SERVICES YOU NEED Investors face an “obstacle course” of challenges in attempting to get banks to repurchase loans that failed to match their description in bond documents, Grais said bondholders said they have the power to order the trustee for the securities to start probes because the investors own 25 percent of the debt in […]

Tags: Bank of America, Bank of New York Mellon, BEAR STEARNS, countrywide, David J. Grais, Ellington Management Group LLC, Greenwich Financial Services LLC, Wells Fargo
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The model concluded that roughly one-third of the loans were for amounts that were 105 percent or more of the underlying property’s value. Roughly 5.5 percent of the loans in the pools had appraisals that were lower than they should have been. In one pool with 3,543 loans, for example, the CoreLogic model had enough […]

Tags: CoreLogic, Credit Suisse, David J. Grais, DEUTSCHE BANK, GRETCHEN MORGENSON, HERS, Home Loan Banks, investment banks, investors, Merrill Lynch, mortgage securities, San Francisco Home Loan Bank, Seattle Home Loan Bank, UBS, VP4
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SEE ALSO BOE PAPER ON ABS DISCLOSURE condocmar10 If the Bank of England wants this information, how can this court deem it irrelevant? NOTE: BOE defines investors as note-holders. information on the remaining life, balance and prepayments on a loan; data on the current valuation and loan-to-value ratios on underlying property and collateral; and interest […]

Tags: ABS Disclosure, arrangement, asymmetry of information, balance, Bank of England, bankruptcy, BEAR STEARNS, cash-flow waterfalls, countrywide, Credit Suisse, current rate, current valuation, David J. Grais, default, delinquent, descriptions, Deutsch Bank, diagrams, discovery, event, Federal Home Loan Bank of San Francisco, foreclosure, fraudulent activity, Grais and Ellsworth, Gretchen Morgenstern, interest rate, levels, LITIGATION, loan-to-value ratio, loss on sale, Merrill Lynch, Moral Hazard, mortgage backed bonds, mortgage backed securities, New York Times, noteholders, performing, portfolio, prepayments, profit on sale, qualified written request, remaining life, RMBS, sale price, subportfolio, total recoveries, triggers, value of payments in arrears
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