Posts belonging to Category Commercial Mortgage Backed Securities
Posted by Page PerryonJune 21, 2011
The National Credit Union Administration (“NCUA”) has filed suit against J.P. Morgan Chase and Royal Bank of Scotland seeking to recover more than $800 million in failed credit unions’ losses in residential mortgage-backed securities, and expects to file additional lawsuits against five to ten other Wall Street firms to recover billions of dollars in additional […]
Categories: Asset Backed Securities, Brokerage Firms, CDOs, Commercial Mortgage Backed Securities, Common Securities Broker Abuses, Derivatives, Investigations, Investment Advisers, Investor Alerts, J. P. Morgan Chase, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonJune 7, 2011
Defense-minded institutions that have long remained on the sidelines when defrauded have finally woken up and are jumping on the plaintiff-recovery bandwagon as they seek to protect themselves against a variety of wrongdoing, according to Vanessa O’Connell’s Wall Street Journal article entitled “Company Lawyers Sniff Out Revenue.” These actions include waves of claims against Wall […]
Categories: Asset Backed Securities, Auction Rate Securities, Bank of America, Bank of New York Mellon, Brokerage Firms, CDOs, Citigroup/Smith Barney, Commercial Mortgage Backed Securities, Common Securities Broker Abuses, Credit Default Swaps, Credit Suisse, Derivatives, Deutsche Bank, ERISA Fiduciaries and Claims, Goldman Sachs, Investigations, Investment Advisers, Investor Alerts, J. P. Morgan Chase, Merrill Lynch, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Preferred Stocks, Private Investments/Reg D, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, SunTrust, UBS
Posted by Page PerryonMay 27, 2011
The Financial Industry Regulatory Authority (FINRA) has fined Credit Suisse Securities (USA) LLC $4.5 million, and Merrill Lynch $3 million. The fines arise out of FINRA’s findings that the firms misrepresented historical delinquency rates in connection with the residential subprime mortgage securitizations (RMBS) that the firms underwrote and sold. Upon learning of the errors, Merrill […]
Categories: Asset Backed Securities, Bank of America, Brokerage Firms, CDOs, Commercial Mortgage Backed Securities, Common Securities Broker Abuses, Credit Suisse, Investment Advisers, Investment Malpractice, Investor Alerts, Merrill Lynch, Misrepresentation/Omission, Mortgage Backed Securities, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonApril 8, 2011
Bank of America expects to face legal losses this year for anywhere from $145 million to $1.5 billion. And that is just what it can reasonably estimate. Most of these losses stem from the underwriting of mortgage-backed securities.
Categories: Bank of America, Brokerage Firms, Commercial Mortgage Backed Securities, Derivatives, Merrill Lynch, Money Market Funds, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools
Posted by Page PerryonApril 4, 2011
Gretchen Morgenson reports that the battle for the safety and soundness of U.S. financial markets is far from won, despite the Dodd-Frank financial reform act, as Wall Street lobbies Congress to relax certain key provisions of that act in an attempt to restart the “assembly line for selling toxic waste to investors.” See “Note to […]
Categories: Brokerage Firms, CDOs, Commercial Mortgage Backed Securities, Credit Default Swaps, Derivatives, Economy, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Structured Notes
Posted by Page PerryonMarch 27, 2011
Four of the nation’s largest Wall Street banks are facing threatened lawsuits by the National Credit Union Association (“NCUA”) and, possibly, regulators if they do not refund approximately $50 billion that five “wholesale” or “corporate” credit unions used to purchase bonds backed by risky subprime mortgage loans, according to a Wall Street Journal article by […]
Categories: Asset Backed Securities, Bank of America, Brokerage Firms, Citigroup/Smith Barney, Commercial Mortgage Backed Securities, Common Securities Broker Abuses, Derivatives, Goldman Sachs, J. P. Morgan Chase, Merrill Lynch, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes
Posted by Page PerryonMarch 18, 2011
According to a recent article in the Wall Street Journal, the SEC is looking into United States banks that have restructured troubled loans in order to make them appear healthier than they actually are. The SEC is looking into practices such as “extend and pretend” or “amend and pretend” in which a bank gives a […]
Categories: Brokerage Firms, CDOs, Commercial Mortgage Backed Securities, Derivatives, Economy, Hedge Funds, Investigations, Market Developments, Mortgage Backed Securities, Regulatory Developments, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools
Posted by Page PerryonMarch 17, 2011
The Securities and Exchange Commission and the Justice Department are investigating whether Bank of America Corp., Citigroup Inc., UBS AG, and other banks submitted inaccurate data in an attempt to manipulate the London Interbank Offered Rate (LIBOR), according to a Wall Street Journal article by David Enrich and Jean Eaglesham called “U.S. LIBOR Probe Includes […]
Categories: Bank of America, Brokerage Firms, Citigroup/Smith Barney, Commercial Mortgage Backed Securities, Economy, Market Developments, Mortgage Backed Securities, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, UBS
Posted by Page PerryonMarch 3, 2011
The asset-backed securities market ? “the Wall Street credit machine that helped set off the financial crisis” ? has come back to life, according to a New York Times article called “Wall Street Securitization Machine Back Into Gear?” Securities backed by commercial real estate, which apparently did not reach expected lows, are leading the pack. […]
Categories: Asset Backed Securities, Bank of America, Brokerage Firms, CDOs, Commercial Mortgage Backed Securities, Credit Default Swaps, Derivatives, Investment Advisers, Investor Alerts, J. P. Morgan Chase, Morgan Stanley, Mortgage Backed Securities, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Wells Fargo
Posted by Page PerryonMarch 1, 2011
Sophisticated institutional investors are bringing claims in waves against Wall Street financial institutions for fraud in the sale of mortgage backed securities, CDOs and related exotic investments. Most recently, Charles Schwab Corp. is among a group of financial institutions suing Goldman Sachs for making material misrepresentations and omissions in connection with the offer and sale […]
Categories: Asset Backed Securities, Brokerage Firms, CDOs, Charles Schwab, Commercial Mortgage Backed Securities, Common Securities Broker Abuses, Credit Default Swaps, Derivatives, Goldman Sachs, Investment Advisers, Investor Alerts, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes