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Results: 1-6 of 6

The TIA and REMIC securitizations: one year after Policemen’s Annuity

  • Alston & Bird LLP
  • -
  • USA
  • -
  • April 4 2013

In April 2012, U.S. District Court Judge William Pauley concluded that mortgage-backed pass-through certificates issued pursuant to pooling and

RMBS “put-back” litigation: is the assured guaranty decision a game-changer?

  • Alston & Bird LLP
  • -
  • USA
  • -
  • February 11 2013

Based on a recent bellwether federal court decision, plaintiffs in mortgage loan put-back litigations may now have a roadmap to establish pool-wide

The impact of Cherryland and Chesterfield on new CMBS loan originations

  • Alston & Bird LLP
  • -
  • USA
  • -
  • May 11 2012

Two recent court decisions and a new piece of legislation from Michigan have spurred a ruckus over the relationship between the single-purpose entity (SPE)separateness covenant on solvency and the typical CMBS non-recourse carve-out guaranty

Recent decisions on non-recourse carve-outs in CMBS loans

  • Alston & Bird LLP
  • -
  • USA
  • -
  • March 19 2012

Recent court decisions in the state of MichiganWells Fargo Bank, NA v. Cherryland Mall, ____ N.W.2d _____, 2011 WL 6785393 (Mich.App. 2011) (Cherryland) in the Michigan intermediate appellate court and 51382 Gratiot Avenue Holdings Inc. v. Chesterfield Development Company, 2011 U.S. Dist. LEXIS 142404 (E.D. Mi. Dec. 12, 2011) (Chesterfield) in a federal district courthave presented lenders, master and special servicers with new considerations in enforcing their rights and remedies, but confronted borrowers and guarantors in real estate finance markets with vastly different legal liability and unexpected economic consequences than had previously been understood or thought to have been documented in CMBS mortgage transactions

Class action filed against Countrywide for loan modifications undertaken as part of settlement with 15 state attorneys general

  • Alston & Bird LLP
  • -
  • USA
  • -
  • December 3 2008

On December 1, Greenwich Financial Services Distressed Mortgage Fund 3. LLC and QED LLC filed a putative class action lawsuit on behalf of themselves and other similarly situated persons against Countrywide Financial (now a subsidiary of Bank of America) based on the modification of approximately 400,000 home mortgage loans held in some 374 securitization pools that Countrywide services

The subprime debt market fallout

  • Alston & Bird LLP
  • -
  • USA
  • -
  • January 23 2008

A new issue came to the forefront in 2007 the collapse of the subprime debt market

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