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Results: 1-10 of 49

Bankruptcy Court determines that TBA contracts do not qualify as customer claims

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • December 16 2011

The United States Bankruptcy Court for the Southern District of New York issued a memorandum decision in the Lehman Brothers Inc. (LBI) liquidation proceeding confirming the LBI trustee’s determination that certain claims relating to TBA contracts do not qualify as customer claims against LBI’s estate

LSTA to publish revised trade documentation, including biso provisions, effective September 9

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • September 8 2011

The Loan Syndications and Trading Association (LSTA) is publishing a revised set of documents for distressed transactions, as well as a revised ParNear Par Trade Confirmation, effective for trades entered into on and after September 9, 2011

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

LSTA publishes revised documents effective August 6, 2010

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • August 9 2010

The Loan Syndications and Trading Association (LSTA) has released new forms of Purchase and Sale Agreement, Proceeds Letter, Distressed Trade Confirmation and ParNear Par Trade Confirmation, effective for trades entered into on or after August 6, 2010

SEC approves reporting of asset-backed securities transactions to TRACE

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • April 30 2010

Beginning February 14, 2011, firms must report asset- and mortgage-backed securities transactions to the Trade Reporting and Compliance Engine (TRACE

FDIC sells equity interest in loans

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • April 9 2010

On April 1, the Federal Deposit Insurance Corporation (FDIC) closed the sale of an equity interest in a limited liability company (LLC) created to hold certain assets transferred from 19 failed bank receiverships

Revised TALF documents issued by NY Federal Reserve

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • January 22 2010

On January 15, the Federal Reserve Bank of New York (NY Fed) issued revised versions of its Term Asset-Backed Securities Loan Facility (TALF) documents and forms and TALF frequently asked questions (FAQs

House Committee marks up legislation, will hold hearings on securitization and systemic risk

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • October 16 2009

On October 14, the House Financial Services Committee (HFSC) held a session to mark up the Over-the-Counter Derivatives Markets Act of 2009, the Consumer Financial Protection Agency Act of 2009, H.R. 3763 (which amends the Fair Credit Reporting Act to provide certain businesses with an exclusion from “red flag” guidelines), and H.R. 3639 (to expedite the Credit Card Accountability, Responsibility and Disclosure Act Reform for Consumer Act of 2009

Federal Reserve announces TALF rating agency rule and begins ABS risk assessments

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • October 9 2009

On October 5, the Federal Reserve Board announced two changes to the procedures for evaluating asset-backed securities (ABS) pledged to the Term Asset-Backed Securities Loan Facility (TALF

Federal Reserve and Treasury extend TALF program through June 2010

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • August 17 2009

On August 17, the Federal Reserve Board and the Treasury Department announced that the expiration date of the Term Asset-Backed Securities Loan Facility (TALF) will be extended to March 31, 2010, for newly issued asset-backed securities (ABS) and legacy commercial mortgage-backed securities (CMBS), and to June 30, 2010, for newly issued CMBS

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