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New York’s Appellate Division, First Department intermediate appellate court affirmed the denial of Merrill Lynch’s motion to dismiss a repurchase suit.

On August 15, Judge Harold Baer, Jr. of the District Court for the Southern District of New York denied UBS Real Estate Securities Inc.’s motion to dismiss a suit by several RMBS mortgage trusts in connection with the repurchase of $1.6 billion of mortgage loans.

Judge Cote's decision followed a nearly 4-week bench trial that concluded on April 9, 2015.

Justice Friedman of the Supreme Court of the State of New York partially granted Nomura's motion to dismiss a repurchase suit brought by Nomura Asset Corporation Alternative Loan Trust.

On January 14, Judge Katherine B. Forrest of the United States District Court for the Southern District of New York denied a motion for judgment on the pleadings in an action brought by the Bank of New York Mellon as Trustee for GE-WMC Mortgage Securities Trust 2006-1 against GE Mortgage and WMC Mortgage.

The Office of the Comptroller of the Currency ("OCC") issued a Bulletin to remind industry members that the comment period for the proposed rule change to shorten the standard settlement cycle...

On June 26, Moody’s released its methodology for monitoring and rating collateralized debt obligations backed by trust preferred securities (TruPS CDOs).

Judge Martin Glenn denied defendants’ motions to dismiss four adversary proceedings brought by the liquidating trust for Residential Capital LLC against several originators of residential mortgage loans.

On June 18, Royal Park Investments filed a putative class action in the Southern District of New York against Deutsche Bank National Trust Company.

The CFPB continues to make sweeping changes to consumer regulations with little regard for how its rules will affect lenders, credit markets or the very consumers the CFPB was designed to protect.

The Securities and Exchange Commission (SEC) recently proposed a new rule under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act which would prohibit fraud, manipulation, and deception in connection with the offer, purchase or sale of any security-based swap, in the same way that general anti-fraud provisions apply to all securities, and also reach misconduct in connection with the ongoing payments and deliveries of such swaps.

On October 4, 2010, the SEC stayed the effectiveness of its recently adopted Proxy Access Rules (Rule 14a-11, and complementary amendments to Rule 14a-8, under the Securities Exchange Act of 1934) during the pendency of litigation attacking the adoption of the rules.

The Business Roundtable and the U.S. Chamber of Commerce (the Petitioners) filed a petition on September 29, 2010, with the U.S. Court of Appeals for the District of Columbia Circuit seeking review of recent changes to the proxy rules adopted by the Securities and Exchange Commission (the Commission).

On November 16, the Second Circuit Court of Appeals affirmed the District Court's dismissal of a lawsuit brought by Deutsche Bank National Trust Co. (acting as Trustee for RMBS Trust GSR 2007-OA1) against Quicken Loans, alleging that Quicken breached its obligation to repurchase mortgage loans that violated representations and warranties ("R&Ws").

In a matter of first impression, the Fifth Circuit upheld a dismissal by the Northern District of Texas holding that a lender cannot be held vicariously liable ...

Mortgage origination and servicing continue to be a CFPB supervisory focus.

The U.S. Department of the Treasury issued a mortgage reform plan. The "Housing Reform Plan" was developed pursuant to a Presidential Memorandum with the following goals: