Reiss on Fannie/Freddie Suits

Posted by & filed under Class Action Litigation, Government lawsuits, Investor lawsuits, Upstream litigation media coverage.

Bloomberg BNA quoted me in No Basis for Discovery by GSE Investors, Treasury Department, FHFA Memos Say. It reads [Reproduced with permission from BNA’s Banking Report, 102 BBR 417, 3/11/14. Copyright  2014 by The Bureau of National Affairs, Inc. (800-372-1033) http://www.bna.com] The Treasury Department and the Federal Housing Finance Agency March 4 said a… Read more »

Reiss on $13B JPMorgan Settlement in CSM

Posted by & filed under 2013, Government lawsuits, Upstream litigation commentary, Upstream litigation media coverage.

The Christian Science Monitor quoted me in JPMorgan Chase settles. Is $13 billion for role in mortgage crisis fair? The story reads in part, The settlement does not, however, release any individuals within JPMorgan from further criminal or civil charges. The bank has agreed to cooperate fully in any investigations related to the fraud covered… Read more »

Reiss on Fannie and Freddie Buyout

Posted by & filed under 2013, Investor lawsuits, Upstream litigation commentary, Upstream litigation media coverage.

Law360 quoted me in Fairholme Changes The Game For Fannie And Freddie (behind a paywall).  It reads in part, Fairholme Capital Management LLC’s plan to buy Fannie Mae’s and Freddie Mac’s insurance businesses will likely turn out to be more symbolic gesture than successful deal, experts say, but the hedge fund’s bold move could increase… Read more »

Underwater Mortgages Eminent Domain Battle Gears up

Posted by & filed under 2013, Government lawsuits, Investor lawsuits, Upstream litigation media coverage.

I was quoted in a recent story in www.thestreet.com, Eminent Domain Mortgage Battle Is a Lose-Lose Situation.  It reads in part, The move by Richmond, Calif., to seize “underwater mortgages” from private investors using its powers of eminent domain has drawn controversy and consternation within the mortgage industry. The law has mostly been used to seize… Read more »

FIRREA Flies

Posted by & filed under 2013, Government lawsuits, Upstream litigation media coverage.

Law360 interviewed me about the federal government’s continuing reliance on FIRREA in Prosecutors Get Last Laugh In $1B BofA Fraud Case (behind a paywall): A controversial legal theory at the heart of a $1 billion mortgage fraud suit against Bank of America Corp. could become a go-to enforcement tool for civil prosecutors in the wake… Read more »

Reiss on FIRREA!

Posted by & filed under 2013, Government lawsuits, Upstream litigation by date, Upstream litigation commentary, Upstream litigation media coverage.

Law360 quoted me in a story, Rakoff Ruling In $1B BofA Case May Halt DOJ Hot Streak, that reflects some judicial skepticism about the federal government’s broad reading of FIRREA: Prosecutors have seized on an obscure 1989 law to launch a series of splashy cases against banks in recent years, but a prominent New York… Read more »

Reiss on Booming Structured Finance Litigation

Posted by & filed under Government lawsuits, Investor lawsuits, Rating agency litigation, Upstream litigation, Upstream litigation media coverage.

Law360 interviewed me about the boom in structured finance litigation arising from the Financial Crisis (here, behind a paywall): banks will not be able to let their guard down anytime soon, thanks to the U.S. Department of Justice’s rediscovery of a statute developed in response to the late 1980s savings and loan crisis and the… Read more »