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Results: 1-10 of 378

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 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


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


Editorial: banks can fight buyback claims with a little help from BoFA
  • Bilzin Sumberg Baena Price & Axelrod LLP
  • USA
  • September 26 2014

Bank of America took a big hit when it reached a record-breaking $16.65 billion mortgage settlement with the United States Department of Justice in


What matters: A review of 2011 and 2012
  • Kramer Levin Naftalis & Frankel LLP
  • USA
  • April 1 2013

As you know, the last two years have seen a somewhat improved, but by no means robust, business climate. At the same time, structural shifts in the


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


Allstate sues Merrill Lynch and Credit Suisse for fraud
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • March 7 2011

On February 28, 2011, Allstate Insurance, represented by Quinn Emanuel, filed complaints against Merrill Lynch and Credit Suisse affiliated entities in New York state court in connection with Allstate's purchase of RMBS from those entities


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


GGP: single purpose entity or all in the corporate family?
  • Alston & Bird LLP
  • USA
  • August 25 2009

On August 11, 2009, in a long-anticipated ruling in the Chapter 11 case of General Growth Properties, Inc. (GGP), the court denied the motions to dismiss that had been brought on behalf of several of the property-level lenders


California federal court partially dismisses RMBS claims in Countrywide MDL action
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • April 23 2012

On April 16, 2012, Judge Mariana R. Pfaelzer of the Central District of California dismissed in part an RMBS action brought by Massachusetts Mutual Life Insurance Co. (“MassMutual”) against Countrywide, JPMorgan, Deutsche Bank, UBS, and various individual defendants