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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Appellate Judge Affirms Injunction Preventing Freemont From Proceding With Foreclosures Of Subprime Mortgages In Massachusetts
In a prior post (here), we analyzed the temporary injunciton entered by a Massachusetts superior court judge effectively preventing Freemont Investement and Loan from foreclosing on any subprime mortgage loans issued to any Massachusetts borrowers…
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Shareholders Withdraw Motion To Enjoin JP Morgan - Bear Stearns Merger
As reported in Mortgage Meltdown previously (here), on April 9th the Delaware Chancery Court stayed the case filed by several pension funds seeking to enjoin the issuance of new shares of stock to JP Morgan…
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UBS Agrees To Return $35 Million To Massachusetts Municipalities Holding "Frozen" Auction Rate Securities
Massachusetts has been a hotbed of interesting news and court decisions related to the subprime market meltdown, primarily due to the activity of the state attorney general and securities agency (see our prior posts here…
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California Federal Court Denies Motions To Dismiss Countrywide ERISA Class Action
In a series of orders in March and April (available here), a federal judge in California denied motions to dismiss a class action lawsuit alleging violations of ERISA against Countrywide and several of its directors.…
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Desperate Homeowners May Be Turning To Arson And Insurance Fraud
As more and more Americans fall behind in payments on their mortgages or auto loans, the insurance industry has noted a "dramatic increase" in the number of suspicious home and auto fires, according to a…
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Delaware Court Refuses to Hear Motion to Enjoin JP Morgan - Bear Stears Merger
In an earlier post (here), we reported on the lawsuit pending in Delaware Chancery Court where several pension funds that owned stock in Bear Stearns sought to enjoin the issuance of new shares to JP…
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Rating agency Fitch comments on subprime liability
Rating agency Fitch issued a report this week regarding the subprime mortgage exposure for property casualty insurers. According to Fitch: Most early estimates have placed industry-wide insured losses at $3 billion to $4 billion, although…
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N.Y. Court Blocks Foreclosure And Allows Borrower To Recover Damages and Attorneys' Fees From Lender
In a previous post (here), we analyzed the decision of a Massachusetts court that enjoined Fremont Investment and Loan from foreclosing on any subprime loans in Massachusetts without the approval of the Massachusetts Attorney General…
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Delaware Court Hears Pension Funds' Motion To Enjoin JP Morgan – Bear Stearns Merger
Last week a Delaware Chancery court heard the motion of two pension funds to prevent the JP Morgan – Bear Stearns merger from going forward. As reported by Reuters (here), the court took no action…
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New Century Financial Bankruptcy Examiner Issues Report On What Went Wrong
In what will likely be a blueprint for an amended complaint in the securities fraud class action pending in federal court in California, the examiner appointed by the United States Trustee in New Century's bankruptcy…