Bank of America, RMBS | JD Supra Law News

Federal Court Dismisses $31 Million FDIC Suit as Time-Barred

by Orrick - Structured Finance Group on 4/30/2013

On April 22, Judge Mariana R. Pfaelzer of the United States District Court for the Central District of California dismissed as time-barred the Federal Deposit Insurance Corporation’s (FDIC) $31 million suit against JPMorgan...more

Orrick's Financial Industry Week in Review - April 22, 2013

by Orrick, Herrington & Sutcliffe LLP on 4/22/2013

Second Circuit Rejects Edge Act Jurisdiction in AIG RMBS Case - On April 19, the Second Circuit ruled that a lawsuit brought by American International Group (AIG) against several Bank of America entities involving...more

Bank of America Reaches Pre-Litigation Settlement with NCUA for RMBS Losses

by Orrick - Structured Finance Group on 4/10/2013

On April 2, the National Credit Union Administration (NCUA), an independent federal agency that supervises and charters federal credit unions, reached a $165 million settlement with Bank of America, stemming from BofA’s sale...more

Prudential Sues Bank of America Over $2 Billion in RMBS

by Orrick - Structured Finance Group on 3/28/2013

On March 14, several Prudential entities filed suit in the United States District Court for the District of New Jersey against several Bank of America and Merrill Lynch entities in connection with Prudential’s investments in...more

Bank of America Discloses NYAG Investigation and SEC Inquiry into RMBS Practices

by Orrick - Structured Finance Group on 3/6/2013

In its February 28, 2013 Form 10-K filed with the SEC, Bank of America disclosed that it is under investigation by the New York Attorney General over its purchase, securitization and underwriting of home loans and RMBS....more

Orrick's Financial Industry Week In Review - March 4, 2013

by Orrick, Herrington & Sutcliffe LLP on 3/4/2013

In This Issue: *Financial Industry Developments - Amendments to Fed and OCC Foreclosure Consent Orders - Fed Proposed Rule on Systemically Important Financial Market Utilities - Rating Agency...more

$193 Million RMBS Suit Against Countrywide Dismissed as Untimely

by Orrick - Structured Finance Group on 1/23/2013

On January 10, Judge Mariana R. Pfaelzer of the United States District Court for the Central District of California dismissed a $193 million suit brought by mutual fund Asset Management Fund against several Bank of America...more

Orrick's Financial Industry Week in Review - January 14, 2013

by Orrick, Herrington & Sutcliffe LLP on 1/18/2013

In This Issue: - Financial Industry Developments •CFPB Rules on Ability-to-Repay and Qualified Mortgages •Independent Foreclosure Review Settlement •CFPB Final Rules on High-Cost Mortgages •Rating Agency...more

Federal Court Narrows FDIC Lawsuit Against Countrywide

by Orrick - Structured Finance Group on 1/14/2013

On January 3, Judge Mariana R. Pfaelzer of the Central District of California ruled on motions to dismiss filed by defendants Countrywide, Bank of America, and UBS in an action brought against them by the Federal Deposit...more

German Bank Brings $546 Million RMBS Action Against Bank of America

by Orrick - Structured Finance Group on 1/10/2013

On December 14, 2012, DZ Bank, a German lender based in Frankfurt, filed a summons with notice against Bank of America Corp. in New York Supreme Court related to DZ Bank’s alleged purchase of over $546 million in RMBS....more

Pension Fund Class Action to Proceed Against Bank of America and U.S. Bancorp

by Orrick - Structured Finance Group on 12/19/2012

On December 6, Judge Katherine B. Forrest of the United States District Court for the Southern District of New York denied Bank of America and U.S. Bancorp’s motions to dismiss a suit by the Policemen’s Annuity and Benefit...more

Court Dismisses In Part RMBS Suit Against Countrywide, Dismissed In Entirety Against Bank of America

by Orrick - Structured Finance Group on 12/18/2012

On December 6, Judge Mariana Pfaelzer of the United States District Court for the Central District of California dismissed in part claims brought by several insurance companies, including Minnesota Life Insurance Company, in...more

CIFG Sues Bank of America Over RMBS Insurance Policies

by Orrick - Structured Finance Group on 12/4/2012

On November 20, CIFG sued Bank of America in Supreme Court for the State of New York concerning five financial guaranty policies issued in connection with two structured transactions backed by 22 RMBS....more

Phoenix Light SF and Other Investors Sue Bank of America Over $261 Million in RMBS

by Orrick - Structured Finance Group on 11/20/2012

On November 13, Phoenix Light SF Limited and other investors filed a summons with notice in the Supreme Court for the State of New York against Bank of America and various Countrywide affiliates....more

Royal Park Investments Sues Bank of America Over $1.6 Billion in RMBS

by Orrick - Structured Finance Group on 11/13/2012

On October 26, Royal Park Investments filed a summons with notice in New York state court against various Bank of America and Countrywide entities arising out of Royal Park’s alleged purchase of $1.568 billion in RMBS. Royal...more

Bank of America Settles Syncora RMBS Action for $375 Million

by Orrick - Structured Finance Group on 7/24/2012

On July 17, Bank of America agreed to settle a case brought in New York state court by insurer Syncora Guarantee for $375 million. The settlement also includes a transfer of assets from Syncora to Bank of America subsidiaries...more

IKB Brings Two RMBS Lawsuits Against Bank of America and Related Entities

by Orrick, Herrington & Sutcliffe LLP on 5/22/2012

On May 15, 2012, IKB Deutsche Industriebank AG and an IKB affiliate filed two lawsuits against Bank of America and related entities in the New York Supreme Court. The first, in which several Countrywide entities are also...more

Home

Legal News

Find a Lawyer

Browse Subjects

Subscribe

Pro Services

For Reporters

Bank of America › Residential Mortgage-Backed Securities