March 14, 2016
Final Accounting for National Mortgage Settlement
Joseph Smith, the Monitor of the National Mortgage Settlement, has issued his Final Compliance Update. He writes, I have filed a set of five compliance reports with the United States District Court for the District of Columbia as Monitor of the … Continue reading
March 14, 2016 in Upstream litigation | Permalink | No Comments
February 1, 2016
Rigged Justice
The Office of Senator Elizabeth Warren has released Rigged Justice: 2016 How Weak Enforcement Lets Corporate Offenders Off Easy. The Executive Summary states, When government regulators and prosecutors fail to pursue big corporations or their executives who violate the law, … Continue reading
February 1, 2016 in Upstream litigation | Permalink | No Comments
January 11, 2016
Monday’s Adjudication Roundup
New York state appeals court affirmed denying dismissal of claims against Morgan Stanley for fraud. Plaintiff bought $17 million in high-risk notes tied to residential mortgage-backed securities in a $500 million collateralized debt obligation that eventually were wiped out. Quicken … Continue reading
January 11, 2016 in Upstream litigation | Permalink | No Comments
December 7, 2015
Equitable Subrogation in Mortgage Refinancing
I am speaking on Equitable Subrogation in Mortgage Refinancing and Land Purchase Transactions in an ABA Professor’s Corner webinar on Wednesday with Professor Wilson Freyermuth of the University of Missouri School of Law. If this sounds like an esoteric topic, it is! … Continue reading
December 7, 2015 in Upstream litigation | Permalink | No Comments
December 3, 2015
Reps and Warranties Mean What They Say
The New York Appellate Division, 1st Department, issued a ruling in Bank of New York Mellon v. WMC Mortgage, 654464/12 (Dec. 1, 2015) that stands for the proposition that representations and warranties regarding mortgage-backed securities mean what they say and say … Continue reading
December 3, 2015 in Upstream litigation | Permalink | No Comments
October 26, 2015
Monday’s Adjudication Roundup
TCW Asset Management Co. will continue to face $128 million suit from investors for allegedly lying about the value of mortgage-backed securities. A court found that the City of Saratoga Springs failed to timely appeal in case over incorporation of … Continue reading
October 26, 2015 in Upstream litigation | Permalink | No Comments
October 23, 2015
Systemic Servicing Failure
Joseph A. Smith, Jr., the Monitor of the National Mortgage Settlement, issued An Update on Ocwen’s Compliance. It opens, I filed a compliance report with the United States District Court for the District of Columbia (the Court) today that provides the … Continue reading
October 23, 2015 in Upstream litigation | Permalink | No Comments
