Residential Mortgage-Backed Securities are financial instruments consisting of residential mortgages pooled together to form larger more complex financial commodities.
In This Issue: April Housing Scorecard; Rating Agency Developments; New York State Court Dismisses RMBS Putback Action Against Nomura As Time-Barred; New York State Court Allows Trustee Lawsuit Against DB Structured Products...more
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
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
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
In This Issue: *Financial Industry Developments - CFTC No-Action Relief for Commodity Trader Advisor Registration - CFTC Regulations on Associated Persons of Swap Dealers and Major Swap Participants -...more
In This Issue: *Financial Industry Developments - Agencies Issue Updated Leveraged Lending Guidance - CFTC No-Action Relief from Required Clearing for Some Partial Swap Novations and Terminations - FHFA...more
In This Issue: *Financial Industry Developments - CFTC Announces the Start of Mandatory Clearing - CFTC Reminds Market Participants of Swap Data Reporting Requirements - Rating Agency Developments...more
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
In This Issue: - Financial Industry Developments •CFPB Implementation Plan for Mortgage Rules •FDIC Proposed Rule on Insured Deposits at Foreign Branches of U.S. Banks •CFPB Bulletin on Servicers'...more
In This Issue: *RMBS Litigation - Assured Wins $90 Million in Damages in RMBS Breach of Contract Trial - DOJ Brings Civil Fraud Action Against S&P - S&P Seeks Declaration That Credit Ratings Are Immune From...more
Like a low budget horror film, the Alfa v Cukurova litigation seems to have an inexhaustible supply of sequels. However, beyond a propensity for repetition, there the end of parallels to low budget horror films ends (or low...more
In This Issue: *Financial Industry Developments - SEC Extends Exemptions for Security-Based Swaps - Fed Announces Release Dates for Results of Supervisory Stress Tests and CCAR - Rating Agency Developments...more
New legal ground is expected to be broken this year in areas of importance to companies and their directors, officers and executives. We see those developments coming from around the globe and defining the litigation...more
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
It was announced on January 6, that the Basel Committee on Banking Supervision’s (BCBS) Group of Governors and Heads of Supervision (GHOS) has endorsed revised Basel III liquidity standards for banks....more
In This Issue: *Financial Industry Developments - OCC Guidance on Transition Periods under Section 716 of the Dodd-Frank Act - CFTC Reporting of Swap Transactions and Swap Dealer Registration - Department...more
On January 6, 2013, the Group of Governors and Heads of Supervision (“GHOS”), which oversees the Basel Committee on Banking Supervision (“BCBS”), approved a significantly revised version of the liquidity coverage ratio...more
In This Issue: *Financial Industry Developments - CFTC No-Action Relief for Securitizations from Commodity Pool Operator Registration - CFTC No-Action Relief for Mortgage REIT Operators from Commodity Pool...more
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