A Time for Reflection: the Fifth Anniversary of Lehman Brothers’ Collapse

Sellers of residential mortgage loans face serious financial risks if they sign purchase agreements without careful review. Key provisions on fraud, defaults, materiality, and survival periods can create unlimited liability well beyond any profit earned.

One would think that, as we approach 2021, litigation related to residential mortgage loans originated and sold well over a decade ago would be ancient history. Nevertheless, some suits filed years ago remain active, and, even more surprisingly (and disturbingly), new lawsuits related to loans sold ...

When mortgage-related litigation, including residential mortgage-backed securities (RMBS) lawsuits, erupted after the last financial crisis (the Great Recession of 2008), the litigants recognized that some of their disputes presented issues of “first impression.” That is, the parties’ arguments requ...