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11 Feb 2013, 6:57 am by Editorial Board
On February 4, the Department of Justice filed a complaint in the Central District of California against two Standard & Poor’s entities in connection with credit ratings S&P provided for certain RMBS and CDOs. [read post]
11 Feb 2013, 6:55 am by Editorial Board
  Flagstar, a loan originator and RMBS sponsor, contracted for Assured to provide bond insurance on two securitizations of home equity loans totaling approximately $900 million. [read post]
11 Feb 2013, 12:45 am by Kevin LaCroix
The DoJ complaint quotes one internal May 2004 e-mail as saying:   We just lost a huge Mizhuo RMBS deal to Moody’s due to a huge difference in the required credit support level. [read post]
6 Feb 2013, 11:15 am by Anna Kloeden
In addition to acknowledging the domestic violence, the court ordered Li Yang to pay 50,000 RMB [approximately $8000] in compensation, and a further $1.9 million as part of the divorce. [read post]
6 Feb 2013, 5:00 am by Doug Cornelius
Finally, in July, 2007, S&P downgrades 612 classes of RMBS, totaling $12 billion in securities. [read post]
6 Feb 2013, 5:00 am by Doug Cornelius
Finally, in July, 2007, S&P downgrades 612 classes of RMBS, totaling $12 billion in securities. [read post]
4 Feb 2013, 7:31 am by Editorial Board
  In both actions, Bank Hapoalim alleges that the offering documents for RMBS it purchased contained material misrepresentations and omissions concerning the underwriting standards for the mortgages underlying the securities, the transfer of mortgage loans, the legal validity of the trusts, and the statistical information about the mortgage loans underlying the securities. [read post]
4 Feb 2013, 7:29 am by Editorial Board
On January 24, Impac Funding Corp. settled a lawsuit brought by Citigroup Global Markets Inc. alleging violations of Sections 18 and 20 of the Securities Exchange Act and negligent misrepresentation based on alleged misstatements in the Pooling and Servicing Agreement for an RMBS trust. [read post]
4 Feb 2013, 7:27 am by Editorial Board
  The Trustee alleges that Deutsche Bank breached representations and warranties regarding originator underwriting standards applied to the loans underlying the RMBS, no misrepresentation or fraud in the origination of the loans, and no material defects in the loans. [read post]
29 Jan 2013, 8:20 am by Dan Harris
At the bank, RMB must be converted to U.S. dollars or some other convertible currency. [read post]
28 Jan 2013, 8:49 am by Editorial Board
  On January 28, Howard Altarescu will be speaking on a panel regarding the Private Label RMBS Sector. [read post]
22 Jan 2013, 7:17 am by Editorial Board
  On January 28, Howard Altarescu will be speaking on a panel regarding the Private Label RMBS Sector. [read post]
22 Jan 2013, 7:08 am by Editorial Board
  MBIA alleges that it insured $1 billion in RMBS for Flagstar in 2006 and 2007. [read post]
22 Jan 2013, 7:06 am by Editorial Board
  The court granted Asset Management Fund leave to replead as to the $10 million purchase of RMBS it allegedly made after March 1, 2007. [read post]
14 Jan 2013, 8:30 am by Editorial Board
  On January 28, Howard Altarescu will be speaking on a panel regarding the Private Label RMBS Sector. [read post]
14 Jan 2013, 8:20 am by Editorial Board
  Judge Rakoff granted plaintiffs leave to amend their claims involving RMBS sponsored by Deutsche Bank. [read post]
10 Jan 2013, 7:34 pm by Scott Livingston
 Four employees involved in the illegal purchase were also sentenced to up to two years in jail and each fined between RMB $5,000 to RMB $10,000 (US $800 to $1600).The Shanghai court’s decision, though not yet publicly released, appears to be based on a 2009 amendment of the PRC Criminal Law that created Article 253(a), which criminalizes the act of an entity or individual in certain industries obtaining, providing, or selling a citizen’s personal information. [read post]
7 Jan 2013, 2:08 pm by Editorial Board
  Woori alleged that defendants knowingly marketed CDOs based on RMBS that had a greater risk than their ratings suggested, and that RBS fraudulently and negligently induced Woori to buy those CDOs. [read post]