Mortgage-Backed Securities Litigation: Latest Developments
Pursuing and Defending Investors, Issuers, Underwriters and Other Stakeholders in MBS Claims
Recording of a 90-minute CLE webinar/teleconference with Q&A
Conducted on Thursday, January 5, 2012
Recorded event now available
This CLE webinar will update counsel on recent trends involving residential and commercial mortgage-backed securities suits and discuss the complexities involved in representing the various stakeholders.
The credit crisis and multi-billion dollar write-down of mortgage-backed securities has spawned suits by investors against issuers and underwriters alleging securities fraud and common law breach of contract and misrepresentation theories. In addition to individual suits, investors have initiated class actions.
A new player in MBS litigation is the Federal Housing Finance Agency (FHFA) which recently filed 18 suits against major banks over MBS’s purchased by Fannie Mae and Freddie Mac. These claims cover $105 billion worth of securities with estimated losses between $30-40 billion.
Recent federal and state court rulings have sharpened substantive and procedural issues, although many issues remain to be addressed. Settlement announcements have accelerated and may shape the course of ongoing litigation. A case in point is the tortuous path of the Bank of America MBS settlement.
Listen as our panel of financial services attorneys analyzes and explains critical recent developments in the MBS suits and rulings.
Check it out here…
PDF of presentation at bottom of the link…