If you thought we were finally done with indemnification litigation focused on residential mortgages originated before the financial crisis of 2007-2008, think again. Over the past year, the Federal Deposit Insurance...more
One would think that, as we approach 2021, litigation related to residential mortgage loans originated and sold well over a decade ago would be ancient history. Nevertheless, some suits filed years ago remain active, and,...more
As originators and brokers of mortgage loans continue to get served with new lawsuits (or threatened with potential suits) related to loans that they conveyed to aggregators prior to the financial crisis of 2008, questions...more
2/13/2019
/ Appeals ,
Breach of Contract ,
Contract Disputes ,
Financial Crisis ,
Financial Services Industry ,
Indemnification ,
Misrepresentation ,
Mortgage Brokers ,
Mortgage Loan Aggregators ,
Mortgage Loan Originators ,
Mortgages ,
Real Estate Transactions ,
Repurchases ,
Statute of Limitations
Ten years after the financial crisis, mortgage companies and regional/local banks are still getting hit with new breach of contract and indemnification claims related to loans sold before the crisis....more
4/30/2018
/ Consumer Financial Products ,
Consumer Lenders ,
Demand Letter ,
Financial Services Industry ,
Indemnification ,
Institutional Investors ,
JPMorgan Chase ,
Mortgages ,
RMBS ,
Securities Fraud ,
Settlement
On March 8, the Bankruptcy Court for the Southern District of New York concluded a lengthy “claims estimation” trial to determine the appropriate final settlement price for a resolution of lawsuits filed on behalf of...more
Here is a situation that comes up quite a bit in the world of business contracts containing indemnification provisions, and in the insurance industry as well. First, a party (“Party A”) gets sued, or threatened with a suit,...more
Thousands of mortgage lenders across the country either recently received, or will soon be receiving, this document from Lehman Brothers Holdings, Inc. (LBHI). It is a notice of a motion to approve a proposed settlement of...more
5/24/2017
/ Banking Sector ,
Commercial Bankruptcy ,
Fannie Mae ,
Freddie Mac ,
Indemnification ,
Lehman Brothers ,
Mortgage Lenders ,
Mortgages ,
Popular ,
Repurchases ,
RMBS ,
Settlement Offer
Six victories that clients of ours had won over Lehman and Aurora in the U.S. District Court for the District of Colorado got affirmed on January 27 by the Tenth Circuit Court of Appeals in Denver after hotly-contested rounds...more
According to a report released Tuesday by Fannie Mae, the big banks who love to act like “injured innocents” when it comes to making mortgage repurchase and indemnification demands on loan originators had their own...more