Mortgage Daily Logo
mortgage news from industry experts

Mortgage Investor Lawsuits Third-Quarter 2011 Third-Quarter 2011 Mortgage Litigation Index

Mortgage Investor Lawsuits
Third-Quarter 2011 Mortgage Litigation Index

Shareholder lawsuits and class actions accusing companies of inflating earnings, overstating capital position or otherwise deceiving investors in the company. Other shareholder issues.

Defendant
Plaintiff
Court
Amount
Overview
Case Title
Case Number Date Filed Link to Story
Bank of America, Inc.  n/a n/a n/a Class Action by BofA shareholders alleging failure to disclose liabilities to AIG during period where share price declined in 2011.  n/a n/a n/a www.mortgagedaily.com/LitigationInvestor092811.asp
Gary Dorris; Phillip Lamb Federal Deposit Insurance Corp.  U.S. District Court for the District of Arizona n/a FDIC sued CEO and director of failed Arizona bank in conjunction with improper underwriting  FDIC v. Dorris No. 2:11-cv-01652 n/a www.mortgagedaily.com/LitigationInvestor092811.asp
James O’Leary Securities and Exchange Commission U.S. District Court for the Northern District of Georgia $1,400,000 SEC settles suit against CEO of homebuilding company for payment of bonuses while company engaged in accounting fraud.  SEC v. O’Leary No. 1:11-cv-2901 8/20/2011 www.mortgagedaily.com/LitigationInvestor092811.asp
Mel Switzer; Sean Cutting;  Robert Nicholas; Suzanne Brangham; Dale Downing; Robert Hitchcock; Valerie Pistole; Mary Dieter Smith; DOE Defendants Douglas Ghiselin; Patricia Ghiselin Sonoma County Superior Court n/a Former shareholders of Sonoma Valley Bank filed a class-action against the bank’s officials for failing to appropriately manage lending.  Ghiselin et al. v. Switzer et al. SCV 250193 9/17/2011 www.mortgagedaily.com/mctsonomavalleybank072411.asp
n/a FDIC U.S. District Court for the Northern District of Georgia n/a Claim related to director and officer liability.  FDIC as Receiver of Haven Trust Bank v. Briscoe 1:11-mi-99999-UNA 7/14/2011 www.mortgagedaily.com/Closings080611.asp
National City Bank New York State Common Retirement Fund U.S. District Court for the Northern District of Ohio $168,000,000 Settlement of class action suit alleging subsidiary of PNC Financial misrepresented the quality of mortgages it owned.  In re National City Corp. Securities, Derivative and ERISA Litigation MDL No. 2003, No. 1:08-nc-70004 n/a www.mortgagedaily.com/LitigationInvestor092811.asp
Officers/directors of IndyMac Bank, F.S.B. FDIC as Receiver of IndyMac Bank, F.S.B. U.S. District Court for the Central District of California n/a Claim related to director and officer liability.  FDIC as Receiver of IndyMac Bank, F.S.B. v. Perry, et al. 2:10-cv-04915-DSF-SH 7/6/2010 www.mortgagedaily.com/Closings080611.asp
PNC Financial Services Group Inc. Investors of National City Corp. U.S. District Court for the Northern District of Ohio.  $168,000,000 Investors  of National City Corp., led by the New York State Common Retirement Fund, sued National City (which PNC Financial Services Group acquired in 2008) in a securities fraud lawsuit, claiming the bank misrepresented the extent of losses from mortgages and home equity loans.  Markert et al. v. The PNC Financial Services Group, Inc. 2:2011cv04918 8/1/2011 https://www.mortgagedaily.com/MctSettlementPnc080911.asp
Temple-Inland, Inc.; TIN, Inc.; Forestar (USA) Real Estate Group Inc.; Kenneth M. Jastrow, II; Kenneth R. Dubuque; Randall D. Levy; Arthur Temple, III; Larry Temple Kenneth L. Tepper U.S. District Court for the Northern District of Texas $1,000,000,000 Guaranty’s liquidating trustee filed a 114 page lawsuit for allegedly looting bank by, among other things, taking $170 million in dividends from Guaranty in 2006 and 2007, transferring $335 million in real estate assets from Guaranty for little or no consideration, and loading Guaranty with $305 million in debt to pay off other preferred securities holders. Tepper v. Temple-Inland, Inc., et al. 3:2011cv02088 8/22/2011 www.mortgagedaily.com/MctLawsuitGuaranty082311.asp� 
Todd Lane; Robert Siravo; Timothy Sidley; Thomas E. Swedberg National Credit Union Administration U.S. District Court for the Central District of California n/a Court rules that the defendants weren’t liable for acts alleged to be negligent because the actions of the directors were protected by the so-called business judgment rule. National Credit Union Admin. Bd., Conservator, v. Siravo et. al. No. cv10-01597 GW n/a www.mortgagedaily.com/LitigationInvestor092811.asp
Tom Bryan Federal Deposit Insurance Corp.  U.S. District Court for the Northern District of Georgia $71,000,000 FDIC sued directors of failed bank alleging lavish misuse of funds as bank failed due to poor real estate loan portfolio.   FDIC v. Bryan No. 1:11-cv-2790 n/a www.mortgagedaily.com/LitigationInvestor092811.asp
Ambac Financial Group, Inc.; Robert J. Genader; Phillip B Lassiter; Sean T. Leonard; Thomas J. Gandolfo Scott Reimer U.S. District Court for the Southern District of New York n/a Stipulations of settlement were signed by underwriter defendants, including Ambac.  The court preliminarily approved the settlement, though formal court approval is still needed.  The lawsuit involves violations of the Securities and Exchange Act of 1934 and Securities Act of 1933. In re Ambac Financial Group, Inc. Securities Litigation 1:2008cv00411 1/16/2008 www.mortgagedaily.com/LitigationMbs081011.asp� 
Bank of America Western and Southern Life Insurance Co. Hamilton County Common Pleas Court $134,000,000 Plaintiffs’ lawsuit alleges that Defendants made misrepresentations on $134 million in MBS plaintiffs invested in between 2006 and 2008. Western and Southern Life Insurance Co., et al. v. Bank of America n/a 7/18/2011 www.mortgagedaily.com/LitigationMbs090711.asp� 
Bank of America Corporation; Countrywide Capital V; Countrywide Financial Corporation; KPMG LLP; Angelo R Mozilo; David Sambol;  Eric P Sieracki Alaska International Trust, Alaska Large-Cap Trust, Alaska Money Market Trust, Alpha Tilts Fund B, American Century Capital Portfolios Inc., American Century Investment Management, American Century Quantitative Equity Funds Inc, American Century Variable Portfolios, Inc., Aquila Life US Equity Index Fund, Ascent Life US Equity Fund, Asset Allocation Fund, Ausgleichsfonds Der Alters-Und, Barclays International Funds USA Equity Fund, Blackrock CDN US Alpha Tilts Non-Taxable Fund, Blackrock CDN US Equity Index Non-Taxable Fund, Blackrock Financial Management Inc., Blue Chip Growth Fund, CDP Alpha Tilts Separate Account, California Public Employees’ Retirement System, College Retirement Equities Fund, College Retirement Equities Fund Equity Index Account, College Retirement Equities Fund Stock Account, Dividend Value Fund, Equity Index Fund, Equity Index Fund B, Equity Index Portfolio, Equity Index Trust, FMC-US R3000 Alpha Tilts UA, Focus Growth Portfolio, Focused Value Portfolio, Global Equities Account, Hinterlassenenversicherung, Kalamazoo Anesthesiology, Robert L. Kosnoski, Large Cap Composite Portfolio, Large Cap Growth Portfolio, Large Cap Value Index Trust of QA Collective Trust Series, Large Cap Value Portfolio, Large Capitalization Core Tilts Fund B, Lucent EQ Indx Sep Acct, MFS Total Return Portfolio, MSCI U.S. Equity Index Fund B, Maryland State Retirement and Pension System, Master S and P 500 Index Series of Quantitative Master Series Trust, Montana Board of Investments, NC R3000 Tilts Sep Acct, NZ Super US Tilts, Norges Bank, Nuveen Equity Premium Opportunity Fund, Nuveen Growth Allocation Fund, Nuveen Investments Inc., Nuveen Multi-Manager Large Cap Value Fund, Nuveen Multi-Strategy Income and Growth Fund, Nuveen Multi-Strategy Income and Growth Fund 2, Nuveen NWQ Large-Cap Value Fund, Nuveen NWQ Multi-Cap Value Fund, Nuveen Quality Preferred Income Fund, Nuveen Quality Preferred Income Fund 2, Nuveen Quality Preferred Income Fund 3, Nuveen Santa Barbara Dividend Growth Fund, Obsidian Master Fund Trust, Omers Russell 1000 Enhanced Index Mandate, Royal Mail Pension Plan, Russell 1000 Alpha Tilts BL, Russell 1000 Alpha Tilts Funds B, Russell 1000 Index Fund, Russell 1000 Value Alpha Tilts Fund B, Russell 1000 Value Fund, Russell 1000 Value Fund B, Russell 3000 Index Fund, Stock Index Fund, Stock Portfolio, Strategic Multi-Asset Portfolio, Sunamerica Asset Management Corp, T. Rowe Price Associates Inc., T. Rowe Price Balanced Fund, T. Rowe Price Blue Chip Growth Fund, T. Rowe Price Blue Chip Growth Portfolio, T. Rowe Price Bond Index Trust, T. Rowe Price Capital Opportunity Fund, T. Rowe Price Equity Income Fund, T. Rowe Price Equity Income Portfolio, T. Rowe Price Equity Income Trust, T. Rowe Price Equity Index 500 Fund, T. Rowe Price Equity Index 500 Portfolio, T. Rowe Price Equity Index Trust, T. Rowe Price Financial Services, T. Rowe Price Georgia Tax-Free Bond Fund, T. Rowe Price Growth Stock Fund, T. Rowe Price Growth Stock Trust, T. Rowe Price Growth and Income Fund, T. Rowe Price Growth and Income Trust, T. Rowe Price Inflation Focused Bond Fund, T. Rowe Price Institutional Large-Cap Core Growth Fund, T. Rowe Price Institutional U.S. Structured Research Fund, T. Rowe Price Limited-Term Bond Portfolio, T. Rowe Price Managed Bond Common Trust Fund, T. Rowe Price New America Growth Fund, T. Rowe Price New America Growth Portfolio, T. Rowe Price New Income Fund, T. Rowe Price Personal Strategy Balanced Fund, T. Rowe Price Personal Strategy Balanced Portfolio, T. Rowe Price Personal Strategy Growth Fund, T. Rowe Price Personal Strategy Income Fund, T. Rowe Price Short-Term Bond Fund, T. Rowe Price Stable Value Common Trust Fund, T. Rowe Price Structured Research Common Trust Fund, T. Rowe Price Total Equity Market Index Fund, T. Rowe Price Value Fund, TIAA Separate Account VA-1 Stock Index Account, TIAA-CREF Asset Management Commingled Funds Trust I Large Cap Value Fund, TIAA-CREF Funds Equity Index Fund, TIAA-CREF Funds Large-Cap Value Fund, TIAA-CREF Funds Large-Cap Value Index Fund, TIAA-CREF Funds S and P 500 Index Fund, TIAA-CREF Life Funds Large-Cap Value Fund, TIAA-CREF Life Funds Stock Index Fund, Teacher Retirement System of Texas, Teachers Insurance and Annuity Association-College Retirement Services, The Government of Guam Retirement Fund, Thrivent Balanced Fund, Thrivent Balanced Portfolio, Thrivent Bond Index Fund, Thrivent Bond Index Portfolio, Thrivent Core Bond Fund, Thrivent Financial Defined Benefit Plan Trust, Thrivent Financial for Lutherans, Thrivent Financial for Lutherans Foundation, Thrivent Income Fund, Thrivent Income Portfolio, Thrivent Large Cap Index Fund, Thrivent Large Cap Index Fund I, Thrivent Large Cap Index Portfolio, Thrivent Large Cap Stock Fund, Thrivent Large Cap Stock Portfolio, Thrivent Large Cap Value Fund, Thrivent Large Cap Value Portfolio, Thrivent Life Insurance Company, Thrivent Limited Maturity Bond Fund, Thrivent Limited Maturity Bond Portfolio, Thrivent Partner All Cap Portfolio, U.S. Equity Market Fund B, US Alpha Tilts Tokyo Pension Clients, iShares Dow Jones US Financial Sector Index Fund, iShares Russell 100 Indx Fund, iShares Russell 1000 Value Fund, iShares Russell 3000 Index Fund, iShares S and P 500 Growth Fund and iShares S and P 500 Index Fund U.S. District Court for the Central District of California n/a More than a dozen investors of residential mortgage-backed securities issued by Countrywide Financial Crop. have opted out of a $624 million settlement and filed their own lawsuit seeking hundreds of millions of dollars.  The Government of Guam Retirement Fund et al. v. Countrywide Financial Corporation et al. 2:2011cv06239 7/28/2011 www.mortgagedaily.com/MctLawsuitboa072911.asp
Countrywide 248 borrowers Second District California Court of Appeals na Ruling that fraudulent concealment claim cannot be pursued. na na na www.mortgagedaily.com/LitigationInvestor092811.asp
Countrywide Financial Corp. Allstate Insurance Co. U.S. District Court for the Central District of California $700,000,000 A federal judge agreed to transfer Allstate’s lawsuit, originally filed in federal court in New York, to California because of its similar allegations made by other parties about MBS risks. Allstate Ins. Co. v. Countrywide Fin. Corp. 10-cv-9591 12/28/2010 www.mortgagedaily.com/LitigationMBs070611.asp
Countrywide Financial Corp., et al. David H. Luther, et al. California Court of Appeals, Second Appellate District, Division Five n/a The court of appeals ruled that the class action did not necessarily need to proceed in federal court, and overruled the trial court’s decision stating so. Luther v. Countrywide Fin. Corp. B222889 5/18/2011 www.mortgagedaily.com/LitigationMBs070611.asp
Countrywide Financial Corp., et al. Included are a class of Plaintiffs from eight actions against Countrywide U.S. Judicial Panel on Multidistrict Litigation n/a The U.S. Judicial Panel on Multidistrict Litigation in California federal court consolidated eight actions against Countrywide Financial Corp. over low-quality MBS.  The panel decided that each case against Countrywide involved common questions of fact over allegations that Countrywide misrepresented the quality of securitized loans originated between 2004 and 2007. In re Countrywide Financial Corp. Mortgage Backed Securities Litigation MDL No. 2265 8/15/2011 www.mortgagedaily.com/LitigationMbs090711.asp� 
Countrywide Financial Corp.; Countrywide Home Loans, Inc.; Countrywide Capital Markets LLC; Countrywide Securities Corp.; CWALT, Inc.; CWABS, Inc.; CWMBS, Inc.; CWHEQ, Inc.; Bank of America Corp.; Bank of America Home Loans Servicing, LP; NB Holdings Corp.; Angelo Mozilo; David Sambol, Eric Sieracki; Ranjit Kripalani; Stanford Kurland; David A. Spector; N. Joshua Adler; Jennifer Sandefur Western and Southern Life Insurance Co.; Western Southern Life Assurance Co.; Integrity Life Insurance Co.; National Integrity Life Insurance Co.; Fort Washington Investment Advisors, Inc. Ohio Southern District Court $225,000,000 Plaintiffs allege that Defendant Countrywide, which was acquired by Bank of America in 2008, made misrepresentations regarding $225 million in loans sold to Plaintiff. Western and Southern Life Insurance Co., et al. v. Countrywide Financial Corp., et al. 1:2011cv0027 4/27/2011 www.mortgagedaily.com/LitigationMbs090711.asp� 
Deutche Bank AG Dexia SA/NV New York State Supreme Court n/a Plaintiffs’ lawsuit alleges that Deutsche ignored its own due diligence when marketing poor quality mbs. Dexia SA/NV v. Deutsche Bank AG 651918/2011 n/a www.mortgagedaily.com/LitigationMbs081011.asp�  
Deutsche Bank AG Class Action U.S. District Court for the Southern District of New York n/a A class action has been filed against Deutsche Bank accusing it of violations of the 1934 Securities Exchange Act through concealing its impaired MBS. n/a n/a 6/21/2011 www.mortgagedaily.com/LitigationMBs070611.asp
Deutsche Bank AG Teachers Insurance & Annuity Association of America New York State Supreme Court  n/a Plaintiffs’ lawsuit alleges that Deutsche was internally acknowledging the poor quality of mortgage securities while not conveying that view during marketing of the MBS. Teachers Insurance & Annuity Association of America v. Beutsche Bank AG 652122/2011 n/a www.mortgagedaily.com/LitigationMbs081011.asp�  
DLJ MORTGAGE CAPITAL, INC., et al. New Jersey Carpenters Health Fund, on behalf of similarly situated investors in Home Equity Mortgage Trust, Series 2006-5 U.S. District Court for the Southern District of New York $2,390,000,000 On Aug. 16, 2011, District Judge Paul A. Crotty certified a class action against defendants revolving around $2.39 billion in private-label RMBS that investor plaintiffs claim they acquired based on misleading offering documents.  Plaintiffs allege violations of the Securities Act of 1933. New Jersey Carpenters Health Fund, et al. v. Home Equity Mortgage Trust Series 2006-5, et al. 1:08-cv-05653-PAC 6/23/2008 www.mortgagedaily.com/MbsClassCertification082411.asp
Flagstar Bank, FSB; Flagstar Capital Markets Corp.; Flagstar ABS, LLC Assured Guaranty Municipal Corp. U.S. District Court for the Southern District of New York $82,400,000 Assured sued Flagstar over $900 million in MBS issued in 2005 and 2006, and is awaiting a decision on Flagstar’s motion to dismiss. Assured Guaranty Muni. Corp. v. Flagstar Bank, FSB 1:2011-cv-02375 4/7/2011 www.mortgagedaily.com/LitigationMBs070611.asp
Goldman, Sachs & Co.; Goldman Sachs Group; Inc., Goldman Sachs Mortgage Co.; GS Mortgage Securities Corp. Allstate Insurance Co. and Allstate Life Insurance Co. New York State Supreme Court of New York County $123,000,000 Plaintiffs allege deceit by the investment banker in the sale of $123 million in MBS.  Defendants allegedly underwrote MBS with poor quality loans then bet against them. Allstate Insurance Co., et al. v. Goldman Sachs & Co., et al. 652273/2011 8/15/2011 www.mortgagedaily.com/LitigationMbs090711.asp� 
MBIA Inc.  Teacher’s Retirement System of Oklahoma et al. U.S. District Court for the Southern District of New York $68,000,000 Shareholders of MBIA sued claiming company failed to disclose its exposure to MBS and CDO losses. In Re MBIA Inc. Sec. Lit. No. 08-264 n/a www.mortgagedaily.com/LitigationInvestor092811.asp
Merrill Lynch & Co., Inc., et al. Public Employees’ Retirement System of Mississippi, as lead Plaintiff for investors in certain MBS issued by Merrill Lynch in 2006 and 2007 U.S. District Court for the Southern District of New York n/a District Court Judge Jed S. Rakoff certified a class action against Merrill Lynch & Co, Inc., reaffirming a June 15, 2011 certification. The class of 1,800 MBS investors alleges that Merrill Lynch mislead them about the risks of the investments and committed securities fraud. Public Employees’ Retirement System of Mississippi, et al. v. Merrill Lynch & Co., Inc., et al.  1:08-cv-10841-JSR; and 1:2009cv01392 (member case) 12/12/2008 www.mortgagedaily.com/MbsClassCertification082411.aspwww.mortgagedaily.com/LitigationMBs070611.asp
Merrill Lynch; Pierce, Fenner & Smith MBIA Insurance Co. New York State Supreme Court, New York County n/a MBIA and Merrill Lynch jointly agreed to dismiss MBIA’s suit with prejudice that was pending in New York state court over insurance for mortgage bonds that later turned toxic. MBIA Ins. Co. v. Merrill Lynch 9601324 4/30/2009 www.mortgagedaily.com/MctSettlementBoa071211.asp
Morgan Stanley Allstate Insurance Co. New York State Supreme Court $104,000,000 Untrue statements about MBS alleged. n/a n/a 7/5/2011 www.mortgagedaily.com/LitigationMbs081011.asp� 
Morgan Stanley State of Nevada Clark County District Court – Nevada $40,000,000 Settlement with Nevada Attorney General over investigation into deceptive lending and securitization practices. n/a n/a n/a www.mortgagedaily.com/mctsettlementmorganstanley092711.asp
Morgan Stanley Mortgage Capital, Inc.; Morgan Stanley Capital I Inc.; Morgan Stanley & Co., Inc.; Indymac MBS, Inc.; Merrill Lynch, Pierce, Fenner & Smight Inc. Western and Southern Life Insurance Company; Western and Southern Life Assurance Company; Columbus Life Insurance Company; Integrity Life Insurance Company; National Integrity Life Insurance Company; Fort Washington Investment Advisors, Inc. Court of Common Pleas in Ohio, removed to the U.S. District Court for the Southern District of Ohio $190,000,000 Plaintiffs allege that defendants violated Ohio’s Securities Act in the sale of $130 million in RMBS.  Western and Southern Life Insurance Co., et al. v. Morgan Stanley Mortgage Capital, Inc., et al. 1:2011cv00576 removed 8/22/2011 www.mortgagedaily.com/LitigationMbs081011.asp� 
Morgan Stanley; Morgan Stanley Capital Holdings LLC; Saxon Mortgage Services, Inc. MBIA Insurance Corp. Supreme Court of the State of New York, County of Westchester, on appeal to the Appellate Division of the New York Supreme Court, First Department n/a Defendant Morgan Stanley filed an appeal of a lower court’s May 26th decision on its motion to dismiss.  Plaintiff claimed that defendants made misrepresentations regarding the quality of underlying mortgage loans, which plaintiffs relied upon in issuing certificates of insurance.  MBIA Insurance Corp. v. Morgan Stanley, et al. Index No. 29951-10  12/6/2010 (complaint filed) and 6/28/2011 (appeal filed) www.mortgagedaily.com/LitigationMbs081011.asp� 
N. Joshua Adler; Bank of America Corp.; Barclays Capital Inc.; CWABS Inc.; CWALT Inc.; CWHEQ Inc.; CWMBS Inc.; Countrywide Capital Markets; Countrywide Financial Corp.;  Countrywide Home Loans Inc.; Countrywide Securities Corp.; Deutsche Bank Securities Inc.; Greenwich Capital Markets Inc.; Ranjit Kripalani; Stanford L. Kurland; NB Holdings Corp.; David A. Sambol; Jennifer S. Sandefur; Eric P. Sieracki; David A. Spector; UBS Securities LLC Stichting Pensioenfonds ABP U.S. District Court for the Central District of California n/a U.S. District Court Judge Mariana Pfaelzer ruled last month that Stichting Pensioenfonds ABP waited too long to file fraud claims based on alleged misrepresentations on MBS issued by Countrywide.   Stichting Pensioenfonds ABP v. Countrywide Financial Corp., et al. 2:2010-cv-07275  9/29/2010 www.mortgagedaily.com/LitigationMbs090711.asp� 
The Bank of New York Mellon The Knights of Columbus Supreme Court of the State of New York County of New York n/a Knights of Columbia’s amended complaint expanded its lawsuit against The Bank of New York Mellon to include claims of breach of contract, breach of fiduciary duty, negligence, gross negligence, recklessness and unfair trade practices.  The Bank of New York is accused of not providing documents requested on the trusts.  A news release stated that “Instead, without consulting the Knights and without determining the value of the Knights’ claims, BNYM asserts that it settled the claims underlying the Knights’ suit, and then sought to compel the Knights to accept the result.” Knights of Columbia v. Bank of New York Mellon Index No. 651442/2011 8/16/2011 www.mortgagedaily.com/LitigationMbs090711.asp�www.mortgagedaily.com/LitigationMBs070611.asp
WaMu Mortgage Pass Through Certificates; Washington Mutual Bank; WaMu Asset Acceptance Corporation; David Beck; Diane Novak; Thomas Green; Rolland Jurgens; Richard Careaga; WaMu Capital Corporation Boilermakers National Annuity Trust Fund U.S. District Court for the Western District of Washington n/a The District Court for the Western District of Washington denied plaintiffs’ claims to hold JP Morgan Chase Bank, N.A. liable for MBS issued by Washington Mutual Bank.  The judge ruled that plaintiffs did not provide a cogent or reasoned theory of successor liability as to JPMC. In re Washington Mutual Mortgage Backed Securities Litigation C09-37 MJP 1/12/2009 www.mortgagedaily.com/LitigationMbs090711.asp� 
Wells Fargo & Co. General Retirement System of the City of Detroit, et al. U.S. District Court for the Northern District of California $125,000,000 Wells Fargo entered into a settlement with several MBS investors for $125 million over allegations that Wells Fargo misled the investors about how much equity borrowers had in their homes. In re Wells Fargo Mortgage Backed Securities 2006-AR18 Trust, et al. 5:09-cv-01376-LHK 3/27/2009 www.mortgagedaily.com/MctSettlementWells070811.aspwww.mortgagedaily.com/WellsProduction071911.aspwww.mortgagedaily.com/MctLawsuitWellsMemphis083011.asp 
Wells Fargo, Wachovia and its affiliates Orange County Employees’ Retirement System, the Louisiana Sheriffs’ Pension and Relief Fun and the Southeastern Pennsylvania Transportation Authority, as lead Plaintiffs for a class of investors U.S. District Court for the Southern District of New York $590,000,000 Wells Fargo has agreed to pay $590 million to settle a class-action lawsuit filed by investors in Wachovia securities.  The settlement would end a suit filed in 2008 charging that Wachovia misled investors in its bonds and preferred securities by understating losses associated with risky mortgages. In re Wachovia Preferred Securities and Bond/Notes Litigation 09 Civ. 6351 (RJS) 2008 www.mortgagedaily.com/MctLawsuitWellsMemphis083011.aspwww.mortgagedaily.com/SettlementWellsCT081711.asp
Wells Fargo & Co.  Wachovia Corp. bondholders U.S. District Court, Southern District of New York $590,000,000 Wells Fargo has agreed to pay $590 million to settle lawsuits filed by bondholders alleging a Wachovia subsidiary misrepresented the quality of its residential mortgages. n/a n/a n/a www.mortgagedaily.com/MctSettlementWells080611.asp
ALLY FINANCIAL INC., et al Federal Housing Finance Agency, as Conservator for the Federal Home Loan Mortgage Corp. Supreme Court of the State of New York n/a 17 different complaints complaints filed against 17 issuers and underwriters of MBS over sour investments made by Fannie and Freddie.   Federal Housing Finance Agency, et al, Plaintiff, -against- Ally Financial Inc., et al n/a 9/2/2011 www.mortgagedaily.com/LawsuitsFhfa090611.asp�              www.mortgagedaily.com/LawsuitsFhfa090211.asp
Bank of America Corp., Bank of America, National Association, et al Federal Housing Finance Agency, as Conservator for the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. U.S. District Court for the Southern District of New York n/a 17 different complaints complaints filed against 17 issuers and underwriters of MBS over sour investments made by Fannie and Freddie.   Federal Housing Finance Agency, et al, Plaintiff, -against- Bank of America Corp., et al n/a 9/2/2011 www.mortgagedaily.com/LawsuitsFhfa090611.asp�              www.mortgagedaily.com/LawsuitsFhfa090211.asp
Barclays Bank Plc, et al Federal Housing Finance Agency, as Conservator for the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. U.S. District Court for the Southern District of New York n/a 17 different complaints complaints filed against 17 issuers and underwriters of MBS over sour investments made by Fannie and Freddie.   Federal Housing Finance Agency, et al, Plaintiff, -against- Barclays Bank PLC, et al n/a 9/2/2011 www.mortgagedaily.com/LawsuitsFhfa090611.asp�              www.mortgagedaily.com/LawsuitsFhfa090211.asp
Citigroup Inc., et al Federal Housing Finance Agency,  as Conservator for the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. U.S. District Court for the Southern District of New York n/a 17 different complaints complaints filed against 17 issuers and underwriters of MBS over sour investments made by Fannie and Freddie.   Federal Housing Finance Agency, et al, Plaintiff, -against- Bank of America Corp., et al n/a 9/2/2011 www.mortgagedaily.com/LawsuitsFhfa090611.asp�              www.mortgagedaily.com/LawsuitsFhfa090211.asp
Countrywide Financial Corp., et al. Federal Housing Finance Agency, as Conservator for the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. Supreme Court of the State of New York n/a 17 different complaints complaints filed against 17 issuers and underwriters of MBS over sour investments made by Fannie and Freddie.   Federal Housing Finance Agency, et al, Plaintiff, -against- Countrywide Financial Corp., et al n/a 9/2/2011 www.mortgagedaily.com/LawsuitsFhfa090611.asp�              www.mortgagedaily.com/LawsuitsFhfa090211.asp
Credit Suisse Holdings (USA) Inc., et al Federal Housing Finance Agency, as Conservator for the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp., U.S. District Court for the Southern District of New York n/a 17 different complaints complaints filed against 17 issuers and underwriters of MBS over sour investments made by Fannie and Freddie.   Federal Housing Finance Agency, et al, Plaintiff, -against- Bank of America Corp., et al n/a 9/2/2011 www.mortgagedaily.com/LawsuitsFhfa090611.asp�              www.mortgagedaily.com/LawsuitsFhfa090211.asp
Deutsche Bank AG, et al Federal Housing Finance Agency, as Conservator for the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. U.S. District Court for the Southern District of New York, the Supreme Court of the State of New York and the U.S. District Court for the District of Connecticut n/a 17 different complaints complaints filed against 17 issuers and underwriters of MBS over sour investments made by Fannie and Freddie.   Federal Housing Finance Agency, et al, Plaintiff, -against- Deutsche Bank AG, et al n/a 9/2/2011 www.mortgagedaily.com/LawsuitsFhfa090611.asp�              www.mortgagedaily.com/LawsuitsFhfa090211.asp
Federal Deposit Insurance Corp. Deutsche Bank National Trust Co. U.S. District Court for the District of Columbia n/a The federal judge denied a request for dismissal filed by WaMu’s receiver, the FDIC. Deutsche lawsuit alleges that securitized loans issued by WaMu MBS were not underwritten based on stated standards.   Deutsche Bank National Trust Co. v. Federal Deposit Insurance Corp.  1:2009cv1656 8/26/2009 www.mortgagedaily.com/LitigationMbs090711.asp� 
First Horizon National Corp., et al Federal Housing Finance Agency, as Conservator for the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. U.S. District Court for the Southern District of New York, the Supreme Court of the State of New York and the U.S. District Court for the District of Connecticut n/a 17 different complaints complaints filed against 17 issuers and underwriters of MBS over sour investments made by Fannie and Freddie.   Federal Housing Finance Agency, et al, Plaintiff, -against- First Horizon National Corp., et al n/a 9/2/2011 www.mortgagedaily.com/LawsuitsFhfa090611.asp�              www.mortgagedaily.com/LawsuitsFhfa090211.asp
General Electric Company; General Electric Capital Services, Inc. d/b/a GE Consumer Finance or GE Money; GE Mortgage Holdings, L.L.C.; GE-WMC Securities, L.L.C.; Morgan Stanley & Co., Inc.; Credit Suisse Securities (USA) LLC f/k/a Credit Suisse First Bost Federal Housing Finance Agency, as Conservator for the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. Supreme Court of the State of New York $549,000,000 17 different complaints complaints filed against 17 issuers and underwriters of MBS over sour investments made by Fannie and Freddie. Lawsuit alleges violations of securities laws in connection with $549 million worth of securities the company sold to Freddie Mac in 2005.  GE and others are accused of making inaccurate statements in documents when selling Fannie  and Freddie MBS. Federal Housing Finance Agency, et al, Plaintiff, -against- General Electric Company, et al n/a 9/2/2011 www.mortgagedaily.com/LawsuitsFhfa090611.asp�www.mortgagedaily.com/LawsuitsFhfa090211.aspwww.mortgagedaily.com/LitigationMbs090711.asp� 
Goldman, Sachs & Co., et al Federal Housing Finance Agency, as Conservator for the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. U.S. District Court for the Southern District of New York n/a 17 different complaints complaints filed against 17 issuers and underwriters of MBS over sour investments made by Fannie and Freddie.   Federal Housing Finance Agency, et al, Plaintiff, -against- Goldman, Sachs & Co., et al n/a 9/2/2011 www.mortgagedaily.com/LawsuitsFhfa090611.asp�              www.mortgagedaily.com/LawsuitsFhfa090211.asp
HSBC North America Holdings Inc., et al Federal Housing Finance Agency, as Conservator for the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. U.S. District Court for the Southern District of New York n/a 17 different complaints complaints filed against 17 issuers and underwriters of MBS over sour investments made by Fannie and Freddie.   Federal Housing Finance Agency, et al, Plaintiff, -against- HSBC North America Holdings Inc, et al n/a 9/2/2011 www.mortgagedaily.com/LawsuitsFhfa090611.asp�              www.mortgagedaily.com/LawsuitsFhfa090211.asp
JP Morgan Securities LLC; JP Morgan Acceptances Corporation I; American Home Mortgage Assets LLC; Indymac MBS, Inc.; Bond Securitization LLC National Credit Union Association U.S. District Court for the District of Kansas $435,000,000 The NCUA alleges that JP Morgan violated state and federal securities laws and misrepresented the sale of hundreds of securities to failed credit unions. Total of $870 mil sought from 2 actions, used half each. NCUA v. JP Morgan Securities LLC 2:11-cv-02341-EFM-JPO 6/20/2011 www.mortgagedaily.com/LawsuitNcuaVsRbs071911.asp”>www.mortgagedaily.com/LawsuitNcuaVsRbs071911.asp
JPMorgan Chase & Co; WAMU Asset Acceptance Corp.; Washington Mutual Mortgage Securities Corp.. David M. Duzyk; et al.  Federal Housing Finance Agency, as Conservator for the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. U.S. District Court for the Southern District of New York n/a Conservators for Fannie Mae/Freddie Mac filed suit against JPMorgan and Washington Mutual subsidiaries and individual employees alleging defendants misled Fannie and Freddie about the quality of the mortgages it was selling. 17 different complaints complaints filed against 17 issuers and underwriters of MBS over sour investments made by Fannie and Freddie.   Federal Housing Finance Agency, et al, Plaintiff, -against- JPMorgan Chase & Co., et al n/a 9/3/2011 www.mortgagedaily.com/mctlawsuitwamu090911.asp, www.mortgagedaily.com/LawsuitsFhfa090611.asp�www.mortgagedaily.com/LawsuitsFhfa090211.asp
Merrill Lynch & Co. Inc., et al Federal Housing Finance Agency, as Conservator for the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. U.S. District Court for the Southern District of New York n/a 17 different complaints complaints filed against 17 issuers and underwriters of MBS over sour investments made by Fannie and Freddie.   Federal Housing Finance Agency, et al, Plaintiff, -against- Merrill Lynch & Co. Inc., et al n/a 9/2/2011 www.mortgagedaily.com/LawsuitsFhfa090611.asp�              www.mortgagedaily.com/LawsuitsFhfa090211.asp
Morgan Stanley, et al Federal Housing Finance Agency, as Conservator for the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. Supreme Court of the State of New York n/a 17 different complaints complaints filed against 17 issuers and underwriters of MBS over sour investments made by Fannie and Freddie.   Federal Housing Finance Agency, et al, Plaintiff, -against- Morgan Stanley, et al n/a 9/2/2011 www.mortgagedaily.com/LawsuitsFhfa090611.asp�              www.mortgagedaily.com/LawsuitsFhfa090211.asp
Nomura Holding America Inc., et al Federal Housing Finance Agency, as Conservator for the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. U.S. District Court for the Southern District of New York n/a 17 different complaints complaints filed against 17 issuers and underwriters of MBS over sour investments made by Fannie and Freddie.   Federal Housing Finance Agency, et al, Plaintiff, -against- Nomura Holding America Inc., et al n/a 9/2/2011 www.mortgagedaily.com/LawsuitsFhfa090611.asp�              www.mortgagedaily.com/LawsuitsFhfa090211.asp
RBS Securities, Inc., f/k/a RBS Greenwich Capital Markets, Inc; Greenwish Capital Acceptance, Inc.; American Home Mortgage Assets LLC; Indymac MBS, Inc.; Lares Asset Securitization, Inc.; Nomura Asset Acceptance Corp.; Nomura Home Equity Loan, Inc.; Wachovia Mortgage Loan Trust, LLC National Credit Union Association U.S. District Court for the Central District of California $435,000,000 The NCUA alleges violations of state and federal securities laws and misrepresentations in the sale of MBS to Western Corporate Federal Credit Union, which was placed in NCUA conservatorship in 2009. Total of $870 mil sought from 2 actions, used half each. NCUA v. RBS Securities, Inc., et al. LACV-11-5887 7/18/2011 www.mortgagedaily.com/LawsuitNcuaVsRbs071911.asp
RBS Securities, Inc., f/k/a RBS Greenwich Capital Markets, Inc; Greenwish Capital Acceptance, Inc.; Financial Asset Securities Corp.; Fremont Mortgage Securities Corp.; Residential Funding Mortgage Securities II, Inc.; Indymac MBS, Inc.; Novastar Mortgage Funding Corp.; Nomura Home Equity Loan, Inc.; Lares Assets Securitization, Inc.; Saxon Asset Securities Co.; Wachovia Mortgage Loan Trust, LLC. National Credit Union Association U.S. District Court for the District of Kansas $629,000,000 The NCUA alleges that RBS Securities violated state and federal securities laws and misrepresented the sale of hundreds of securities to failed credit unions. NCUA v. RBS Securities, Inc., et al 2:11-cv-02340-RDR-KGS 6/20/2011 www.mortgagedaily.com/LawsuitNcuaVsRbs071911.asp
SG Americas, et al Federal Housing Finance Agency, as Conservator for the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. U.S. District Court for the Southern District of New York n/a 17 different complaints complaints filed against 17 issuers and underwriters of MBS over sour investments made by Fannie and Freddie.   Federal Housing Finance Agency v. SG Americas, Inc., et al n/a 9/2/2011 www.mortgagedaily.com/LawsuitsFhfa090611.asp�              www.mortgagedaily.com/LawsuitsFhfa090211.asp
The Royal bank of Scotland Group PLC, et al Federal Housing Finance Agency, as Conservator for the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. U.S. District Court for the District of Connecticut n/a 17 different complaints complaints filed against 17 issuers and underwriters of MBS over sour investments made by Fannie and Freddie.   Federal Housing Finance Agency, et al, Plaintiff, -against- The Royal Bank of Scotland Group PLC, et al n/a 9/2/2011 www.mortgagedaily.com/LawsuitsFhfa090611.asp�              www.mortgagedaily.com/LawsuitsFhfa090211.asp
Walnut Place LLC; Bank of America, et al. Bank of New York Mellon, as Trustee under various Pooling and Servicing Agreements and Indenture Trustee under various Indentures, et al. U.S. District Court for the Southern District of New York $8,500,000,000 Settlement w 5/big states being negotiated. Group of pension funds that invested in Countrywide MBS asked to intervene in proposed settlement. NY AG sought to intervene in case to set aside settlement and to pursue BoA for mortgage fraud. Federal judge decided to keep settlement in federal court rather than in state court. A number of major holders of Countrywide Financial Corp. mortgage securities objected to proposed settlement over claims that Countrywide deceived bondholders about the recklessness with which it had funded subprime and other high-risk home loans.   In re Application of Bank of New York Mellon v. Walnut Place LLC, et al. 1:11-cv-05988-WHP 8/26/2011 www.mortgagedaily.com/LitigationMBs070611.aspwww.mortgagedaily.com/MctBoa072311.aspwww.mortgagedaily.com/MctBoaSettlement080311.aspwww.mortgagedaily.com/LitigationMbs081011.asp�www.mortgagedaily.com/MctSettlementBoa083111.asp 
Goldman, Sachs & Co.; Royal Bank of Scotland; JP Morgan Chase National Credit Union Administration U.S. District Court for the Central District of California $491,000,000 NCUA accuses Goldman Sachs of making misleading written and oral statements about the soundness of securities that were purchased by federal credit unions.   National Credit Union Administration Board v. Goldman, Sachs & Co., et. al.  LACV11-6521GHK(PLAx) 9/9/2011 www.mortgagedaily.com/MctLawsuitGoldman080911.asp
WMC Mortgage Corp.; EquiFirst Corp. MASTR Asset Backed Securities Trust 2006-HE3, by U.S. Bank National Association, solely in its capacity as Trustee pursuant to a Pooling and Servicing Agreement, dated as of August 1, 2006 U.S. District Court for the District of Minnesota $200,000,000 Defendants were sued following an investigation by Recovco Mortgage Management LLC, an investor in MASTR Asset Backed Securities Trust 2006-HE3.  The complaint alleges that Defendants, who were originators of the loans that were securitized in the trust, made false representations and warranties regarding the loans. Trustee demanding loan originators buy back non-performing mortgages from securitization trust.  MASTR Asset Backed Securities Trust 2006-HE3, by U.S. Bank N.A., v. WMC Mort. Corp. et al.  No. 0:11-cv-02542 9/2/2011 www.mortgagedaily.com/LitigationMbs090711.asp� 
Michael Perry FDIC U.S. District Court for the District of Columbia n/a FDIC complaint alleging negligence in connection with failure of IndyMac Bank. FDIC v. Perry 2:11-cv-055610ODW-MRW  7/6/2011 www.mortgagedaily.com/mctmichaelperry091211.asp
Michael Perry; A. Scott Keys Securities and Exchange Commission U.S. District Court for the District of Columbia n/a SEC complaint alleging violation of securities laws in connection with failure of IndyMac Bank. SEC v. Perry No. CV01309 ghk 2/11/2011 www.mortgagedaily.com/mctmichaelperry091211.asp
Bank of America Corp., et al. American International Group Inc., et. al. New York State Supreme Court, County of New York $10,000,000,000 AIG says Bank of America and its subsidiaries Countrywide and Merrill Lynch misrepresented the quality of mortgages it sold to investors.  As a result, AIG said it lost $28 billion in investments.  American International Group, et al v. Bank of America Corp. et al.  652199/2011 8/8/2011 www.mortgagedaily.com/MctLawsuitGoldman080911.aspwww.mortgagedaily.com/LitigationInvestor092811.asp, www.mortgagedaily.com/MctLawsuitBoaAig080811.asp
Douglas Brandewie United States n/a $10,000,000 A criminal information filed in June charges Douglas E. Brandewie with making a false statement to the FDIC.  United States v. Brandewie 11-20367 n/a www.mortgagedaily.com/litigationcriminal072511.asp
Countrywide Home Loans, Inc.; Bank of America Corp.  Joel L. Sher; Trustee U.S. Bankruptcy Court for the District of Maryland n/a Bank trustee for Thornburg Mortgage sues BoA for breach of mortgage loan purchase agreements; demanding Countrywide repurchase loans violating reps and warranties of purchase agreement. BoA filed a motion to dismiss. In re TMST., Inc. 09-17787 4/29/2011 www.mortgagedaily.com/LitigationInvestor092811.asp
Deloitte & Touche LLP Taylor Bean & Whitaker; Ocala Funding Circuit Court of the 11th Judicial Circuit, Miami-Dade County $7,600,000 Accounting firm sued in conjunction with bankruptcy of mortgage lender Taylor Bean & Whitaker, alleging that negligent audits contributed to failure of company.  Luria v. Deloitte & Touche LLP n/a n/a www.mortgagedaily.com/LitigationInvestor092811.asp
Financial Resources Mortgage Inc. Bankruptcy Trustee Sevent Notinger Al and Susan McIlvene U.S. Bankruptcy Court $155,000 Settlement of bankruptcy claim. na na na www.mortgagedaily.com/LitigationInvestor092811.asp
William Miller, Gregory Ehlinger, Thomas Washburn Elliott Levin, Bankruptcy Trustee of Irwin Financial Corp. U.S. District Court for the Southern District of Indiana $198,000,000 Suit against former officers of failed bank alleging breach of fiduciary duties in connection with marketing subprime mortgages Irwin, trustee, v. Miller et al.  n/a n/a www.mortgagedaily.com/mctlawsuitirwin092411.asp
Kerry Killinger; Stephen Rotella; David Schneider; Linda Killinger; Esther Rotella FDIC U.S. District Court for the Western District of Washington $64,721,195 Settlement discussions between former Washington Mutual executives and the FDIC broke down and the defendants filed a motion to dismiss FDIC’s case. FDIC v. Killinger, et al. 2:2011-cv-00459 3/16/2011 www.mortgagedaily.com/MctLawsuitFDICWamu070511.aspwww.mortgagedaily.com/LitigationInvestor122611.asp, www.mortgagedaily.com/MctSettlementWamu070211.aspwww.mortgagedaily.com/MctLawsuitGoldman080911.asp
Bank of America, NA; Pablo Araque; Does 1-100 Patricia Arreola et al Los Angeles Superior Court – Central Civil West $30,000,000 Class Action plaintiffs are Latino families in California alleging ponzi scheme run by Juan Rangel which involved, among other things, a mortgage fraud scheme targeting homeowners with equity in the home but behind on their payments. BoA was sued for providing material assistance to the ponzi scheme.  Arreola v. Bank of America N.A. et al BC464530 6/30/11 www.mortgagedaily.com/LitigationInvestor092811.asp
David Rubin, Joshua Gould United States U.S. District Court for Missouri $4,700,000 Rubin pled guilty to one felony count of wire fraud. Gould pled guilty to one felony count of wire fraud and one felony count of mail fraud. n/a n/a n/a www.mortgagedaily.com/litigationcriminal072511.asp
Frederick Darren Berg United States of America U.S. District Court for the Western District of Washington $100,000,000 Judge Richard A. Jones ruled that Berg would not be allowed to leave federal prison in order to use a more sophisticated computer for his defense.  Berg is accused of running a Ponzi scheme worth $100 million from his former firm, Meridian Mortgage funds. United States v. Berg 2:10-cr-00310-RAJ 10/14/2010 www.mortgagedaily.com/MctMeridian071411.asp
Kurt Branham Barton United States U.S. District Court for the Western District of Texas $50,000,000 A jury convicted Barton of operating a Ponzi scheme that cost 300 individuals more than $50 million.  Barton was the founder, president and chief executive officer of Triton Financial LLC.  United States v. Barton 1:11-cr-00083-LY 2/15/2011 www.mortgagedaily.com/LitigationCriminal082411.asp� 
Marcilin Anne Benvin United States U.S. District Court for the District of Nevada $35,000,000 Benvin was indicted on 50 counts over allegations that she defrauded investors between 2004 and 2008 by deceiving them about the conditions and purposes of the loan, and provided fraudulent documents so that she could collect roughly 3 percent in origination fees as a mortgage broker. United States v. Benvin n/a 8/182011 www.mortgagedaily.com/LitigationCriminal082411.asp�  
Philip Lochmiller Sr., Philip Lochmiller Jr., Shawnee Carver United States of America U.S. District Court $30,000,000 On July 21, a jury found Philip Lochmiller guilty of conspiracy, money laundering and mail fraud in connection with a ponzi scheme. Lochmiller Jr. pled guilty to conspiracy, money laundering conspiracy and mail fraud. Carver pled guilty to conspiracy, money laundering conspiracy and mail fraud. na na Guilty Conviction on July 21 www.mortgagedaily.com/Fraud/PressReleaseLochmillerGuilty072111.asp, www.mortgagedaily.com/litigationcriminal072511.asp
Robert Stinson Jr. United States U.S. District Court for the Eastern District of Pennsylvania $17,000,000 More than 260 investors lost over $17 million in a Ponzi scheme operated by Stinson, who allegedly solicited investors with fraudulent promises of returns between 10 and 16 percent.  Stinson pleaded guilty to the charges outlined in a 26-count indictment. United States v. Stinson 10-cr-0724 11/4/2010 www.mortgagedaily.com/LitigationCriminal082411.asp�  
Sonoma Valley Bank; Brian Melland; Bijan Madjlessi United States U.S. District Court for the Northern District of California. $14,000,000 A federal grand jury is sifting through the collapse of Sonoma Valley Bank, but no criminal charges have been filed. n/a n/a n/a www.mortgagedaily.com/mctsonomavalleybank072411.asp
FDIC & Grant Thornton, LLP (joint stipulation) FDIC & Grant Thornton, LLP (joint stipulation) U.S. District Court, Southern District of West Virginia & 4th Circuit Court of Appeals $23,306,618 Settlement was reached with auditors of failed First National Bank of Keystone when the parties of the last outstanding federal civil complaint against the bank entered a joint stipulation.  Grant Thornton, LLP v. Federal Deposit Insurance Corporation 1:00-0655 & 1:03-2129 n/a www.mortgagedaily.com/MctSettlementKeystone080811.asp
Lee Bentley Farkas United States U.S. District Court for the Eastern District of Virginia n/a Farkas, former Taylor bean and Whitaker Mortgage chairman, is appealing his sentence to 30 years in prison on 14 criminal counts of conspiracy, bank, wire and securities fraud. n/a n/a n/a www.mortgagedaily.com/litigationcriminal072511.asp
UBS Americas Inc.; UBS Real Estate Securities Inc.; UBS Securities, LLC; Mortgage Asset Securitization Transactions, Inc.; David Martin; Per Dyrvik; Hugh Corcoran; Peter Slagowitz Federal Housing Finance Agency as Conservator for the Federal National Mortgage Association; The Federal Home Loan Mortgage Corporation U.S. District Court for the Southern District of New York $4,500,000,000 The FHFA filed a lawsuit on behalf of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. alleging the defendants made numerous material misstatements and omissions about the mortgage loans underlying the private-label MBS’ they sold, in violation of federal securities laws.  Federal Housing Finance Agency, as Conservator for the Federal National Mortgage Association et al. v. UBS Americas Inc. et al. 11 CIV 5201 7/27/2011 www.mortgagedaily.com/lawsuitfhfavsubs072711.asp
3rd quarter 2011 investor lawsuits

2nd quarter 2011 investor lawsuits

1st quarter 2011 investor lawsuits

4th quarter 2010 investor lawsuits

3rd quarter 2010 investor lawsuits

2nd quarter 2010 investor lawsuits

1st quarter 2010 investor lawsuits

4th quarter 2009 investor lawsuits

3rd quarter 2009 investor lawsuits

2nd quarter 2009 investor lawsuits

1st quarter 2009 investor lawsuits

4th quarter 2008 investor lawsuits

3rd quarter 2008 investor lawsuits

2nd quarter 2008 investor lawsuits

1st quarter 2008 investor lawsuits

full year 2007 investor lawsuits

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...

Newsletter

Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts

THE TRUSTED PROVIDER OF ACCURATE RATES AND FINANCIAL INFORMATION