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

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 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

June 2, 2014

More on GSE Litigation

By David Reiss

Inside Mortgage Finance did a longer story on the GSE litigation that profiled my take on it, Expert: GSE Shareholder Suits at ‘Early Stage’ of a Long Process; Litigation No Barrier to Dissolution, Says Group. Look for the various lawsuits … Continue reading

May 30, 2014

Reiss on GSE Litigation

By David Reiss

Inside Mortgage Finance profiled me in Legal Expert: GSE Shareholder Plaintiffs, U.S. Want ‘Total’ Victory (behind a paywall). It reads, Look for the various GSE shareholder lawsuits against the federal government to take a “very long time to be decided” … Continue reading

May 22, 2014

Reiss in Bloomberg Industries Q&A on Frannie Litigation

By David Reiss

Bloomberg Industries Litigation Analyst Emily Hamburger interviewed me about The Government as Defendant: Breaking Down Fannie-Freddie Lawsuits (link to audio of the call). The blurb for the interview is as follows: As investors engage in jurisdictional discovery and the government … Continue reading

May 21, 2014

The Government Takeover of Fannie and Freddie

By David Reiss

Richard Epstein has posted a draft of The Government Takeover of Fannie Mae and Freddie Mac: Upending Capital Markets with Lax Business and Constitutional Standards. The paper addresses “the various claims of the private shareholders, both preferred and common, of … Continue reading