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A Resurgence of Residential Mortgage Repurchase Claims on the Horizon

A surge in repurchase claims against mortgage originators may be imminent as aggregators and servicers face nonpayment of debt obligations and liquidity shortfalls resulting from an increase in residential mortgage loans put...more

RMBS Litigation Relating to Loans Sold Prior to 2008: Are We Finally Nearing The End?

The years since the 2007–2008 financial crisis have been marked with milestone settlements of claims against the major mortgage “aggregators” (sometimes also known as “investors” in the mortgage purchasing context), who then...more

Fannie and Freddie Adopt IDR Policy for Repurchases

After years of litigation costing tens of millions of dollars, the Federal Housing Finance Agency has hit upon a way to expedite resolution of breach of representation and warranty claims that, if successful, could minimize...more

FHFA Orders Contributions to Housing Trust Fund

Earlier this month, the Federal Housing Finance Agency (“FHFA”) ordered Fannie Mae and Freddie Mac to begin making contributions to the Housing Trust Fund (“HTF”) and the Capital Magnet Fund (“CMF”). The HTF is a formula...more

Young Adults Underrepresented Among Homebuyers

As the housing market springs back to life, one demographic remains underrepresented among homebuyers. U.S. census data shows that the rate of homeownership for adults under the age of 35 has declined by almost 8% in the last...more

5/22/2014  /  Census , FHFA , First Time Homebuyers

FHFA Announces $1.9 Billion Settlement With Deutsche Bank

On December 20, 2013, the Federal Housing Finance Agency (“FHFA”), as conservator of Fannie Mae and Freddie Mac, announced that it will receive settlement payments of $1.925 billion from Deutsche Bank AG in connection with...more

Bank of America and Freddie Mac Settle Mortgage Loan Claims

Add yet another major settlement to the still-growing list of huge payouts by the nation’s largest banks to settle claims over toxic mortgage-backed securities. Bank of America has now agreed to pay $404 million to Freddie...more

Proposed Legislation Would Curb JP Morgan’s Potential Multi-Billion Dollar Tax Windfall

Late last month, we commented on JP Morgan Chase’s $5.1 billion settlement with the Fair Housing Financing Agency (FHFA), as conservator of Fannie Mae and Freddie Mac. The Wall Street Journal has since reported that JP Morgan...more

11/19/2013  /  Banks , Fannie Mae , FHFA , Freddie Mac , JPMorgan Chase

Wells Fargo Settles Mortgage Claims With FHFA For Close To $1 Billion

Add another mega-settlement to the rapidly growing list of huge payouts by the nation’s largest banks to federal agencies. Wells Fargo reportedly has now agreed to pay the Federal Housing Finance Agency (FHFA), which oversees...more

FHFA’s $5.1 Billion Settlements With J.P. Morgan Chase

On October 25, 2013, the Federal Housing Finance Agency (“FHFA”), as conservator of Fannie Mae and Freddie Mac, announced that it will receive settlement payments of $5.1 billion with J.P. Morgan Chase & Co. in connection...more

DOJ and SEC File Suits Against Bank of America

Stop me if you have heard something like this before. The Department of Justice announced a civil lawsuit on Tuesday alleging that Bank of America defrauded buyers of mortgage-backed securities by lying about the quality of...more

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