May 20, 2014
Mortgage Servicer Accountability
Joseph A. Smith, Jr, the Monitor of the National Mortgage Settlement, issued his third set of compliance reports (I blogged about the second here). For those needing a recap, As required by the National Mortgage Settlement (Settlement or NMS), I … Continue reading
May 20, 2014 in Upstream litigation | Permalink | No Comments
May 19, 2014
Foreclosure Review
The US Government Accountability Office issued a report, Foreclosure Review: Regulators Could Strengthen Oversight and Improve Transparency of the Process. GAO did this study because it was asked to examine the amended consent order process relating to foreclosures. This process … Continue reading
May 19, 2014 in Upstream litigation | Permalink | No Comments
May 15, 2014
Stealing Fannie and Freddie?
Jonathan Macey and Logan Beirne have posted a short working paper, Stealing Fannie and Freddie, to SSRN. It advocates a position similar to that taken by the plaintiffs in the GSE shareholder litigation. They argue, Politicians are running rough-shod over … Continue reading
May 15, 2014 in Upstream litigation | Permalink | No Comments
May 8, 2014
Reiss on Bloomberg Terminals regarding GSE Litigation
I was quoted on the Bloomberg Terminals (behind a very expensive paywall!) on May 6th about the Fannie and Freddie litigation: Even if the Junior Preferred Shareholders get the Court to void the Third Amendment to the PSPA, they cannot … Continue reading
May 8, 2014 in Upstream litigation | Permalink | No Comments
April 28, 2014
Premature End to Foreclosure Review
Congressman Cummings (D), the ranking minority member of the House Committee on Oversight and Government Reform, has sent a letter to Congressman Issa, the Chairman of the Committee, regarding the Independent Foreclosure Review. It opens, I am writing to request … Continue reading
April 28, 2014 in Upstream litigation | Permalink | No Comments
April 22, 2014
Reiss on Hedge Funds’ GSE Strategy
American Banker quoted me in Everything Lenders Need to Know About GSE Shareholders’ Lawsuits (behind a paywall, but available in full here). It reads in part, A powerful group of shareholders is amplifying attacks on housing finance reform legislation as … Continue reading
April 22, 2014 in Upstream litigation | Permalink | No Comments
April 21, 2014
“Lies, Damned Lies, and Statistics”
Judge Chesler issued an Opinion in The Prudential Insurance Company of America et al. v. Bank of America, National Association et al., No. 13-1586 (Apr. 17, 2014), deciding the motion to dismiss the Complaint. Claims relating to fraud, a theory … Continue reading
April 21, 2014 in Upstream litigation | Permalink | No Comments
