July 18, 2014

GSE Shareholders Taking Discovery

By David Reiss

Judge Sweeney of the Court of Federal Claims issued an Opinion and Order regarding jurisdictional discovery as well as a related Protective Order in the GSE Takings Case brought by Fairholme against the United States.  I had previously discussed the … Continue reading

July 15, 2014

Reiss on Citigroup Settlement

By David Reiss

Law360 quoted me in Feds Deploy Potent Bank Fraud Law In $7B Citi Pact (behind a paywall). It reads in part: The U.S. Department of Justice’s $7 billion mortgage bond settlement with Citigroup Inc. on Monday may not have been … Continue reading

July 2, 2014

Running CERCLA around FIRREA

By David Reiss

Law360 quoted me in High Court Environmental Ruling Could Clear Air For Banks (behind a paywall). The article reads in part, A recent U.S. Supreme Court ruling that a federal environmental law does not preempt state statutes of repose has … Continue reading

June 25, 2014

S&P on Risky Reps and Warranties

By David Reiss

Standard & Poor’s posted New Players In The RMBS Market Could Present Unique Representations And Warranties Risks. It opens, S&P believes that new entrants into the residential mortgage-backed securitization (RMBS) market that make loan-level representations and warranties (R&Ws) may present … Continue reading

June 18, 2014

S&P Must Face The Orchestra on Rating Failure

By David Reiss

After many state Attorneys General brought suit against S&P over the objectivity of their ratings, S&P sought to consolidate the cases in federal court. Judge Furman (SDNY) has issued an Opinion and Order in In Re:  Standard & Poor’s Rating … Continue reading

June 11, 2014

Reiss on GSE Transfer Taxes

By David Reiss

Law360 quoted me in Fannie, Freddie Look Unstoppable In Transfer Tax Fight (behind a paywall).  It reads in part, Class actions against Fannie Mae and Freddie Mac over hundreds of millions of dollars in unpaid transfer taxes in states and cities around the … Continue reading

June 3, 2014

Discovery War in GSE Litigation

By David Reiss

The United States filed a motion for a protective order in the Fairholme Funds case in the Court of Federal Claims (the Fairholme Takings case). You may not be familiar with protective orders. By way of background, Federal Rule of … Continue reading