“When one door closes, another door opens; but we so often look so long and regretfully upon the closed door, that we do not see the ones which open for us.” ― Alexander Graham Bell The face of RMBS litigation … Continue reading
Yesterday, I kicked off a countdown of the top 5 RMBS cases to watch this summer with a post about Syncora v. EMC and the impending summary judgment decision on loss causation. Today, I’d like to talk about another case … Continue reading
“They are who we THOUGHT they were — and we let ’em off the hook!” This famous postgame rant from former Arizona Cardinals coach Denny Green after his team’s epic meltdown on Monday Night Football against the Bears could just … Continue reading
Two days after the release of one of the most scathing judicial opinions in recent memory, the importance of federal Judge Jed Rakoff’s rejection of the SEC’s $285 million settlement with Citigroup is just beginning to sink in. In just … Continue reading
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
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
As reported in Bloomberg, the Federal Bank of New York has announced that it is involved in “multiple efforts” to exercise its rights with respect to its holdings in faulty mortgages an other assets acquired through the bailouts of Bear … Continue reading
By Manal Mehta, Guest Blogger The Securities and Exchange Commission (SEC) recently took a much needed step towards improving the transparency of bank balance sheets, particularly when it comes to the adequacy of reserves for mortgage repurchase obligations stemming from … Continue reading
