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Results: 1-10 of 27

When non-recourse isn’t really non-recourse at all: the Cherryland decision full recourse enforcement of a non-recourse loan

  • Lowenstein Sandler LLP
  • -
  • USA
  • -
  • July 2 2012

The Michigan Court of Appeals recently decided a case that has garnered the attention of lenders, real estate owners, and developers nationwide

Court denies in part motions to dismiss FHFA's claims against countrywide and various underwriters

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • April 2 2013

On March 15, Judge Mariana Pfaelzer of the United States District Court for the Central District of California denied in part motions to dismiss

New Jersey federal district judge dismisses claims against UBS as untimely

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • October 10 2011

On September 29, 2011, Judge Cavanaugh of the New Jersey federal district court dismissed a class action securities suit brought against UBS by RMBS investors

Investor files suit against Nationstar over mortgage auctions

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • March 11 2013

On March 7, KIRP, LLC sued Texas-based mortgage servicer Nationstar Mortgage LLC in the Supreme Court of the State of New York in connection with

Investment in “tenancy in common” interests provided basis for securities violations

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • December 18 2009

The U.S. District Court for the District of Oregon granted summary judgment to the Securities and Exchange Commission in a securities fraud case involving a large-scale real estate securitization and management business

Class action defense cases - In Re Community Bank: Third Circuit court again reverses approval of class action settlement holding wrong legal standard applied to determine adequacy of representation

  • Jeffer Mangels Butler & Mitchell LLP
  • -
  • USA
  • -
  • October 4 2011

District court applied wrong legal standard in finding named plaintiffs and their counsel to be adequate representatives of the proposed class under Rule 23(a)(4) and thus abused its discretion in certifying class and approving nationwide class action settlement Third Circuit holds

Court invalidates foreclosures based on ineffective mortgage assignments

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • March 11 2011

A recent court decision held that a foreclosure in Massachusetts that a clear chain of title must be established to show that the party foreclosing is the valid holder of the mortgage. Although the decision is binding only in Massachusetts, the case illustrates the importance for lenders and securitisation trustees of understanding state foreclosure laws and hold all relevant documents before entering foreclosure proceedings

Certificate holder's bid to intervene in stuy-town foreclosure shot down

  • Lowenstein Sandler LLP
  • -
  • USA
  • -
  • July 6 2010

Judge Alvin Hellerstein of the US District Court for the Southern District of New York has shot down an investor's bid to intervene in a special servicer's foreclosure proceedings over New York's Stuyvesant Town and Peter Cooper Village housing complexes in order to protect its investment of approximately $750 million in securities backing a $3 billion mortgage taken down to finance the acquisition of the lower Manhattanbased assets

Massachusetts' highest court invalidates residential foreclosures on a technical basis

  • Ballard Spahr LLP
  • -
  • USA
  • -
  • January 13 2011

A recent opinion by the Massachusetts Supreme Judicial Court, although seemly very fact-driven, raises great uncertainty as to other foreclosures in that Commonwealth and, perhaps, elsewhere in the country

California appellate court directs dismissal of homeowner-borrowers' fraudulent concealment claim against Countrywide in connection with sale of RMBS

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • September 6 2011

On August 24, 2011, the California Court of Appeal directed the dismissal of claims against Countrywide Financial Corp. brought by a group of homeowner-borrowers