Freddie Mac has announced the immediate implementation of its Streamlined Modification program, a no-document modification program offered to severely delinquent borrowers. The implementation of the program, originally set to...more
5/20/2013
- Borrowers Freddie Mac Loan Modifications Mitigation
Bank of America has agreed to settle a class-action lawsuit brought by investors who claimed they were misled by its Countrywide unit into buying risky mortgage securities. Bank of America acquired Countrywide Financial, a...more
4/22/2013
- Bank of America Class Action Investors Mortgages Settlement
Last week, the Department of Justice (DOJ) filed a civil suit in the Central District of California against Standard & Poor’s Financial Services (S&P) and its parent company McGraw-Hill. The suit alleges that S&P engaged in a...more
2/14/2013
- CDOs DOJ Fraud Investment Schemes McGraw Hill RMBS S&P
There was a very favorable development recently in one of my buyback cases. The federal district court in Miami issued a final order that has great potential application to other buyback suits, whether already pending or...more
1/17/2013
- Buyback Litigation Lehman Brothers Loans Offer of Proof
How can Countrywide/B of A even keep a straight face when it argues that correspondent lenders need to pay it outrageous amounts of money to settle claims for actual or potential losses?...more
12/17/2012
- Countrywide Loans RMBS
