Assured Guaranty Municipal Corp. v. Flagstar Bank, FSB et al

  1. June 21, 2013

    Flagstar To Pay $105M To End Assured's MBS Suit

    Flagstar Bancorp Inc. has agreed to pay $105 million and take responsibility for future claims to end Assured Guaranty Municipal Corp.'s New York federal court suit alleging Flagstar had misrepresented home equity loans underlying nearly $1 billion in residential mortgage-backed securities, the companies announced Friday.

  2. February 07, 2013

    Assured's MBS Win May Force Wave Of Bank Settlements

    Assured Guaranty Corp.'s $90.1 million victory over a Michigan bank it accused of misrepresenting the quality of roughly $900 million in residential mortgage-backed securities covered by Assured could open the floodgates for similar litigation and leave global banks facing comparable suits far more inclined to settle, experts said Thursday.

  3. February 06, 2013

    Assured's $90M Win Gives Insurers Ammo Against Banks

    A ruling for a monoline insurer in its contract suit against a Michigan bank over home loans backing nearly $1 billion in mortgage-backed securities sets a precedent for monoline insurers to use statistical samples of loan pools to prove liability and damages, insurance and banking attorneys said Wednesday.

  4. February 05, 2013

    Assured Wins $1B MBS Contract Suit Against Flagstar

    A New York federal court on Tuesday granted judgment in favor of Assured Guaranty Municipal Corp. in its contract suit over Flagstar Bank FSB's approval of home equity loans behind nearly $1 billion in mortgage-backed securities, awarding the insurer $90.1 million in damages plus interest and attorneys' fees.

  5. November 08, 2012

    Judge Grills Flagstar Expert On Loan Review In $1B MBS Suit

    In hearing a New York insurer's contract suit against Flagstar Bank FSB over home loans behind nearly $1 billion in mortgage-backed securities, a New York federal judge on Thursday pressed an expert witness for the bank to explain why the performance of the loans had any bearing on the case.

  6. November 07, 2012

    Witness Defends Flagstar Loan Practices In $1B MBS Suit

    A mortgage loan expert witness for Flagstar Bank testified in New York federal court Tuesday that the bank's loan underwriting practices were sound, rebutting the claims of a New York insurer in its contract suit against the bank over nearly $1 billion in mortgage-backed securities.

  7. October 26, 2012

    Flagstar Docs Back Up Borrower's Job Claim In $1B MBS Suit

    A purportedly fraudulent home loan application underwritten by Flagstar Bank FSB was found to contain accurate employment information, an attorney for the bank said Tuesday in an insurer's suit over nearly $1 billion in mortgage-backed securities issued by the bank.

  8. October 25, 2012

    Flagstar's Experts Blast Assured Witness In $1B MBS Suit

    Two expert witnesses for Flagstar Bank FSB on Thursday attacked the report of a critical expert for Assured Guaranty Municipal Corp. in its contract suit in New York federal court against Flagstar over nearly $1 billion in mortgage-backed securities, calling it unprofessional and incorrect.

  9. October 23, 2012

    Flagstar Expert Rebuts Insurer's Claims In $1B MBS Row

    An expert witness for Flagstar Bank FSB testified in New York federal court Tuesday that an expert's analysis of hundreds of home equity loans in an insurer's contract suit over nearly $1 billion in mortgage-backed securities the bank issued is flawed and unreliable.

  10. October 22, 2012

    Judge In $1B MBS Contract Row Presses Flagstar Exec On Loans

    A New York federal judge grilled a Flagstar Bank FSB underwriting executive Monday about a purportedly fraudulent home loan application approved by Flagstar in a contract suit by a New York insurer over nearly $1 billion in mortgage-backed securities issued by the bank.