Investors that are considering objecting to the proposed $8.5 billion Bank of America (BofA) residential mortgage-backed securitization (RMBS) settlement may now do so by filing -- no later than August 30th -- a short form objection seeking further information related to the proposed deal.
On August 5, 2011, New York State Supreme Court Justice Barbara Kapnick, the judge who has been asked to approve the proposed $8.5 billion BofA RMBS settlement, entered an order amending the process for interested parties to register their concerns about the settlement. Under the terms of that order, an investor need only "state the grounds for [its] objection, one of which may be that such [investor] does not have enough information to evaluate the Settlement."
Each objector that has filed an objection by the August 30th deadline will be entitled...
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