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14 Aug 2017, 2:15 pm by Thomas Kidera
District Court for the Southern District of New York, claiming that DBNTC—in its capacity as RMBS Trustee for ten trusts—is improperly using trust proceeds to finance its defense against separate litigation, brought by the same Plaintiff, alleging that DBNTC breached its duties as RMBS Trustee. [read post]
28 Oct 2021, 11:00 pm
The SPC affirmed a ruling issued by the Guangzhou Intellectual Property Court in 2020, but increased the remittance from 600 thousand RMB to 2.7 million RMB. *** Supreme People’s Court Issues Guidance on Patent Scope of Protection in View of Specification An administrative patent dispute involving Apple Shanghai, Apple Beijing, inventors Ren Xiaoping and Sun Jie, and the CNIPA has resulted in new guidance from the SPC regarding the scope of protection offered by the claims… [read post]
30 Mar 2015, 10:55 am by Paul Rugani
  Capital Ventures had sued UBS for alleged violations of the Massachusetts Uniform Securities Act in connection with $131 million in RMBS that Capital Ventures allegedly purchased from UBS. [read post]
11 Nov 2013, 12:45 pm by Editorial Board
  Wells Fargo noted that Fannie Mae and Freddie Mac had opted out of a class settlement approved in 2011 in a suit alleging misstatements in the offering documents for the RMBS securitizations. [read post]
6 Jan 2014, 12:43 pm by Editorial Board
On December 20, the Federal Housing Finance Agency announced it had reached a settlement for $1.925 billion with Deutsche Bank AG to resolve claims pending in the United States District Court for the Southern District of New York related to the sale of private-label RMBS between 2005 and 2007. [read post]
22 Jul 2008, 11:00 am
A short while ago I reported an interesting story about a foreign investment deal that ran into problems because the approval authorities thought the foreign acquirers were paying too much. [read post]
30 Jul 2012, 8:12 am by Editorial Board
The underlying FHFA complaint alleges that defendants (including Ally Financial, Ally Securities, and GMAC Mortgage) made false or misleading statements or omissions in the offering materials for $6 billion worth of RMBS. [read post]
17 Nov 2009, 3:26 pm by Cailie Currin
The NAIC announced late today that PIMCO has been selected as the third party financial modeler to assist state regulators in their determination of the risk based capital (RBC) requirements for residential mortgage-backed securities (RMBS). [read post]
19 Apr 2007, 7:38 pm
Earlier this week, it was announced that Johnson & Johnson had reached a deal on March 27 to acquire the Chinese cosmetics company DaBao (English site) for 2.3 billion RMB (300 million USD). [read post]
7 Aug 2013, 8:27 am by Mark Astarita
  These risks all directly impact the returns to RMBS investors, however Bank of America only selectively disclosed the percentage of wholesale channel loans to a limited group of institutional investors. [read post]
23 Jun 2014, 10:46 am by Editorial Board
On June 17, New York’s Appellate Division, First Department intermediate appellate court affirmed the denial of Merrill Lynch’s motion to dismiss a repurchase suit brought by two RMBS Trusts. [read post]
26 May 2015, 10:42 am by Jennifer Lee
On May 16, 2015, Judge Denise Cote of the United States District Court for the Southern District of New York entered a judgment requiring Nomura and RBS to buy back, at a total cost of $806 million, seven RMBS certificates sold to Fannie Mae and Freddie Mac from 2005 to 2007. [read post]
8 Dec 2009, 5:39 am
On December 2, 2009, the NAIC Valuation of Securities (E) Task Force adopted final assumptions (the Assumptions”) for the financial model used in determining risk based capital (“RBC”) for insurer owned residential mortgage-backed securities (“RMBS”).The Assumptions came in response to complaints from insurers that national securities ratings agencies were valuing their holdings at too low a rate, consequently, requiring such insurers to maintain more capital… [read post]
10 Aug 2015, 9:32 am by Shasha Zou
On July 30, 2015, District Judge Denise Cote of the Southern District of New York denied GE Mortgage Holding LLC’s (“GEMH”) motion for summary judgment in a repurchase action brought by the RMBS Trustee for the GE-WMC 2006-1 Trust. [read post]
30 Mar 2015, 10:45 am by Paul Rugani
On March 24, Judge Laura Taylor Swain of the United States District Court for the Southern District of New York granted Defendants’ motion to dismiss an action filed by the FDIC, as receiver for two failed banks, related to RMBS certificates that the banks purchased. [read post]
19 Oct 2015, 1:26 pm by Elizabeth J. Elias
On October 8, Fitch published a report clarifying the application of its United Kingdom RMBS criteria during the ongoing consultation period. [read post]