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 →
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 →
“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 →
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 →
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 →
After a hiatus over the holidays, I return with Part IV of this five-part series on my experiences during a recent book tour to promote the release of Way Too Big to Fail: How Government and Private Industry Can Build … Continue reading →
I woke Tuesday morning, Nov. 8 on the second day of the Way Too Big to Fail book tour to the news that Kathy Patrick, legal architect of Bank of America’s Hail Mary Countrywide settlement (background here and here), had … Continue reading →
My first day in New York City to promote the release of Way Too Big to Fail was a whirlwind, as expected. I arrived into JFK at 6:00 AM and headed into Manhattan for my first stop at the Cornell … Continue reading →
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 →
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 →
The views and opinions expressed herein are solely those of the author and do not reflect those of any other organization. These posts reflect the author's creative content and no guarantee can be made for the accuracy of the content of any given post. The author makes available the information and materials on this blog (the "Materials") for general informational purposes only. The Materials are not intended to and do not constitute legal advice or a solicitation for the formation of an attorney-client relationship and no attorney-client relationship is created through your use of this blog or your receipt of the Materials. Unsolicited e-mails and information sent to the author do not create an attorney-client relationship with the author, will not be considered confidential, and may be disclosed to others. The author may accept clients only in accordance with certain formal procedures and may render legal advice only after completion of those procedures.
