury trials, Kathy Patrick, specificity, William Frey | Leave a comment

Investor End Games: All Is Not Well in the Garden

Posted on August 29, 2012 by igradman

“As long as the roots are not severed, all is well.  And all will be well in the garden.” – Chance the Gardener, Being There (1979) With Judge Barbara Kapnick announcing earlier this month that the approval hearing in Bank … Continue reading →

Posted in AIG, allocation of loss, ASF, Attorneys General, Bank of New York, banks, BlackRock, Bloomberg, BofA, bondholder actions, causes of the crisis, conflicts of interest, consitutionality, contract rights, costs of the crisis, Countrywide, damages, Deutsche Bank, discovery, eminent domain, fiduciary duties, foreclosure crisis, fraud, global settlement, Grais and Ellsworth, impact of the crisis, incentives, investors, irresponsible lending, Judge Barbara Kapnick, Judge Eileen Bransten, junior liens, Kathy Patrick, lawsuits, lenders, lending guidelines, liabilities, LIBOR manipulation, liquidity, litigation, litigation costs, lobbying, MBIA, MBS, misrespresentation, monoline actions, monolines, mortgage fraud, mortgage insurers, mortgage market, negative equity, Neil Barofsky, private label MBS, procedural hurdles, putbacks, recession, rep and warranty, repurchase, Residential Capital, responsibility, restructuring, RMBS, securities, securitization, sellers and sponsors, settlements, standing, statistical sampling, statutes of limitations, successor liability, summary judgment, The Subprime Shakeout, too big to fail, toxic assets, Treasury, Trustees, underwriting guidelines, underwriting practices, US Bank, vicarious liability, waiver of rights to sue, Wall St., Walnut Place, Way Too Big to Fail, Wells Fargo, William Frey | 2 Comments

The Inside Story on PIMCO’s Defection from ASF

Posted on February 23, 2012 by igradman

As first reported by Bloomberg yesterday, bond king Pacific Investment Management Co. (PIMCO) has quit the American Securitization Forum (ASF) after the trade group refused to issue a statement reflecting investors’ views of the announced settlement between the five largest … Continue reading →

Posted in allocation of loss, ASF, Attorneys General, banks, Bloomberg, conflicts of interest, contract rights, global settlement, incentives, investors, junior liens, loan modifications, lobbying, mark-to-market accounting, MBS, PIMCO, pooling agreements, private label MBS, securitization, servicers, The Subprime Shakeout, Way Too Big to Fail, William Frey | 1 Comment

Is Foreclosure Settlement Déjà Vu All Over Again?

Posted on February 9, 2012 by igradman

Today, the Attorneys General of 49 states (with Oklahoma being the lone holdout) announced a record $26 billion settlement with the nation’s five largest servicers over false and fraudulent foreclosure practices like robosigning.  That big number looks great on paper, … Continue reading →

Posted in allocation of loss, Attorneys General, bailout, banks, BofA, consitutionality, contract rights, costs of the crisis, Countrywide, education, foreclosure crisis, global settlement, Government bailout, Greenwich Financial Services, Helping Families Save Homes, homeowner relief, improper documentation, incentives, investigations, investors, irresponsible lending, junior liens, lenders, liabilities, loan modifications, lobbying, MBS, media coverage, moral hazard, mortgage market, predatory lending, press, private label MBS, probes, public perceptions, Regulators, RMBS, robo-signers, securitization, Servicer Safe Harbor, servicers, settlements, sophistication, subprime, Takings Clause, The Subprime Shakeout, Way Too Big to Fail, William Frey, workouts | 13 Comments