Monthly Archives: November 2008

Investors Cry Foul at BofA Settlement of Countrywide Suits. Why the Resistance?

Posted on November 26, 2008 by Isaac Gradman

Not everyone is pleased with Bank of America’s record-setting $8.68 billion settlement of lawsuits against Countrywide by attorneys general across the country (see previous post here). Under the agreement, BofA, which acquired Countrywide in July of this year, agreed to … Continue reading →

Posted in Alt-A, Attorneys General, Aurora Loan Servicing, banks, BofA, Countrywide, investors, lawsuits, Lehman Brothers, lenders, repurchase, underwriting practices | 1 Comment

AMBAC Sues Bear Stearns Subsidiary For Shoddy Underwriting

Posted on November 17, 2008 by Isaac Gradman

Mortgage insurance company Ambac Assurance Corp. has become the latest plaintiff to bring a lawsuit against a mortgage originator for improper underwriting, suing Bear Stearns subsidiary EMC Mortgage Corp. in the United States District Court for the Southern District of … Continue reading →

Posted in Ambac, Bear Stearns, broader credit crisis, Complaints, lawsuits, litigation, misrespresentation, mortgage fraud, mortgage insurers, securitization, underwriting practices | Leave a comment

Focus of New Regulation Should Be On Securitization

Posted on November 11, 2008 by Isaac Gradman

The election of Barack Obama as the presumptive 44th President of the United States promises to usher in an era of increased regulation of the financial markets pursuant to Obama’s platform of economic reform. So far, many commentaries on the … Continue reading →

Posted in accounting, Alt-A, banks, Barack Obama, broader credit crisis, causes of the crisis, lenders, mortgage market, regulation, securities, securitization, subprime | Leave a comment