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23 Nov 2009, 1:16 am
As I have previously discussed on this blog, the rating agencies have proven to be a popular target for investors angry about losses they sustained on mortgage-backed securities and other investments following the subprime meltdown. [read post]
22 Nov 2009, 9:18 am
• The Federal Deposit Insurance Corporation announced that 124 banks have now been closed this year. [read post]
9 Nov 2009, 1:33 am
With respect to the knowledge element, the court found that the complaint adequately alleged that the Rating Agencies knew that even though the high ratings assigned to the notes made the notes appear as safe as corporate bonds, the SIV portfolio that backed the notes consisted of high risk mortgage-backed securities. [read post]
6 Nov 2009, 1:52 am
Background NAB involved claims on behalf of a class of foreign purchasers of stock in NAB, an Australian corporation, on foreign exchanges. [read post]
5 Nov 2009, 8:16 am
He also focused resources on areas like mortgage fraud. [read post]
4 Nov 2009, 1:49 am
It is probably worth noting that another significant corporate investor in the Financial Guaranty Insurance Corporation, The Blackstone Group, has also been sued in a subprime-related class action lawsuit in connection with the company’s write-down of its investment in bond insurer, about which refer here. [read post]
26 Oct 2009, 2:22 pm
Cooperating Witness Rajaratnam allegedly obtained nonpublic corporate information from a ring that included a cooperating witness. [read post]
26 Oct 2009, 5:38 am
Over 75% of Capmark's outstanding common stock is held by GMACCH Investor LLC, which is in turn owned by affiliates of Kohlberg Kravis Roberts & Co. [read post]
25 Oct 2009, 10:18 am
• Freddie Mac announced that delinquencies continued to rise in its mortgage portfolio last month. [read post]
23 Oct 2009, 9:53 am
Only two business days later, however, Moody's Investor Services, Investors Service downgraded U.S. [read post]
21 Oct 2009, 3:03 am
Background Dynex was in the business of packaging mortgage loans into securities. [read post]
20 Oct 2009, 3:27 pm
In June, the SEC filed civil fraud charges against Angelo Mozilo, who founded the onetime mortgage giant Countrywide Financial Corp. [read post]
19 Oct 2009, 11:31 pm
It tells Fannie and Freddie which mortgages to subsidize. [read post]
19 Oct 2009, 2:56 am
There may well be more of this type of shareholder or investor driven "commercial mortgage disclosure" litigation ahead, as commercial mortgage defaults continue to emerge in the months ahead. [read post]
18 Oct 2009, 2:41 am
" The loan was used by Compass to acquire the assets of USA Commercial Mortgage Company in an earlier bankruptcy case through a section 363 sale. [read post]
16 Oct 2009, 2:55 am
Click here to go to www.nylj.com
Trust for the Certificate Holders of the Merrill Lynch Mortgage Investors Inc. v. [read post]
15 Oct 2009, 5:00 am
The primary materials for this post are available on the DU Corporate Governance website. [read post]
13 Oct 2009, 1:35 am
" Ultimately, funds run by Tannin and Cioffi cratered, costing investors $1.6 billion. [read post]
7 Oct 2009, 1:23 am
The Nomura action is only one of many securities lawsuits that investors have brought against the securitizers that aggregated mortgages into pools that issued mortgage-backed securities. [read post]
5 Oct 2009, 10:55 am
CPC announced the program together with government chartered mortgage investor Freddie Mac, City and State public employee pension funds, several private financial institutions with Deutsche Bank acting as agent bank, State and City government agencies and utility companies. [read post]