This just in: the Hon. Harold Baer, Jr. of the Southern District of New York has certified a class of bondholders in Goldman Sachs MBS Trust 2006-S2 led by the Mississippi Public Employees Retirement Fund. Included in the class are … Continue reading
(Updated version, including new 6th paragraph on subsequent announcement of larger probe into Morgan Stanley bonds) Having received copious kudos for engineering an $8.5 billion investor settlement with Bank of America over soured Countrywide residential mortgage backed securities (RMBS), “pitbull” … Continue reading
As loyal readers will recall, I laid it on the line a few weeks back and predicted that MBIA would win its loss causation argument against Countrywide/BofA, making the nation’s largest bank wish it had settled this bellwether piece of … Continue reading
With all eyes in the mortgage litigation world glued to the pending decision on Partial Summary Judgment in MBIA v. Countrywide, et al., commentators are beginning to speculate that a settlement may be in the offing between the two MBS … 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
by Steve Ruterman, guest blogger It has been four years since the onset of the epic economic and capital markets fiasco known as the housing crash, and this crisis is far from over. Because the housing and mortgage finance industries … Continue reading
