Flagstar Bank

News & Analysis as of

Assured and Flagstar Settle RMBS Litigation for $105 Million

On June 21, Flagstar Bancorp, Inc. announced that it reached a settlement in a lawsuit brought by Assured Guaranty Municipal Corp. arising out of nearly $1 billion in Flagstar-sponsored RMBS that Assured insured....more

MBIA and Flagstar Settle

On May 2, MBIA Insurance Corporation announced that it reached a settlement with Flagstar Bank in its lawsuit arising out of $1 billion in Flagstar-sponsored MBS that MBIA insured. MBIA sued Flagstar for breach of warranty...more

Assured Wins $90 Million in Damages in RMBS Breach of Contract Trial

On February 6, Judge Rakoff of the Southern District of New York ruled in favor of monoline insurer Assured Guarantee Municipal Corp. against Flagstar Bank FSB after presiding over a bench trial seeking damages for breach of...more

New Precedent that Holds Banks Responsible?

The legal press is abuzz with reports of a New York federal judge’s award of a $90.1 million judgment to mortgage insurer Assured Guaranty Corp. after a lengthy trial in its suit against Flagstar Bank FSB....more

MBIA Sues Flagstar Bank In Connection With Insurance Of $1 Billion in RMBS

On January 11, monoline insurer MBIA Insurance Corp. sued Flagstar Bank and its affiliates for breach of contract in the United States District Court for the Southern District of New York....more

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