April 18, 2016
Goldman’s $5B Mortgage Settlement: If They Only Knew
The news reports about Goldman’s $5 billion settlement over its boom-time securitization practices have focused on whether Goldman would really have to pay all $5 billion at the end of the day. It is important to focus on the size … Continue reading
April 18, 2016 in MBS offering materials and documents | Permalink | No Comments
April 20, 2015
Monday’s Adjudication Roundup
Former Freddie Mac executives, who were accused of lying about Freddie’s exposure to subprime mortgages before the financial crisis, settled with the SEC. Citibank shareholders slam the Bank’s motion to dismiss a case over mortgage-backed securities worth more than $17 … Continue reading
April 20, 2015 in MBS offering materials and documents | Permalink | No Comments
September 26, 2014
Weaker Reps and Warranties on the Horizon
Inside Mortgage Finance highlighted a DBRS Presale Report for J.P. Morgan Mortgage Trust, Series 2014-IV3. This securitization contains prime jumbo ARMS, some with interest only features. So, these are not plain vanilla mortgages. The report raises some concerns about loosening … Continue reading
September 26, 2014 in MBS offering materials and documents | Permalink | No Comments
June 25, 2014
California Court Denies Claims that Deficiencies Rendered any Security Interest in the Deed of Trust Invalid
The court in deciding Sollenne v. United States Bank Nat’l Ass’n, 2013 U.S. Dist. (S.D. Cal., 2013) ultimately found that the plaintiffs’ claims premised upon the securitization of the loan and violations of the PSA were to be dismissed. The … Continue reading
June 25, 2014 in MBS offering materials and documents | Permalink | No Comments
February 22, 2014
The Court of Appeals of Ohio Upholds Foreclosure Judgment Against Homeowner for Failing to Challenge Bank’s Standing During Trial
In October 2013, the Court of Appeals of Ohio in Wells Fargo Bank N.A., v. Arlington affirmed a trial court’s judgment in favor of the plaintiff bank in a foreclosure action because the homeowner did not properly challenge the bank’s … Continue reading
February 22, 2014 in MBS offering materials and documents | Permalink | No Comments
January 21, 2014
Florida Appeals Court Holds that Service Agent of Bank has Standing to Initiate Foreclosure Action
On October 13, 2013, the Florida District Court of Appeals in American Home Mortgage Servicing, Inc. v. Bednarek held that a servicing agent of a larger bank had standing to file a foreclosure action against a homeowner because it properly … Continue reading
January 21, 2014 in MBS offering materials and documents | Permalink | No Comments
July 12, 2013
Ain’t Misrepresentin’
According to Wikipedia, the performers in the musical Ain’t Misbehavin’ “present an evening of rowdy, raunchy, and humorous songs that encapsulate the various moods of the era and reflect” a “view of life as a journey meant for pleasure and … Continue reading
July 12, 2013 in MBS offering materials and documents | Permalink | No Comments
