Residential Real Estate, Securities Law, Finance & Banking

Orrick's Financial Industry Week in Review - May 13, 2013

by Orrick, Herrington & Sutcliffe LLP on 5/13/2013

In This Issue: FHFA Limit on Fannie and Freddie Loan Purchases to Qualified Mortgage; Rating Agency Developments; MBIA and Bank of America Settle MBS Litigation for $1.7 Billion: Assured and UBS Agree to Settle RMBS...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - May 10, 2013

by BuckleySandler LLP on 5/13/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PRIVACY/DATA SECURITY -...more

FHFA Updates Securitization Platform, Contractual And Disclosure Framework Progress

by BuckleySandler LLP on 5/9/2013

On April 30, the FHFA published a progress report on the current design principles and functions on the common securitization platform for residential mortgage-backed securities that it is building. The report explains that...more

FHFA Common Securitization Infrastructure

by Orrick - Structured Finance Group on 5/8/2013

On April 30, the FHFA issued its progress report on the steps being taken to establish a common securitization infrastructure for MBS. The FHFA is encouraging interested parties to provide written input on the progress...more

Orrick's Financial Industry Week in Review - May 6, 2013

by Orrick, Herrington & Sutcliffe LLP on 5/6/2013

On April 30, the FHFA issued its progress report on the steps being taken to establish a common securitization infrastructure for MBS. The FHFA is encouraging interested parties to provide written input on the progress...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 26, 2013

by BuckleySandler LLP on 4/29/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - E-COMMERCE - PRIVACY/DATA SECURITY -...more

Banking & Financial Services E-Note - April 25, 2013

by John Chiles, Benjamin Coulter, Bryan Glover, John Michael Kearns, Mignon Lunsford, Zachary Miller, Jordan Teague | Burr & Forman on 4/26/2013

In This Issue: - Regulators Could Step in with Tougher Rules as Bank Profits Rise - Bill Would Force Study of Basel III Impact on Bank Capital Costs - Regulator Wants Enforcement Powers Against Bank...more

Bank of America Settles Class Action Brought By Mortgage Investors

by Sacha Boegem, Philip R. Stein | Bilzin Sumberg Mortgage Repurchase Group on 4/22/2013

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

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 19, 2013

by BuckleySandler LLP on 4/22/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - CREDIT CARDS - Excerpt from Consumer...more

Missouri Court Rules Against $440,000 Cyberheist Victim

by Bernstein Shur on 4/22/2013

A Missouri court last week handed a legal defeat to a local escrow firm that sued its financial institution to recover $440,000 stolen in a 2009 cyberheist. The court ruled that the company assumed greater responsibility for...more

Financial Services Bulletin: Action At The CFTC, SEC, CFPB, Fed, And FDIC

by Perkins Coie on 4/19/2013

On Wednesday, April 10, 2013, the Commodity Futures Trading Commission (the "CFTC") and the Securities and Exchange Commission (the "SEC") jointly issued final rules and guidelines that will require certain regulated entities...more

New York State Court Dismisses RMBS Fraud Suit Against UBS

by Orrick - Structured Finance Group on 4/18/2013

On April 5, New York Supreme Court Justice Shirley Werner Kornreich dismissed with prejudice a suit brought by six Loreley Financing entities against various UBS entities. Loreley alleged fraud stemming from UBS’s issuance of...more

Court Denies Goldman Sachs’s Motion to Dismiss RMBS Action Brought by Prudential

by Orrick - Structured Finance Group on 4/18/2013

On April 9, Judge Susan Wigenton of the U.S. District Court for the District of New Jersey denied Goldman Sachs’s motion to dismiss Prudential’s complaint alleging fraud in connection with the sale of $375 million in RMBS. ...more

Two Federal Courts Hold Government MBS Claims Were Untimely

by BuckleySandler LLP on 4/18/2013

On April 9, the U.S. District Court for the Central District of California dismissed claims brought by the FDIC as receiver for a failed bank against a financial institution related to 10 MBS certificates sold to the bank,...more

Federal Judge Dismisses FDIC’s Securities Fraud Claims Against Countrywide

by Orrick - Structured Finance Group on 4/18/2013

On April 8, U.S. District Judge Mariana R. Pfaelzer of the Central District of California dismissed the FDIC’s suit against Countrywide. FDIC, as the receiver for Colonial Bank, filed suit against Countrywide and Bank of...more

Orrick's Financial Industry Week in Review - April 15, 2013

by Orrick, Herrington & Sutcliffe LLP on 4/15/2013

Fed Proposal on Annual Assessments - On April 15, the Fed requested comment on a proposed rule to establish an annual assessment for bank holding companies and savings and loan companies with $50 billion or greater in total...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 12, 2013

by BuckleySandler LLP on 4/15/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PRIVACY/DATA SECURITY - CRIMINAL...more

NCUA Announces Pre-Litigation MBS Settlement

by BuckleySandler LLP on 4/12/2013

On April 2, the NCUA announced that a financial institution agreed to settle allegations related to mortgage-backed securities issued to certain corporate credit unions. The NCUA has alleged on behalf of failed corporate...more

Lockboxes - Tips from the Trenches

by Staci Pierce | Baker, Donelson, Bearman, Caldwell &... on 4/10/2013

Lockboxes and Cash Management Agreements are being required with increasing frequency in loan originations and workout deals. When carefully planned, lockbox implementation can be seamless. When enforced as an afterthought,...more

New Research Suggests Need To Expand Incentives-Based View Of Housing Crisis

by BuckleySandler LLP on 4/8/2013

Recently, researchers from Princeton and the University of Michigan published a paper that examines the role played in the financial crisis by distorted beliefs about house prices, as opposed to the role of poorly designed...more

Orrick's Financial Industry Week in Review - April 8, 2013

by Orrick, Herrington & Sutcliffe LLP on 4/8/2013

UK Financial Services Regulatory Handover - On April 1, the long-awaited handover of power from the FSA to the "twin-peaks system," consisting of the Prudential Regulation Authority (PRA) and Financial Conduct Authority...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 5, 2013

by BuckleySandler LLP on 4/8/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PAYMENTS - Excerpt from Payments: CFPB...more

J-REIT Reform – Finance and Insider Trading Regulations

by Shusaku Iwasaki, Mitsutoshi Uchida | Morrison & Foerster LLP on 4/2/2013

On December 7, 2012, the working group of the finance committee of the Financial Services Agency of Japan (the “Working Group”) issued its final report (the “Final Report”) with respect to the reform of the legal regime of...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - March 29, 2013

by BuckleySandler LLP on 3/29/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - CREDIT CARDS - PAYMENTS -...more

Dodd-Frank News - March 2013: Dodd-Frank Wall Street Reform And Consumer Protection Act Monthly Update

by Rachel Cash, David Elliott, Kristin Peters, Jordan Teague | Burr & Forman on 3/27/2013

In This Issue: - Recent Cases ..CFTC Jurisdiction Under the Commodity Exchange Act ..Dodd-Frank Amendment to the TILA ..Preemption ..Say-On-Pay Voting ..Pre-Dispute Arbitration Agreements ...more

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Residential Real Estate › Securities Law › Finance & Banking

Orrick's Financial Industry Week in Review - May 13, 2013

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - May 10, 2013

FHFA Updates Securitization Platform, Contractual And Disclosure Framework Progress

FHFA Common Securitization Infrastructure

Orrick's Financial Industry Week in Review - May 6, 2013

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 26, 2013

Banking & Financial Services E-Note - April 25, 2013

Bank of America Settles Class Action Brought By Mortgage Investors

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 19, 2013

Missouri Court Rules Against $440,000 Cyberheist Victim

Financial Services Bulletin: Action At The CFTC, SEC, CFPB, Fed, And FDIC

New York State Court Dismisses RMBS Fraud Suit Against UBS

Court Denies Goldman Sachs’s Motion to Dismiss RMBS Action Brought by Prudential

Two Federal Courts Hold Government MBS Claims Were Untimely

Federal Judge Dismisses FDIC’s Securities Fraud Claims Against Countrywide

Orrick's Financial Industry Week in Review - April 15, 2013

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 12, 2013

NCUA Announces Pre-Litigation MBS Settlement

Lockboxes - Tips from the Trenches

New Research Suggests Need To Expand Incentives-Based View Of Housing Crisis

Orrick's Financial Industry Week in Review - April 8, 2013

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 5, 2013

J-REIT Reform – Finance and Insider Trading Regulations

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - March 29, 2013

Dodd-Frank News - March 2013: Dodd-Frank Wall Street Reform And Consumer Protection Act Monthly Update

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