Mortgage Meltdown
This blawg covers the ever-growing gamut of litigation, legislation and regulatory responses arising out of the subprime mortgage crisis.
Author: This blawg is maintained by members of Milwaukee-based Reinhart, Boerner, Van Deuren's securitized mortgage and loan fraud team, including partners Ellen Brostrom, Laura Gramling-Perez and Chris Ware.
Blawg Related Categories: Banking Law • Legislation & Lobbying • Real Estate & Property Law • Trials & Litigation • Partner
Recent Posts from Mortgage Meltdown
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Treasury Issues New Rules on Executive Compensation for TARP Participants
Late last week, the Treasury department issued an interim final rule (somewhat of an oxymoron, but that is what it is called) entitled "TARP Standards for Compensation and Corporate Governance." The Treasury Department was given…
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Catching Up
Well, it's good to be back writing this blog again. Sorry to my readers for the long, unexplained absence. I just returned from an almost month-long trial in Baltimore, Maryland (I am based in Reinhart's…
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New SEC Chair Weighs In On Ratings Agencies
The credit rating agencies that provided securities packaging subprime mortgages with investment grade ratings have been in the cross-hairs of regulators and plaintiffs since the mortgage meltdown first began in the spring and summer of…
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New Century Financial Creditors Seek Over Billion Dollars From KPMG
In a what big four auditing firm KPMG would hope was just an April fools day prank, on April 1st a liquidating trust formed for the benefit of creditors in the New Century Financial bankruptcy…
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Guidelines For Obama Loan Modification Program
Earlier this month the Treasury Department issued regulations governing President Obama's mortgage modification plan, dubbed the Home Affordable Modification Program, which is one aspect of Obama's more comprehensive Homeowner Affordability and Stability Plan, the intent…
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Mortgage Modification By Bankruptcy Passes House
On March 5, the House of Representatives passed a bill that permits bankruptcy judges to modify mortgages on primary residences (referred to as a "cramdown" provision) in personal bankruptcy cases. Last week the House delayed…
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Financial Crisis Creates Wave Of FINRA Broker Litigation
The mortgage meltdown, and the ensuing financial crisis has resulted in a wave of new FINRA arbitrations by investors against their brokers and financial advisors. Although it is easier to track new securities class action…
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Obama's Mortgage Foreclosure Mitigation Plan
As this blog has noted in the past (here, here, here and here), the federal government has made several attempts at stemming the tide of foreclosures in the United States. Most of them have relied…
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New Litigation Round-Up
New cases arising from the ashes of the mortgage meltdown continue a-plenty and take many forms. A sampling of recent cases: ERISA According to an article here, on January 29 the ERISA retirement plan for…
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Tranche Warfare
Although securitized residential mortgages have been at the forefront of the credit crisis, commercial real estate debt has also been securitized, sliced, diced and sold to investors. Some estimate that over $700 billion in commercial…