Residential Mortgage-Backed Securities Morgan Stanley

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

Orrick's Financial Industry Week In Review

Council of EU Publishes Compromise Proposal on ELTIF Regulation - On May 27, the Council of the EU published a compromise proposal (10215/14), dated May 23, 2014, in respect of the European Commission's proposed...more

Suit Against Morgan Stanley Dismissed for Lack of Standing

On April 17, Justice Eileen Bransten of the Supreme Court of the State of New York dismissed all claims in a suit brought by investment vehicle Sealink Funding Ltd. in connection with RMBS purchased from Morgan Stanley....more

Orrick's Financial Industry Week in Review

UK Government Backs "Transparency & Trust" Paper Recommendations - The UK government has published a response paper largely in agreement with the controversial "Transparency & Trust" discussion paper published by its...more

Morgan Stanley to Settle RMBS Securities Claims by the SEC for $275 Million

On February 25, Morgan Stanley disclosed that it had reached an agreement in principle with the SEC staff to pay $275 million in disgorgement and penalties in settlement of an investigation into subprime RMBS sponsored and...more

Orrick's Financial Industry Week in Review - March 3, 2014

UCITS 5 Political Agreement Reached - On February 25, the European Parliament published a press release announcing that political agreement has been reached with the Council of the EU on the proposed UCITS V Directive....more

Morgan Stanley and FHFA Reach RMBS Settlement

On February 4, Morgan Stanley disclosed in a regulatory filing that it has agreed, in principle, to a settlement for US$1.25 billion with the Federal Housing Finance Agency to resolve claims pending in the United States...more

Orrick's Financial Industry Week in Review - February 10, 2014

No-Action Letter Provides Relief to M&A Brokers - On January 31, in a significant no-action letter (Letter), the Staff of the Division of Trading and Markets provided assurances that it would not recommend enforcement...more

Judge Dismisses Federal Securities Claims from NCUA Action Against Morgan Stanley

On January 22, Judge Denise Cote of the U.S. District Court for the Southern District of New York trimmed claims from a lawsuit brought by the National Credit Union Administration Board, as liquidating agent for various...more

Morgan Stanley Wins Dismissal of Dexia’s Fraud Suit Over $626 Million in RMBS

On October 16, Justice Eileen Bransten of the Supreme Court for the State of New York dismissed a suit by FSA Asset Management LLC (FSAM) and Dexia SA/NV (with two related entities, Dexia) alleging fraud by Morgan Stanley in...more

Morgan Stanley’s Motion to Dismiss $757 Million RMBS Suit Denied in Part

On July 13, Justice Eileen Bransten of the New York Supreme Court denied Morgan Stanley’s motion to dismiss MetLife’s common law fraud and fraudulent inducement claims....more

Court Grants in Part Motions to Dismiss Allstate RMBS Lawsuits

On March 15, Judge Eileen Bransten of the Supreme Court of the State of New York granted in part and denied in part motions to dismiss brought by Merrill Lynch, Deutsche Bank and Morgan Stanley entities (together Defendants)...more

Morgan Stanley Revelations Raise The Specter Of 2008… Again

This week, The New York Times’ Dealbook dragged the specter of 2008 back into the spotlight. A piece authored by ProPublica’s Jesse Eisinger shared “explosive” revelations about what some Morgan Stanley traders knew...more

DZ Bank Files Lawsuit Against Morgan Stanley Over $694M in RMBS

On November 21, Deutsche Zentral-Genossenschaftsbank AG (DZ Bank) filed a summons with notice in Supreme Court for the State of New York against Morgan Stanley in connection with the German bank’s alleged purchase of $694...more

IKB Files Suit Against Morgan Stanley Over $147M in RMBS

On November 16, German lender IKB Deutsche Industriebank AG sued Morgan Stanley and related entities in the Supreme Court for the State of New York for $147 million in connection with the sale of RMBS....more

Morgan Stanley Sued Over $140 Million in RMBS

On August 29, Bank Hapoalim B.M. filed a summons with notice in New York state court against four Morgan Stanley entities. Bank Hapoalim alleges that offering materials accompanying the sale of eight RMBS purchased for a...more

HSH Nordbank AG Sues Goldman Sachs and Morgan Stanley Over $634 Million in RMBS

Several HSH Nordbank AG affiliates filed two summonses with notice in New York state court on August 24, seeking damages, rescission and/or a declaratory judgment arising out of their purchase of roughly $524 million and $110...more

Court Denies Morgan Stanley’s Motion to Dismiss RMBS Class Action

On July 16, Judge Laura Swain of U.S. District Court for the Southern District of New York denied Morgan Stanley’s motion to dismiss a class action suit that alleges misrepresentations and omissions in the offering documents...more

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