Residential Mortgage-Backed Securities Countrywide

Residential Mortgage-Backed Securities are financial instruments consisting of residential mortgages pooled together to form larger more complex financial commodities.
News & Analysis as of

For Whom The Statute Tolls? A California Court Refuses Equitable Tolling For RMBS Claims

A recent decision dismissing an RMBS lawsuit in the Los Angeles County Superior Court highlights the critical importance of filing your claims in the correct court whenever there is a jurisdictional issue....more

Bank of America Foreign Exchange and Mortgage Practices Under Investigation

On Tuesday, Bank of America disclosed in its annual report with the US Securities and Exchange Commission (SEC) that “government regulators” in North America, Europe and Asia are investigating its foreign exchange and...more

Court Denies BofA’s Motion to Reconsider Use of FHFA Documents Produced in Other RMBS Litigation

On February 14, Judge Denise Cote of the United States District Court for the Southern District of New York denied Bank of America’s request to reconsider the court’s earlier order disallowing use of documents produced by...more

Business Litigation Report -- June 2013

In This Issue: - Three Landmark Decisions for Insurers and RMBS Investors - Shedding Light on a Bankruptcy Safe Harbor: Defining the Reach of Section 546(e) - Practice Area Updates: ..Patent...more

Three Landmark Decisions for Insurers and RMBS Investors

Quinn Emanuel recently secured landmark rulings for its client MBIA Insurance Corporation (“MBIA”) in three major decisions in MBIA’s long-running lawsuit against Countrywide Home Loans, Inc. (“Countrywide”), various...more

May 2013: Insurance Litigation Update - Insurer Prevails on Standards for Loss Causation.

On April 2, 2013, the New York Supreme Court, Appellate Division, First Department issued its decision in MBIA Insurance Corp. v. Countrywide Home Loans et al., No. 602825/2008. The decision is significant for insurers,...more

Credit Crunch Digest -- May 2013

This issue of the Credit Crunch Digest focuses on recent developments in alleged Libor rate manipulation litigation; settlements in two mortgage-backed securities lawsuits; potential actions by state attorney generals...more

Orrick's Financial Industry Week In Review - June 3, 2013

In This Issue: CFPB Final Rule Amendments to Ability to Repay and QM Rule; Extension of Loan Modification Programs; Freddie Mac $1 Billion Performing Modified Loan Securitization; FinCEN Guidance on Virtual Currency...more

Court Issues Summary Judgment Ruling in MBIA’s RMBS Action Against Countrywide

On April 29, Justice Eileen Bransten of the New York State Supreme Court issued an opinion granting in part and denying in part competing motions for summary judgment filed by MBIA and Countrywide in connection with tort and...more

Orrick's Financial Industry Week in Review - April 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

Court Denies in Part Motions to Dismiss FHFA’s Claims Against Countrywide and Various Underwriters

On March 15, Judge Mariana Pfaelzer of the United States District Court for the Central District of California denied in part motions to dismiss brought by Countrywide, various individuals and various underwriters in...more

$193 Million RMBS Suit Against Countrywide Dismissed as Untimely

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

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

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

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

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

Countrywide’s Dilemma

How can Countrywide/B of A even keep a straight face when it argues that correspondent lenders need to pay it outrageous amounts of money to settle claims for actual or potential losses?...more

Multiple Plaintiffs Drop RMBS Suits Against Countrywide

On October 19, Judge Mariana R. Pfaelzer of the Central District of California dismissed with prejudice four cases against Countrywide Financial Corp., and related entities, pursuant to stipulations among the parties....more

FDIC’s Countrywide RMBS Action Transferred to MDL in Central District of California

On August 3, Judge John G. Heyburn II of the Judicial Panel on Multi-District Litigation denied plaintiff Federal Deposit Insurance Corporation’s motion to vacate the court’s order transferring the FDIC’s action to the...more

18 Results
|
View per page
Page: of 1