With interesting developments occurring almost daily in the proposed Bofa/Countrywide settlement with Bank of New York, it has been hard to focus on anything else. Indeed, since the last time I posted on the settlement (discussing New York AG Eric … Continue reading
This is big. Though we’ve seen leading indicators over the last few weeks that New York Attorney General Eric Schneiderman might get involved in the proposed Bank of America settlement over Countrywide bonds, few expected a response that might dynamite … Continue reading
The BofA settlement blowback has already begun. If you’ve been following my recent posts (here and here) about the proposed Bank of America (“BofA”) settlement involving the Bank of New York (“BoNY”) and the Kathy Patrick-led investor group (the “Investor … Continue reading
by Steve Ruterman, guest blogger Much of the focus of mortgage crisis-related litigation and news coverage has been directed at put-back rights as a potential source of loss mitigation for mortgage creditors, including investors and bond insurers. However, far less … Continue reading
As more details emerge about Bank of America’s proposed $8.5 billion settlement with Kathy Patrick’s bondholder group and Bank of New York Mellon (“BoNY”) as Trustee, the deal looks even worse for Countrywide RMBS investors. Now, it is apparent that … Continue reading
As part of the Subprime Shakeout’s 100th Post (woo-hoo!), I bring you an analysis of some big, breaking news: today, the Wall Street Journal reported that Bank of America was closing in on an agreement with the investor group led … Continue reading
In another sign that the Federal Government is turning its focus towards prosecuting the securitization players who may have contributed to the Mortgage Crisis, the FDIC filed separate lawsuits against LSI Appraisal (available here) and CoreLogic (available here) earlier this … Continue reading
by Josh Silverman, guest blogger Mortgage-backed securities (“MBS”) litigation should expand this year, as Isaac Gradman correctly pointed out on The Subprime Shakeout in his Top 5 Reasons That MBS Lawsuits Are Just Beginning. The sheer number of lawsuits continues … Continue reading
After a few quiet months in the world of mortgage crisis litigation, we have seen a flurry of activity over the last six weeks that should put to rest speculation that mortgage derivative lawsuits are winding down. To recap these … Continue reading
Is Bank of America on the hook for Countrywide’s liabilities for defective loans? Depends on which judge you ask. With the recent decision by Judge Mariana Pfaelzer to dismiss BofA as a defendant in the case of Maine State Retirement … Continue reading
