REFinBlog

Editor: David Reiss
Brooklyn Law School

Monthly Archives: April 2013

S&P Seeking Dismissal of Suit

April 23, 2013

by Gloria Liu

In the wake of the 2008 Financial Crisis, Standard & Poor’s (S&P) has been accused of inflating its ratings to win business during the boom in mortgage investments. The Justice Department brought civil fraud charges accusing S.& P of knowingly giving complex … Continue reading

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Bounced Mortgage Relief Checks

by Gloria Liu

In February, federal banking regulators reached a $9.3 billion pact with 13 major lenders to settle claims of foreclosure abuses like bungled loan modification and flawed paperwork. Under the deal, homeowners can receive up to $125,000 in cash relief. Unfortunately, as … Continue reading

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Cherry Bombs in Michigan

April 22, 2013

by David Reiss

An ongoing Michigan state case, Wells Fargo Bank, N.A. v. Cherryland Mall L.P. et al.,  has been generating a lot of heat over an obscure but important issue for commercial mortgage borrowers, the scope of carveouts from standard nonrecourse provisions … Continue reading

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Robo-Signing Complaints Must Sing A Different Toone

April 19, 2013

by David Reiss

The Court of Appeals for the 10th Circuit took a hard look at a complaint alleging robo-signing misbehavior relating to a promissory note and its various endorsements in Toone v. Wells Fargo Bank, N.A. et al., (Mar. 8, 2013, No. 11-4188).  … Continue reading

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Judiciary’s Take on the Subprime Zeitgeist

April 18, 2013

by David Reiss

The 2nd Circuit’s opinion in FHFA v. UBS Americas Inc. et al. (April 5, 2013, No. 12-3207-cv) offers an interesting window into how at least some members of the judiciary understand the Subprime Crisis. On its face, the case was … Continue reading

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Washington State Court Holds that Defendants Could Not Challenge Chase’s Authority to Foreclose During an Unlawful Detainer Action

by Justin Rothman

In JPMorgan Chase Bank, N.A. v. Pace, 163 Wash.App 1017 (2011), the Court of Appeals of Washington affirmed a lower court’s ruling granting Plaintiff summary judgment. In the case at hand, Defendants owned real property in Washington. In February 2005, … Continue reading

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Are Baby Steps Enough for Fannie and Freddie?

April 17, 2013

by David Reiss

S&P issued a research report, The Implementation Of The FHFA’s Plan For Fannie Mae And Freddie Mac Still Has A Long Way To Go. The report addresses a number of recent events that will impact any reform program for the … Continue reading

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