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Results: 1-10 of 392

2nd Cir Holds Massive Repurchase Action Time-Barred
  • Maurice Wutscher LLP
  • USA
  • December 8 2015

The U.S. Court of Appeals for the Second Circuit recently affirmed the dismissal of an action by the trustee of a residential mortgage-backed


New York federal court upholds jurisdiction over foreclosure of securitized commercial mortgage
  • Bryan Cave LLP
  • USA
  • May 23 2012

Given the historically high volume of both residential and commercial foreclosures, lenders in those states that utilize a judicial foreclosure process have often found themselves faced with significant delays


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


FDIC files three RMBS lawsuits as receiver for a Texas bank
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • August 27 2012

On August 17, the FDIC, in its capacity as receiver for Texas-based Guaranty Bank, filed three actions in Texas state court arising out of the bank’s alleged investments in 36 RMBS certificates totaling $5.4 billion in face value


Court dismisses occupancy status claims against countrywide
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • August 27 2012

On August 17, Judge Mariana R. Pfaelzer of the United States District Court for the Central District of California granted in part and denied in part the motion of Countrywide and Bank of America to dismiss an action brought by MassMutual in connection with its alleged purchase of RMBS


Amendment clause in conservation easement deed kills tax deduction, says IRS; LTA protests
  • Sirote & Permutt PC
  • USA
  • November 12 2015

On November 10, the Land Trust Alliance issued a much-welcomed letter to Karin Gross and Marc Caine of the IRS Office of the Chief Counsel. LTA is a


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


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


Michigan court holds borrower’s breach of SPE requirement in non-recourse carve-out provision of CMBS loan document results in full recourse liability for borrower and guarantor
  • Sutherland Asbill & Brennan LLP
  • USA
  • January 23 2012

The Michigan Court of Appeals recently held that a borrower’s violation of a non-recourse liability carve-out provision, which prohibited the borrower from becoming insolvent, resulted in the loan becoming fully recourse against the borrower


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