Searching Content indexed under Securitization & Structured Finance by Reed Smith ordered by Published Date Descending.
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Massachusetts SJC Reaffirms Decision Sourcing 100% Of Taxpayer's Loans To Massachusetts — Confirms Opportunity For Out-Of-State Financial Institutions
On Friday, August 12, the Massachusetts Supreme Judicial Court reaffirmed its decision in First Marblehead—that a financial institution that is commercially domiciled in Massachusetts can be required to source 100% of its loans to Massachusetts for purposes of computing its property factor numerator.
United States
16 Aug 2016
Fannie Mae's Credit-Risk Transfer Initiatives Approach The Half-Trillion-Dollar-Mark, Reducing Taxpayers' Exposure – But Some Are Recommending More Should Be Done
While the FHFA's conservatorships of Fannie Mae and Freddie Mac are unlikely to end before 2017, the Enterprises continue to transfer more credit risk from their single-family residential mortgages to private insurers.
United States
3 Dec 2015
First Marblehead Requests U.S. Supreme Court Review In SINAA Sourcing Appeal
The case involves the sourcing of securitized loans for property factor purposes under Massachusetts' rules for financial institutions.
United States
5 Jun 2015
Safe Harbors And Securitizations: Loan Payments In Connection With A Commercial Mortgage-Backed Securitization Protected From Clawback Under The U.S. Bankruptcy Code Safe Harbors
Prior to the debtor's bankruptcy filing, the trust made a loan in the amount of $11.2 million to a subsidiary - and insider - of the debtor.
United States
15 May 2015
Can Undue Concentration In Financial Companies Threaten Market Stability? New Federal Reserve Merger And Acquisition Regulation Seeks To Prevent Risk
The Federal Reserve Board issued a final rule prohibiting financial companies from merging if the ratio of the resulting entity’s liabilities would exceed 10 percent of the aggregate consolidated liabilities.
United States
18 Nov 2014
Regulation AB II
The SEC adopted long-awaited revisions to Regulation AB and other rules applicable to the offering of publicly issued asset-backed securities.
United States
12 Sep 2014
New Year, New Troubles For US Regulators: Volcker Rule Challenged Before Federal Courts
It’s been a busy Christmas and New Year’s season for US regulators.
United States
29 Jan 2014
Los Angeles Targets Trustee To Clean-Up Housing Mess
The People of the State of California and The City of Los Angeles (collectively, the "Plaintiff") are seeking to hold Deutsche Bank National Trust Company and Deutsche Bank Trust Company Americas, as trustee under hundreds of mortgaged-backed securitizations (collectively, the "Trustee"), liable for reparations on thousand of homes in the LA County area.
United States
5 Aug 2011
World Bank Launches New Voluntary Disclosure Program
On Aug. 1, 2006, the World Bank (“the Bank”) launched its new, proactive Voluntary Disclosure Program (“VDP”), a mechanism designed to address and reduce corruption. Through the VDP, the World Bank has enabled the private sector to self-police and avoid joining the more than 330 companies on the World Bank’s debarment “black list.”
United States
19 Dec 2006
Seventh Circuit Rules UAL’s ‘Lease’ is a Secured Loan
The U.S. Court of Appeals for the Seventh Circuit has ruled that a United Airlines airport facilities lease was not a true lease but in fact a secured loan. The holding in United Airlines, Inc. v. HSBC Bank USA, N.A., Nos. 04-4209, 04-4315 & 04-4321 (7th Cir., July 26, 2005) allows United to continue using the facilities while paying less than the agreed upon rental payments.
United States
6 Oct 2005
Sovereign Trade Finance Transactions: A Legal Perspective
In today’s low-yield climate, institutional investors, hedge funds and others are seeking to maximize yield. One investment product gaining in popularity is sovereign trade paper. This article will provide a short background into the nature of sovereign trade paper and address two of the main legal concerns of investors.
United States
28 Jan 2005
Amendments Improve Non-Prime Lending Law; New Jersey´s Predatory Lending Law Loses Some Bite
On July 6th, 2004, Governor McGreevey signed S-279, which, effective immediately, amends the New Jersey Homeownership Security Act of 2002 [the original law is referred to as the "Act" and the changes are referred to as the "Amendments"]. The Amendments contain much needed improvements to what had been perhaps the most restrictive so-called "predatory lending law" in the country.
United States
4 Aug 2004
Office of Inspector General Supplemental Compliance Program Guidance for Hospitals
On June 8, 2004, the Office of Inspector General ("OIG") of the Department of Health and Human Services ("HHS") published a draft Supplemental Compliance Program Guidance for Hospitals ("Supplemental Guidance").
United States
20 Jul 2004
Parity Act Preemption Upheld: New Jersey Supreme Court Reverses Appellate Division, Reinstates Trial Court Dismissal of Prepayment Fee Class Action
The New Jersey Supreme Court’s ruling reaffirms the federal preemption provided by the Parity Act and the 1996 OTS Parity Act Regulation, and should give the financial industry some degree of comfort that if they act consistently with the laws and regulations established by Congress and their expert federal regulators, they cannot be second-guessed in state court for that lawful behavior.
United States
2 Jul 2004
Disclosure of Privileged Communications and Work Product to Regulators
This article presents a brief analysis of the legal implications of revealing to federal bank regulators information internal to a Bank and otherwise protected by the attorney-client privilege (the "rivilege" or the work product doctrine.
United States
28 Jun 2004
Securing Your Security -A Lender’s Right to Litigation Proceeds
A 2003 case decided by the United States Circuit Court for the Ninth Circuit… should cause all lenders and their counsel to review and perhaps revise their standard forms of mortgages and deeds of trust to be sure all proceeds are properly assigned and payable to the lender.
United States
28 Jun 2004
The FACT Act’s Effect on Federal Preemption Under the Fair Credit Reporting Act
This article will briefly explore how courts have traditionally applied preemption under the FCRA to state law claims raised against furnishers of credit information, the new preemption provisions contained in the FACT Act, and how those new provisions are being implemented by the Federal Trade Commission and the Federal Reserve.
United States
25 Jun 2004
IRS Publishes Ancillary Joint Venture Revenue Ruling
Tax-exempt entities frequently enter into joint ventures ("JVs") with for-profit entities to further their exempt purposes or enhance their economic performance. Such ventures involve important issues regarding the entity’s ability to retain its tax-exempt status and to avoid being taxed on the income derived from the venture
United States
14 Jun 2004
SEC Adopts New Rules Requiring Public Companies To Report Additional Matters on Form 8-K Commencing August 23, 2004; Filing Deadline Accelerated to Four Business Days In Most Cases
The Securities and Exchange Commission recently adopted final rules expanding the number and type of events that must be reported by public companies on Form 8-K, and shortening the deadline for filing a Form 8-K for most items to four business days.
United States
2 Jun 2004
Interagency Statement on Sound Practices Concerning Complex Structured Finance Transactions
On May 14, 2004, five federal agencies requested public comment on a statement regarding risk management procedures to help financial institutions manage the full range of risks associated with complex structured finance transactions, including the risk that the transactions do not comply with applicable law .
United States
1 Jun 2004
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