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MBS Lawsuits – Fourth-Quarter 2012 Mortgage Litigation Index

MBS Lawsuits

Fourth-Quarter 2012 Mortgage Litigation Index

 

Lawsuits related to mortgage-backed securities.

 

Defendant
Plaintiff
Court
Amount
Overview
Case Title
Case Number
Date Filed Date of Activity Link to Story
BANK OF AMERICA, N.A., Countrywide Financial Corp., Countrywide Home Loans Inc., ReconTrust Co., Bank of New York Mellon, the Federal National Mortgage Association, Wells Fargo Bank, U.S. Bank, Bank of the West and HSBC Bank CARLA VISENDI Superior Court of California, County of Sacramento; U.S. District Court for the Eastern District of California na Motions to dismiss denied. Case remanded to Superior court. CARLA VISENDI, et al., Plaintiffs, v. BANK OF AMERICA, N.A., Defendants 2:11-cv-02413-MCE-GGH na 12/20/2012 www.mortgagedaily.com/LitigationModifications020513.asp
Residential Capital LLC NEW JERSEY CARPENTERS HEALTH FUND, NEW JERSEY CARPENTERS VACATION FUND And BOILERMAKER BLACKSMITH NATIONAL PENSION TRUST, on Behalf of Themselves and All Others Similarly Situated, Plaintiffs U.S. District Court for the Southern District of New York na Class certification granted. NEW JERSEY CARPENTERS HEALTH FUND, NEW JERSEY CARPENTERS VACATION FUND And BOILERMAKER BLACKSMITH NATIONAL PENSION TRUST, on Behalf of Themselves and All Others Similarly Situated, Plaintiffs, v. RESIDENTIAL CAPITAL, LLC, et al., Defendants 08 CV 8781 (HB) na 10/15/2012 www.mortgagedaily.com/LitigationMbsResCap110712.asp
Royal Bank of Scotland NEW JERSEY CARPENTERS HEALTH FUND, NEW JERSEY CARPENTERS VACATION FUND And BOILERMAKER BLACKSMITH NATIONAL PENSION TRUST, on Behalf of Themselves and All Others Similarly Situated, Plaintiffs U.S. District Court for the Southern District of New York na Class certification granted. na 08 Civ. 5093 na 10/15/2012 www.mortgagedaily.com/LitigationMbsResCap110712.asp
ALLY FINANCIAL INC. FEDERAL HOUSING FINANCE AGENCY U.S. District Court for the Southern District of New York na Several claims dismissed. FEDERAL HOUSING FINANCE AGENCY, etc., Plaintiff, v. ALLY FINANCIAL INC., et al., Defendants 11 Civ. 7010 (DLC) na 12/19/2012 www.mortgagedaily.com/LitigationMbsFHFA011313.asp
Bank of America Pennsylvania school pension fund U.S. District Court for the Southern District of New York na Defendant’s request to dismiss denied. na na na Q3 https://www.mortgagedaily.com/LitigationMbs110712.asp
BANK OF AMERICA CORP., NB HOLDINGS CORP., COUNTRYWIDE FINANCIAL CORP., COUNTRYWIDE HOME LOANS, INC., BAC HOME LOANS SERVICING LP f/k/a COUNTRYWIDE HOME LOANS SERVICING LP, CWALT, INC., CWMBS, INC., CWABS, INC., CWHEQ, INC., and COUNTRYWIDE SECURITIES CORP. PHOENIX LIGHT SF LIMITED, SILVER ELMS CDO PLC, SILVER ELMS II LTD, KLEROS PREFERRED FUNDING V PLC, BLUE HERON FUNDING II LTD., BLUE HERON FUNDING V LTD., and BLUE HERON FUNDING IX LTD Supreme Court of the State of New York County of New York $122,183,462 Complaint filed. PHOENIX LIGHT SF LIMITED, SILVER ELMS CDO PLC, SILVER ELMS II LTD, KLEROS PREFERRED FUNDING V PLC, BLUE HERON FUNDING II LTD., BLUE HERON FUNDING V LTD., and BLUE HERON FUNDING IX LTD., Plaintiffs, -against- BANK OF AMERICA CORP., NB HOLDINGS CORP., COUNTRYWIDE FINANCIAL CORP., COUNTRYWIDE HOME LOANS, INC., BAC HOME LOANS SERVICING LP f/k/a COUNTRYWIDE HOME LOANS SERVICING LP, CWALT, INC., CWMBS, INC., CWABS, INC., CWHEQ, INC., and COUNTRYWIDE SECURITIES CORP., Defendants 653916/2012 11/13/2012 11/13/2012 www.mortgagedaily.com/LitigationMbsBoa011313.asp
BANK OF AMERICA CORPORATION; BANK OF AMERICA, N.A.; COUNTRYWIDE FINANCIAL CORPORATION; COUNTRYWIDE SECURITIES CORPORATION; COUNTRYWIDE CAPITAL MARKETS, LLC; COUNTRYWIDE HOME LOANS, INC.; CWABS, INC.; CWHEQ, INC.; MERRILL LYNCH & CO., INC.; MERRILL LYNCH, PIERCE, FENNER & SMITH, INC. (f/k/a BANC OF AMERICA SECURITIES LLC); MERRILL LYNCH MORTGAGE LENDING INC.; and MERRILL LYNCH MORTGAGE INVESTORS, INC. HSH NORDBANK AG; HSH NORDBANK AG, LUXEMBOURG BRANCH; HSH NORDBANK AG, NEW YORK BRANCH; HSH NORDBANK SECURITIES S.A.; and CARRERA CAPITAL FINANCE LIMITED Supreme Court of the State of New York County of New York $218,144,000 Complaint filed. HSH NORDBANK AG; HSH NORDBANK AG, LUXEMBOURG BRANCH; HSH NORDBANK AG, NEW YORK BRANCH; HSH NORDBANK SECURITIES S.A.; and CARRERA CAPITAL FINANCE LIMITED, Plaintiffs, -against- BANK OF AMERICA CORPORATION; BANK OF AMERICA, N.A.; COUNTRYWIDE FINANCIAL CORPORATION; COUNTRYWIDE SECURITIES CORPORATION; COUNTRYWIDE CAPITAL MARKETS, LLC; COUNTRYWIDE HOME LOANS, INC.; CWABS, INC.; CWHEQ, INC.; MERRILL LYNCH & CO., INC.; MERRILL LYNCH, PIERCE, FENNER & SMITH, INC. (f/k/a BANC OF AMERICA SECURITIES LLC); MERRILL LYNCH MORTGAGE LENDING INC.; and MERRILL LYNCH MORTGAGE INVESTORS, INC., Defendants INDEX NO. 654382/2012 12/14/2012 12/14/2012 www.mortgagedaily.com/LitigationMbsBoa011313.asp
BEAR, STEARNS & CO., INC n/k/a J.P. MORGAN SECURITIES, LLC; STRUCTURED ASSET MORTGAGE INVESTMENTS II, INC.; BEAR STEARNS ASSET BACKED SECURITIES I, LLC; and INDYMAC MBS, INC. NATIONAL CREDIT UNION ADMINISTRATION BOARD U.S. District Court for the District of Kansas $3,600,000,000 Complaint filed. NATIONAL CREDIT UNION ADMINISTRATION BOARD, as Liquidating Agent of U.S. Central Federal Credit Union, Western Corporate Federal Credit Union, Southwest Corporate Federal Credit Union, and of Members United Corporate Federal Credit Union, Plaintiff, v. BEAR, STEARNS & CO., INC n/k/a J.P. MORGAN SECURITIES, LLC; STRUCTURED ASSET MORTGAGE INVESTMENTS II, INC.; BEAR STEARNS ASSET BACKED SECURITIES I, LLC; and INDYMAC MBS, INC. Defendants na 12/14/2012 12/14/2012 www.mortgagedaily.com/LitigationMbsRegulatory011313.asp
Capital One, N.A. Ambac Assurance Corp. U.S. District Court for the Southern District of New York na Complaint filed. na na 10/24/2012 10/24/2012 www.mortgagedaily.com/LitigationMbs011313.asp
Citigroup Inc. Sealink Funding Limited Supreme Court of the State of New York County of New York $513,331,000 Complaint filed.  SEALINK FUNDING LIMITED, Plaintiff, – against – CITIGROUP INC., CITIGROUP GLOBAL MARKETS INC., CITIGROUP MORTGAGE LOAN TRUST INC. and CITIGROUP GLOBAL MARKETS REALTY CORP., Defend 653844/2012 11/7/2012 11/7/2012 www.mortgagedaily.com/LitigationMbs011313.asp
COMMONWEALTH ADVISORS, INC., WALTER A. MORALES Securities and Exchange Commission U.S. District Court for the Middle District of Louisiana $32,000,000 Complaint filed. U.S. SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. COMMONWEALTH ADVISORS, INC. and WALTER A. MORALES, Defendants na 11/8/2012 11/8/2012 www.mortgagedaily.com/LitigationMbsRegulatory011313.asp
Countrywide Financial Federal Deposit Insurance Corp. U.S. District Court, Central District of California na Judge is no longer convinced that a California state court case extended the statute of limitation of claims brought in federal court. FDIC v. Countrywide Financial 12-4354 na 11/21/2012 www.mortgagedaily.com/InvestorLawsuits4q2012.asp
Credit Suisse Securities (USA) LLC, f/d/a “Credit Suisse First Boston LLC,” DLJ Mortgage Capital, Inc., Credit Suisse First Boston Mortgage Securities Corporation, Asset Backed Securities Corporation and Credit Suisse Mortgage Acceptance Corporation State of New York Supreme Court of the State of New York County of New York $11,200,000,000 Complaint filed. People of the State of New York, by Eric T. Schneiderman, Attorney General of the State of New York, Plaintiff, – against – Credit Suisse Securities (USA) LLC, f/d/a “Credit Suisse First Boston LLC,” DLJ Mortgage Capital, Inc., Credit Suisse First Boston Mortgage Securities Corporation, Asset Backed Securities Corporation and Credit Suisse Mortgage Acceptance Corporation, Defendants Index No. 451802/20122 11/20/2012 11/20/2012 www.mortgagedaily.com/LitigationMbsRegulatory011313.asp
Credit Suisse Securities, RBS Securities, Greenwich Capital Acceptance and Structured Asset Mortgage Investments Genesee County Employees’ Retirement System, Maryland National Capital Park & Planning Commission Employees’ Retirement System, the Midwest Operating Engineers Pension Fund U.S. District Court for the District of New Mexico $11,500,000 Settlement approved. na na March 2009 12/10/2012 www.mortgagedaily.com/LitigationMbs011313.asp
DEUTSCHE BANK AG; DEUTSCHE BANK SECURITIES, INC.; DB STRUCTURED PRODUCTS INC.; DEUTSCHE ALT-A SECURITIES INC.; and MORTGAGE IT SECURITIES CORPORATION LANDESBANK BADEN-WÜRTTEMBERG and SPENCERVIEW ASSET MANAGEMENT LTD. Supreme Court of the State of New York County of New York $173,000,000 Complaint filed. LANDESBANK BADEN-WÜRTTEMBERG and SPENCERVIEW ASSET MANAGEMENT LTD., Plaintiffs, v. DEUTSCHE BANK AG; DEUTSCHE BANK SECURITIES, INC.; DB STRUCTURED PRODUCTS INC.; DEUTSCHE ALT-A SECURITIES INC.; and MORTGAGE IT SECURITIES CORPORATION, Defendants INDEX NO. 654543/2012 12/27/2012 12/27/2012 www.mortgagedaily.com/LitigationMbs011313.asp
DLJ Mortgage Capital Inc., Credit Suisse Securities (USA) LLC  Assured Guaranty Municipal Corp. Supreme Court of the State of New York County of New York na Three causes of action dismissed. Assured Guaranty Municipal Corp. f/k/a Financial Security Assurance, Inc., Assured Guaranty Corp., Plaintiffs, -against- DLJ Mortgage Capital, Inc. and Credit Suisse Securities (USA), LLC, Defendants 652837-2011E 10/17/2011 10/11/2012 www.mortgagedaily.com/LitigationMbs110712.asp
Flagstar Bank FSB, Flagstar Capital Markets Corporation, and Flagstar ABS, LLC Assured Guaranty Municipal Corp., f/k/a Financial Security Assurance Inc. U.S. District Court for the Southern District of New York na Closing arguments presented, joint proposed pre-trial order filed. Assured Guaranty Municipal Corp., f/k/a Financial Security Assurance Inc., Plaintiff, vs. Flagstar Bank, FSB; Flagstar Capital Markets Corporation; and Flagstar ABS, LLC, Defendants 173796 4/7/2011 Nov. 2012 www.mortgagedaily.com/LitigationMbs011313.aspwww.mortgagedaily.com/LitigationMbs110712.asp
GOLDMAN SACHS GROUP, INC. PUBLIC EMPLOYEES’ RETIREMENT SYSTEM OF MISSISSIPPI U.S. District Court for the Southern District of New York na Settlement proposed. PUBLIC EMPLOYEES’ RETIREMENT SYSTEM OF MISSISSIPPI, Individually and On Behalf of All Others Similarly Situated, Plaintiff, v. GOLDMAN SACHS GROUP, INC., et al., Defendants 09-CV-1110-HB na Q4 www.mortgagedaily.com/LitigationMbsGoldman110712.asp
J.P. Morgan Securities LLC (formerly known as Bear Stearns & Co. Inc.), JP Morgan Chase Bank, N.A., and EMC Mortgage LLC (formerly known as EMC Mortgage Corporation)  State of New York New York State Supreme Court $22,500,000,000 Complaint filed. PEOPLE OF THE STATE OF NEW YORK, by ERIC T. SCHNEIDERMAN, Attorney General of the State of New York, Plaintiff, – against – J.P. MORGAN SECURITIES LLC, (f/k/a “Bear, Stearns & Co. Inc.”), JPMORGAN CHASE BANK, N.A., EMC MORTGAGE LLC (f/k/a “EMC Mortgage Corporation”), Defendants. na 10/2/2012 10/2/2012 www.mortgagedaily.com/MbsLawsuits4q2012.aspwww.mortgagedaily.com/MctSettlementsSec111812.asp
J.P. Morgan Securities LLC, EMC Mortgage LLC  Prudential Insurance Company of America U.S. District Court for the District of New Jersey, New Jersey’s Essex County Superior Court na Case remanded to state court. na na April 2012 12/20/2012 www.mortgagedaily.com/LitigationMbs011313.asp
RBS Financial Products State of Nevada Eighth Judicial District Court $42,000,000 Settlement reached. na na na 10/24/2012 www.mortgagedaily.com/LitigationMbs110712.asp
RBS Securities Inc Woori Bank U.S. District Court for the Southern District of New York $80,000,000 Case dismissed. Woori Bank v. RBS Securities Inc et al 12-04254 na 12/27/2012 www.mortgagedaily.com/LitigationMbs011313.asp
Standard & Poor’s Financial Services LLC, Moody’s Investors Service Inc. and Fitch Inc. OHIO POLICE & FIRE PENSION FUND; OHIO PUBLIC EMPLOYEES RETIREMENT SYSTEM; STATE TEACHERS RETIREMENT SYSTEM OF OHIO; SCHOOL EMPLOYEES RETIREMENT SYSTEMS OF OHIO; OHIO PUBLIC EMPLOYEES DEFERRED COMPENSATION PROGRAM U.S. Court of Appeals for the Sixth Circuit, U.S. District Court for the Southern District of Ohio $457,000,000 Appeals court upholds dismissal of lawsuit. OHIO POLICE & FIRE PENSION FUND; OHIO PUBLIC EMPLOYEES RETIREMENT SYSTEM; STATE TEACHERS RETIREMENT SYSTEM OF OHIO; SCHOOL EMPLOYEES RETIREMENT SYSTEMS OF OHIO; OHIO PUBLIC EMPLOYEES DEFERRED COMPENSATION PROGRAM, Plaintiffs-Appellants, v. STANDARD & POOR’S FINANCIAL SERVICES LLC; THE MCGRAW-HILL COMPANIES, INC.; MOODY’S CORP.;MOODY’S INVESTORS SERVICE, INC.; FITCH, INC., Defendants-Appellees 2:09-cv-1054 na 12/3/2012 www.mortgagedaily.com/LitigationMbs011313.asp
WMC Mortgage LLC trustee of Securitized Asset Backed Receivables LLC Trust 2006-WM2 U.S. District Court $1,000,000,000 Complaint filed. na na 10/29/2012 10/29/2012 www.mortgagedaily.com/LitigationMbs110712.asp
WMC Mortgage LLC and General Electric Capital Corp. Deutsche Bank National Trust Co. Connecticut District Court, New Haven Office $390,000,000 Complaint filed. Deutsche Bank National Trust Company v. WMC Mortgage LLC and General Electric Capital Corporation 3:2012cv01699 11/30/2012 11/30/2012 www.mortgagedaily.com/LitigationMbs011313.asp
JPMorgan Chase & Co. New York Attorney General New York Surpreme Court na Complaint filed. na na 10/1/2012 10/1/2012 www.mortgagedaily.com/MctLawsuitChaseMbs100212.asp
Bank of America United States of America na na Complaint filed in case invovling Fannie Mae and Freddie Mac loans. na na na October www.mortgagedaily.com/MctSettlementsSec111812.asp
Credit Suisse Securities and Exchange Commission na $120,000,000 Settlement reached. In the Matter of Credit Suisse Securities (USA) LLC; DLJ Mortgage Capital, Inc.; Credit Suisse First Boston Mortgage Acceptance Corp.; Credit Suisse First Boston Mortgage Securities Corp.; and Asset Backed Securities Corporation Respondents Administrative Proceeding File No. 3-15098 11/16/2012 11/16/2012 www.mortgagedaily.com/MctSettlementsSec111812.aspwww.mortgagedaily.com/LitigationMbsRegulatory011313.asp
J.P. MORGAN SECURITIES LLC, EMC MORTGAGE, LLC, BEAR STEARNS ASSET BACKED SECURITIES I, LLC, STRUCTURED ASSET MORTGAGE INVESTMENTS II, INC., SACO I, INC., AND J.P. MORGAN ACCEPTANCE CORPORATION I Securities and Exchange Commission U.S. District Court for the District of Columbia $296,900,000 Settlement reached. UNITED STATES SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. J.P. MORGAN SECURITIES LLC, EMC MORTGAGE, LLC, BEAR STEARNS ASSET BACKED SECURITIES I, LLC, STRUCTURED ASSET MORTGAGE INVESTMENTS II, INC., SACO I, INC., AND J.P. MORGAN ACCEPTANCE CORPORATION I, Defendants na na 11/16/2012 www.mortgagedaily.com/LitigationMbsRegulatory011313.aspwww.mortgagedaily.com/MctSettlementsSec111812.asp
GreenPoint Mortgage Funding Inc. CIFG Assurance North America Inc. Supreme Court of the State of New York County of New York $58,000,000 Complaint filed. CIFG Assurance North America Inc., Plaintiff, – against – GreenPoint Mortgage Funding, Inc., Defendant Index No. 653449/2012 10/1/2012 10/1/2012 www.mortgagedaily.com/LitigationMbs110712.aspwww.mortgagedaily.com/LitigationMbsGoldman110712.asp
HSBC Finance Corp. as Successor-in-Interest to Decision One Federal Housing Finance Agency U.S. District Court for the Southern District of New York na Case closed. Case had been removed to federal court on 10/19/12. Federal Housing Finance Agency v. HSBC Finance Corp. as Successor-in-Interest to Decision One 12-cv-7809 9/26/2009 12/5/2012 www.mortgagedaily.com/LitigationRepurchases021113.asp
MERRILL LYNCH MORTGAGE LENDING, INC., MERRILL LYNCH MORTGAGE INVESTORS, INC., BANK OF AMERICA, NATIONAL ASSOCIATION MERRILL LYNCH MORTGAGE INVESTORS TRUST, SERIES 2006-RM4, MERRILL LYNCH MORTGAGE INVESTORS TRUST, SERIES 2006-RM5 Supreme Court of the State of New York County of New York $1,100,000,000 Complaint filed. MERRILL LYNCH MORTGAGE INVESTORS TRUST, SERIES 2006-RM4, MERRILL LYNCH MORTGAGE INVESTORS TRUST, SERIES 2006-RM5, Plaintiffs, -against- MERRILL LYNCH MORTGAGE LENDING, INC., MERRILL LYNCH MORTGAGE INVESTORS, INC., BANK OF AMERICA, NATIONAL ASSOCIATION, Defendants Index No. 654403/2012 12/18/2013 12/18/2013 www.mortgagedaily.com/LitigationMbsBoa011313.asp
WMC Mortgage Corp. U.S. Bank, N.A. U.S. District Court for the District of Minnesota na Motion to dismiss granted. MASTR Asset Backed Securities Trust 2006-HE3 v. WMC Mortgage Corporation 11-2542, 2012 WL 4511065 Sep. 2011 10/1/2012 www.mortgagedaily.com/LitigationMbs011313.asp

Q3 2012 MBS lawsuits

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4th quarter 2010 MBS lawsuits

3rd quarter 2010 MBS lawsuits

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1st quarter 2010 MBS lawsuits

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3rd-quarter 2009 MBS lawsuits

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4th-quarter 2008 MBS lawsuits

full year 2007 MBS lawsuits

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