A look at Biden’s first week in office

This episode reviews last week’s inauguration of President Joe Biden, examining which housing issues the new administration has already taken action on.

Biden’s executive order will extend foreclosure moratorium

President Biden revealed his plan to sign 17 executive orders his first day in office, including am extension of the eviction and foreclosure moratorium to at least March 31.

How servicers continue to protect neighborhoods amid COVID

We spoke with MCS CEO Caroline Reaves about self-service technology, the shift to virtual and how servicers can prepare for post-COVID success by improving processes today.

HomeBridge’s Brian White on diversity at a practical level

HomeBridge's Brian “Woody” White discusses ways to increase diversity within the housing finance industry.

Investments

Bank of New York Mellon: $8.5bn settlement an ‘easy decision’

As closing arguments finished yesterday in a two-year long legal battle involving mortgage-bond investors and Bank of America Corp. (BAC), the attorney for Bank of New York Mellon Corp (BK) offered a final view on a contentious settlement:

The $8.5 billion settlement reached with Bank of America Corp., gave mortgage-bond investors more than twice what they would have recovered through litigation and was an “easy decision,” an attorney for the trustee who negotiated the deal said.

Matthew Ingber of Mayer Brown LLP in New York, who represented the trustee,Bank of New York Mellon Corp., yesterday asked New York State Supreme Court Justice Barbara Kapnick in Manhattan to approve the settlement during closing arguments of a hearing on the agreement.

The closing arguments mark the latest chapter in a winding legal battle that arose after RMBS trustees agreed to settlement of damage claims involving legacy Countrywide securities, only to see the settlement challenged in court by a separate group of investors who felt the settlement amount wasn't enough.

The case is now awaiting judge's opinion, and given the history of the case — we'd expect whatever ruling is handed down to be appealed.

Most Popular Articles

Biden’s executive order will extend foreclosure moratorium

President Biden plans to sign 17 executive orders his first day in office, including an extension of the eviction and foreclosure moratorium.

Jan 20, 2021 By

Latest Articles

SitusAMC acquires Assimilate Solutions

Technology firm SitusAMC announced its acquisition of mortgage and title outsourcer Assimilate Solutions on Monday – it’s second acquisition in January.

Jan 25, 2021 By
3d rendering of a row of luxury townhouses along a street

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