News & Analysis as of

Settlement Residential Mortgage-Backed Securities

Orrick, Herrington & Sutcliffe LLP

8th Circuit affirms almost $20 million in damages and attorney’s fees in RMBS action

On February 2, the U.S. Court of Appeals for the Eighth Circuit affirmed a district court order requiring a mortgage lender to pay $5.4 million in damages and $14 million in attorney’s fees for selling mortgages that did not...more

Bilzin Sumberg

RMBS Litigation Relating to Loans Sold Prior to 2008: Are We Finally Nearing The End?

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The years since the 2007–2008 financial crisis have been marked with milestone settlements of claims against the major mortgage “aggregators” (sometimes also known as “investors” in the mortgage purchasing context), who then...more

Robins Kaplan LLP

Financial Daily Dose 8.19.2019 | Top Story: US Weighing Huawei Reprieve to Smooth Trade Talks with China

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The White House is reportedly extending the temporary license for some US businesses to work with Huawei, a move that would likely help smooth the way for trade negotiators between the US and China to see their way back to...more

ArentFox Schiff

Investigations Newsletter: Hospital to Pay Over $2 Million to Settle Alleged False Claims Act Violations

ArentFox Schiff on

DOJ News & Litigation Updates - ITT Cannon to Pay $11 Million to Settle False Claims Allegations - ITT Cannon (ITT), a division of ITT Inc., has agreed to pay $11 million to settle whistleblower claims that it supplied...more

Orrick - Finance 20/20

Royal Park and Wells Fargo Reach Settlement in RMBS Litigation

Orrick - Finance 20/20 on

On January 14, U.S. District Judge Katherine Polk Failla of the Southern District of New York granted a joint request from plaintiff certificateholder Royal Park Investments SA/NV and defendant trustee Wells Fargo Bank NA to...more

Orrick - Finance 20/20

Deutsche Bank Settles Two BlackRock RMBS Suits

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Deutsche Bank settled with BlackRock and other RMBS investors in New York federal (BlackRock Balanced Capital Portfolio (Fi) v. Deutsche Bank National Trust Company, S.D.N.Y., No. 1:14-cv-09367) and California state...more

Orrick - Finance 20/20

Nomura Settles DOJ RMBS Claims for $480 Million

Orrick - Finance 20/20 on

Nomura Holdings, Inc. (“Nomura”) and its U.S. affiliates agreed to pay $480 million to resolve claims brought by the United States Department of Justice (“DOJ“) for alleged misrepresentations in connection with RMBS offerings...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Dealbook gives us this uncomfortable take on China’s “nuclear option” in the trade war with the United States—its holdings of more than $1 trillion in US foreign debt and the possibility of stepping back from buying (or even...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

U.S. Financial Industry Developments - CFTC Proposes Rules to Simplify Process for Foreign Clearing Organizations to Obtain DCO Registration Exemption - On August 8, 2018, the Commodity Futures Trading Commission (CFTC)...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

The rise of tariffs as a trade weapon has put the WTO in a very difficult position as “chief judge in an intense fight among its most powerful members”....more

Bilzin Sumberg

Chase Lets Loose a Barrage of New Indemnification Demand Letters

Bilzin Sumberg on

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

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Coach is looking to appeal to a younger generation (hint, big sales running nearly all the time would help), and it’s decided that buying is the way to go, announcing yesterday that it’s snapping up Kate Spade for $2.4...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Financial Industry Developments - SEC Adopts T+2 Settlement Cycle for Securities Transactions - On March 22, 2017, the Securities and Exchange Commission (SEC) adopted an amendment to Rule 15c6-1(a), shortening the...more

Burr & Forman

Moody’s Settles RMBS/CDO Ratings Claims with DOJ, States

Burr & Forman on

After markets closed on Friday the 13th, the U.S. Department of Justice (“DOJ”) announced an $864 million settlement regarding Moody’s credit ratings of residential mortgage-backed securities (“RMBS”) and collateralized debt...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Financial Industry Developments - CTFC Approves Re-Proposal of Position Limits Regulation - On December 5, 2016, the U.S. Commodity Futures Trading Commission ("CFTC") unanimously approved to re-propose rules that...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

Council of EU Adopts Regulation Extending Exemptions for Commodity Dealers under CRR - On May 30, 2016, the Council of the EU published a press release confirming that it has adopted a Regulation amending the Capital...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

No-Action Letter Issued Regarding the OCR Final Rule - On April 8, the U.S. Commodity Futures Trading Commission's ("CFTC") Division of Market Oversight issued a no-action letter regarding the ownership and control final...more

Orrick - Finance 20/20

RMBS Trustee Seeks Court Guidance on Distribution of Settlement Proceeds

Orrick - Finance 20/20 on

On February 5, 2016, the Bank of New York Mellon (“BNY Mellon”), in its capacity as trustee of 530 RMBS trusts, filed an Article 77 petition with the Supreme Court of the State of New York requesting instruction as to how it...more

Orrick - Finance 20/20

Eleven Banks Reach Settlement with Commonwealth of Virginia on RMBS Claims

On Friday, January 22, 2016, eleven banks, including Merrill Lynch, RBS, and Barclays, agreed to settle claims brought by the Commonwealth of Virginia in a 2014 action alleging misrepresentations as to the nature, quality,...more

Orrick - Finance 20/20

Ambac and J.P. Morgan Reach $995M RMBS Settlement

On Monday, January 25, 2016, monoline insurer Ambac Assurance Corporation (“Ambac”) reached a $995 million settlement with J.P. Morgan, resolving two RMBS actions pending before Justice Ramos in the Supreme Court of the State...more

Orrick - Finance 20/20

Trustees Seek Approval of $4.5 Billion Settlement

Orrick - Finance 20/20 on

On January 20, trial commenced before Justice Marcy Friedman in New York County Supreme Court to determine whether Deutsche Bank, U.S. Bank, and the other trustees of 330 RMBS trusts acted reasonably when they reached a $4.5...more

Orrick - Finance 20/20

Morgan Stanley Settles RMBS Suits With NCUA

Orrick - Finance 20/20 on

On December 10, 2015, the National Credit Union Administration (“NCUA”) announced Morgan Stanley’s agreement to pay $225 million to settle litigation brought in New York and Kansas federal courts by NCUA as liquidating agent...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

SEC Proposes to Amend Rules Governing Its Administrative Proceedings - On September 24, the U.S. Securities and Exchange Commission (the "SEC") proposed to amend rules governing its administrative proceedings. Key...more

Orrick - Finance 20/20

Bank of America and Midland Settle RMBS Litigation

Orrick - Finance 20/20 on

On September 8, 2015, Bank of America NA and Midland Loan Services settled Bank of America’s lawsuit seeking a declaratory judgment that it did not breach the representations and warranties in connection with a CMBS...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

CFTC Issues Proposed Amendments to Swap Data Recordkeeping and Reporting Requirements for Cleared Swaps - On August 19, The U.S. Commodity Futures Trading Commission (CFTC) proposed amendments to existing rules relating...more

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JD Supra Privacy Policy

Updated: Dec 28, 2021:

JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.

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Links to Other Websites

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Information for EU and Swiss Residents

JD Supra's principal place of business is in the United States. By subscribing to our website, you expressly consent to your information being processed in the United States.

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You can make a request to exercise any of these rights by emailing us at privacy@jdsupra.com or by writing to us at:

Privacy Officer
JD Supra, LLC
150 Harbor Drive, #2760
Sausalito, CA 94965

You can also manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard.

We will make all practical efforts to respect your wishes. There may be times, however, where we are not able to fulfill your request, for example, if applicable law prohibits our compliance. Please note that JD Supra does not use "automatic decision making" or "profiling" as those terms are defined in the GDPR.

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California Privacy Rights

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You can make a request for this information by emailing us at privacy@jdsupra.com or by writing to us at:

Privacy Officer
JD Supra, LLC
150 Harbor Drive, #2760
Sausalito, CA 94965

Some browsers have incorporated a Do Not Track (DNT) feature. These features, when turned on, send a signal that you prefer that the website you are visiting not collect and use data regarding your online searching and browsing activities. As there is not yet a common understanding on how to interpret the DNT signal, we currently do not respond to DNT signals on our site.

Access/Correct/Update/Delete Personal Information

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Changes in Our Privacy Policy

We reserve the right to change this Privacy Policy at any time. Please refer to the date at the top of this page to determine when this Policy was last revised. Any changes to our Privacy Policy will become effective upon posting of the revised policy on the Website. By continuing to use our Website and Services following such changes, you will be deemed to have agreed to such changes.

Contacting JD Supra

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Updates to This Policy

We may update this cookie policy and our Privacy Policy from time-to-time, particularly as technology changes. You can always check this page for the latest version. We may also notify you of changes to our privacy policy by email.

Contacting JD Supra

If you have any questions about how we use cookies and other tracking technologies, please contact us at: privacy@jdsupra.com.

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