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Results: 1-10 of 42

Securitization trust prohibited from enforcing mortgage note

  • Winston & Strawn LLP
  • -
  • USA
  • -
  • December 6 2010

On November 17th, a federal bankruptcy court denied a proof of claim against a bankrupt homeowner brought by the trustee for the securitization pool that owned the mortgage note

Class certification denied in securitization case

  • Winston & Strawn LLP
  • -
  • USA
  • -
  • January 24 2011

On January 18th, the U.S. District Court for the Southern District of New York denied class certification in a mortgage-backed securities offering fraud case

District court proceedings stayed while SEC appeals judge's refusal to approve proposed Citigroup settlement

  • Winston & Strawn LLP
  • -
  • USA
  • -
  • January 3 2012

On December 27th, the Second Circuit granted the SEC's emergency motion to stay the district court proceedings in its case against Citigroup concerning a collateralized debt obligation

Securitization note holders prevail in interpleader action

  • Winston & Strawn LLP
  • -
  • USA
  • -
  • June 7 2010

On June 1st, the Second Circuit discussed the respective rights of the note holders in a failed credit card securitization, and the FDIC as receiver of the failed issuing bank

FINRA proposes inclusion of ABS in TRACE

  • Winston & Strawn LLP
  • -
  • USA
  • -
  • October 5 2009

On October 1st, the Financial Industry Regulatory Authority proposed the expansion of its Trade Reporting and Compliance Engine to include all asset-backed securities, including mortgage-backed securities and collateralized debt obligations

FDIC proposes safe harbor protections for securitizations

  • Winston & Strawn LLP
  • -
  • USA
  • -
  • January 11 2010

On January 7th, the FDIC issued an Advance Notice of Proposed Rulemaking regarding safe harbor protection for treatment by the FDIC as conservator or receiver of financial assets transferred by an insured depository institution in connection with a securitization or participation

FINRA proposes amendments relating to post-trade transparency for Agency Pass-Through Mortgage-Backed Securities traded TBA

  • Winston & Strawn LLP
  • -
  • USA
  • -
  • December 12 2011

On December 2nd, the SEC provided notice of the Financial Industry Regulatory Authority's proposed amendments to the Rule 6700 Series (the Trade Reporting and Compliance Engine ("TRACE") rules), which are designed to provide greater transparency for transactions in Agency Pass-Through Mortgage-Backed Securities traded on a "to be announced" basis ("TBA transactions"

TALF and non-mortgage ABS: formal risk assessment and expansion of credit rating agency eligibility

  • Winston & Strawn LLP
  • -
  • USA
  • -
  • October 9 2009

On October 5, 2009, the Federal Reserve Board (the "Board") announced changes to the Term Asset-Backed Securities Loan Facility ("TALF"), which is maintained by the Federal Reserve Bank of New York ("FRBNY") as authorized on November 24, 2008, and is intended to aid market participants in meeting the credit needs of investors in highly rated asset-backed securities ("ABS"

Massachusetts Attorney General rejects broad settlement release

  • Winston & Strawn LLP
  • -
  • USA
  • -
  • August 1 2011

On July 25th, Bloomberg reported that the Massachusetts Attorney General said she will not support a global home foreclosure procedures settlement if it includes a release of claims for the banks' securitization practices or relationship with Mortgage Electronic Registration Systems ("MERS"

Agency pass-through MBS

  • Winston & Strawn LLP
  • -
  • USA
  • -
  • November 19 2012

On November 13th, the Financial Industry Regulatory Authority ("FINRA") noted that on November 12, 2012, the amendments to the FINRA Rule 6700 Series and TRACE dissemination protocols regarding the reporting and dissemination of transactions in TRACE-eligible securities that are agency pass-through mortgage-backed securities that are traded to be announced ("TBA") became effective