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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


Single purpose entity provisions in CMBS loans in the wake of Wells Fargo Bank, NA v. Cherryland Mall Ltd. P'ship, et al. (Mich. App. Dec. 27, 2011)
  • Dykema Gossett PLLC
  • USA
  • January 26 2012

This alert discusses possible "springing recourse" liability for borrowers and guarantors arising out of last month's decision in Wells Fargo Bank, NA v. Cherryland Mall Ltd. P'ship (Cherryland), decided last month by the Michigan Court of Appeals


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


Los Angeles targets trustee to clean-up housing mess
  • Reed Smith LLP
  • USA
  • July 28 2011

The People of the State of California and The City of Los Angeles are seeking to hold Deutsche Bank National Trust Company and Deutsche Bank Trust Company Americas, as trustee under hundreds of mortgaged-backed securitizations, liable for reparations on thousand of homes in the LA County area


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


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


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


The GGP bankruptcy so far: grounds for concern, sources for hope
  • Alston & Bird LLP
  • USA
  • June 8 2009

As the federal government and private markets make progress to quell economic recession and stimulate the engines of financial growth, recent headlines from the commercial real estate industry have focused on certain developments, such as the proposed changes in rating agency methodologies and the repeated false starts with the government’s TALF and PPIP programs


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 certifies RMBS investor class in IndyMac RMBS suit
  • Orrick, Herrington & Sutcliffe LLP
  • USA
  • August 27 2012

On August 17, Judge Lewis A. Kaplan of the United States District Court for the Southern District of New York certified a class of investors in an action brought by lead plaintiffs Wyoming State Treasurer and Wyoming Retirement System against several financial institutions in connection with RMBS issued by IndyMac