2021 provided some long-awaited new exit ramps off the long and winding road of business vs. business residential mortgage litigation stemming from the 2007–08 financial crisis. A multitude of recent settlements has left that...more
If you thought Lehman Brothers Holdings Inc. (“LBHI”) was done suing lenders as a result of its settlements with RMBS trustees years ago, think again. ...more
One would think that, as we approach 2021, litigation related to residential mortgage loans originated and sold well over a decade ago would be ancient history. Nevertheless, some suits filed years ago remain active, and,...more
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
3/17/2020
/ Bank of New York (BNY) Mellon ,
Deutsche Bank ,
FHFA ,
Financial Markets ,
Freddie Mac ,
Investment ,
Investment Products ,
JPMorgan Chase ,
Lehman Brothers ,
Loans ,
Mortgages ,
RMBS ,
Securitization ,
Settlement ,
Wells Fargo
Last week, Lehman Brothers Holdings Inc. (“LBHI”) filed two new motions in its ongoing Southern District of New York Bankruptcy Court litigation against approximately 130 loan originators and brokers...more
On March 8, the Bankruptcy Court for the Southern District of New York concluded a lengthy “claims estimation” trial to determine the appropriate final settlement price for a resolution of lawsuits filed on behalf of...more
Thousands of mortgage lenders across the country either recently received, or will soon be receiving, this document from Lehman Brothers Holdings, Inc. (LBHI). It is a notice of a motion to approve a proposed settlement of...more
5/24/2017
/ Banking Sector ,
Commercial Bankruptcy ,
Fannie Mae ,
Freddie Mac ,
Indemnification ,
Lehman Brothers ,
Mortgage Lenders ,
Mortgages ,
Popular ,
Repurchases ,
RMBS ,
Settlement Offer
Six victories that clients of ours had won over Lehman and Aurora in the U.S. District Court for the District of Colorado got affirmed on January 27 by the Tenth Circuit Court of Appeals in Denver after hotly-contested rounds...more
Sunday, September 15, 2013, marked the fifth anniversary of Lehman Brothers’ bankruptcy, the largest in U.S. history. It is widely believed that Lehman’s meltdown set off a domino effect that led to the global financial...more
Earlier this year, a United States District Court judge for the Southern District of Florida (Judge James Lawrence King) severed and dismissed 7 out of 8 mortgage repurchase claims filed by Lehman Brothers Holdings, Inc....more
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