Over on Dealbook , I look at a fight between Lehman and Deutsche Bank regarding classification of a claim Deutsche Bank bought from Lehman's German estate, and then partially sold to some hedge funds. The stakes are only four or five cents on the ... Read full article
Over at Dealbook , I take a look at the fight among tranche members in the case of a CDO that is in chapter 11 in New Jersey. Yes, that's not suppose to happen . . . which is what makes it so interesting. ... Read full article
If the Occupy Wall Street protests stand for anything they stand for a popular demand to rein in the banks and to bail out the victims of bank excesses. ... Read full article
Harrisburg filed its chapter 9 petition via fax ? ... Read full article
The latest proposal for dealing with the mortgage crisis comes from The Way Forward by Daniel Alpert, Robert Hockett and Nouriel Roubini (AHR), a policy paper sponsored by the New America Foundation. AHR present is an incredibly wide-ranging proposal ... Read full article
According to a recent Reuters story , consumers are reluctant to hold debt due to the U.S. Credit rating downgrade and debt problems in Europe. The economy is shaky so people are apparently less willing to carry tons of debt. ... Read full article
A simple google search for "foreclosure file reviewer" turns up a bunch of interesting things, including who is searching, what Level 2 means (as opposed to Level 1 or Level 3) and the involvement of Promontory, a financial services consulting ... Read full article
Do you have what it takes to be a Mortgage Foreclosure File Reviewer Level 2? An intrepid researcher forwarded to me a job ad for a mortgage foreclosure reviewer who will be reviewing bank foreclosures per the OCC/Fed servicing fraud consent orders. ... Read full article
I happened to walk by Zuccoti Park in Manhattan yesterday, where the Occupy Wall Street protest is centered. I picked up a few pieces of protester literature. I can't say that I was in any way comprehensive in my collection. Some of the literature ... Read full article
The SDNY requires mutually too, according to Judge Peck . ... Read full article
Over at Dealbook , I look at the very different treatment awaiting unsecured creditors of Countrywide, depending on whether they are bondholders or tort litigants. ... Read full article
The WSJ reports on the latest development in the implementation of the OCC's mortgage servicing fraud consent orders. It seems that the banks will have OCC approved "independent" foreclosure review consultants (chosen and paid by the ... Read full article
Over at ... Read full article
The Arizona Supreme Court currently has under review a mortgage documentation case, Vasquez v. Saxon Mortgage, Inc. Just by chance, the Court was on its annual visit to the University of Arizona law college, where I teach, for the oral argument on Sept. ... Read full article
Tomorrow, Katie Porter and I will be testifying at a subcommittee hearing for the Senate Committee on Banking, Housing and Urban Affairs. The title of the hearing is "Consumer Protection and Middle Class Wealth Building in an Age of Growing Household ... Read full article
Bully for you, Bank of America. Bank of America's starting charging monthly fees for debit card usage to some customers. This is being taken as an "I told you so" by opponents of the Durbin Amendment, who argued that it would only result ... Read full article
My Jotwell review of Sarah Woo's last article is here . ... Read full article
Over at Dealbook , I take a look at the obvious solution to the Greek situation and the chatter regarding a sovereign bankruptcy procedure. ... Read full article
Yesterday's decision from the District Court court in the Madoff-Mets litigation is yet another example of why Congress desperately needs to revisit the safe harbors which exempt a host of financial transactions from the workings of the Bankruptcy ... Read full article
