Items Tagged with 'Adam Levitin'


  • BofA, the MBS unwind, and the other side of the coin

    The newest fight in the mess that is now the U.S. foreclosure process is a real doozy. It's the idea that securitization trusts may not actually own their own mortgages, and therefore have no standing to foreclose. A recent case involving Bank of America [stock BAC][/stock] in a New Jersey bankruptcy lit the most recent fire, after reporter Kate Berry at American Banker first reported on a ruling in the case on Nov. 22.
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  • Cramdown Legislation Hits Senate Roadblock

    A hotly-contested legislative proposal that would allow bankruptcy judges to modify mortgage debt in certain bankruptcy cases appears to be losing momentum in the U.S. Senate, various sources said this week. So-called 'cramdown' legislation, which passed a key vote in the House of Representatives in early March, has been facing much stiffer opposition in the Senate and has forced the Senate bill 61's primary sponsor, Richard Durbin (D-IL), to back away from a harsher stance he had taken with respect to the cramdown proposal.
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  • Commentary: More on Bankruptcy Cram-Downs

    The MBA has claimed that allowing cram-downs in Ch. 13 bankruptcy proceedings could add as much as two points to mortgage rates. Adam Levitin, an associate professor of law at Georgetown, and Joshua Goodman, an economics doctoral candidate at Columbia, have authored a study that they claim proves that allowing modifications in Ch.13 bankruptcy proceedings would not result in an interest rate spike.
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