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

  1. October 17, 2012

    Alleged Loan Fallacies Reviewed In Flagstar $1B MBS Suit

    A counsel for insurance firm Assured Guaranty Municipal Corp. examined several apparent egregious misrepresentations in home equity loans approved by Flagstar Bank FSB in Assured's contract suit against the bank over nearly $1 billion in mortgage-backed securities in New York federal court Wednesday.

  2. October 16, 2012

    Rakoff Grills Expert Witness In $1B MBS Flagstar Trial

    New York District Judge Jed S. Rakoff grilled a plaintiff's expert witness Tuesday about the specifics of several home loan applications approved by Flagstar Bank FSB in a federal contract case by an insurer over two pools of mortgaged-backed securities issued by Flagstar totaling nearly $1 billion 

  3. October 15, 2012

    Flagstar Atty Grills Witness On Loan Review In $1B MBS Trial

    A mortgage risk consultant who testified that Flagstar Bank FSB's loan underwriting practices were widely flawed was grilled about her methodology in New York federal court Monday in an insurer's contract suit over nearly $1 billion in mortgage-backed securities issued by Flagstar.

  4. October 12, 2012

    Witness In $1B MBS Trial Calls Flagstar Underwriting Spotty

    The head of a mortgage risk consulting firm testified Friday in an insurer's contract case against Flagstar Bank FSB that the underwriting process for the loans behind roughly $1 billion in mortgage-backed securities issued by Flagstar was replete with deficiencies.

  5. October 11, 2012

    Flagstar Atty's Questions Clipped From $1B MBS Trial

    The New York federal judge overseeing Assured Guaranty Municipal Corp.'s $1 billion suit over mortgage-backed securities issued by Flagstar Bank FSB ruled Thursday that a line of questioning by defense counsel on AGM's loan modeling practices would be admitted into the suit only for background purposes.

  6. September 26, 2012

    AGM, Flagstar $1B Coverage Fight Still Heading To Trial

    A New York federal judge on Tuesday reaffirmed an order sending to trial Assured Guaranty Municipal Corp.'s contract dispute with Flagstar Bank FSB over insurance coverage for nearly $1 billion of the bank's mortgage-backed securities, rejecting Flagstar's renewed efforts to get the suit tossed.

  7. March 01, 2012

    Flagstar, AGM Headed To Trial In MBS Coverage Fight

    Assured Guaranty Municipal Corp.'s contract fight with Flagstar Bank FSB over insurance coverage for $900 million of the bank's mortgage-backed securities is headed to trial after a New York federal judge nixed Flagstar's bid for summary judgment Wednesday.

  8. July 11, 2011

    AGM Claims Cut In $82M Flagstar MBS Coverage Fight

    A New York federal judge on Thursday slashed reimbursement and indemnification claims from Assured Guaranty Municipal Corp.'s suit alleging Flagstar Bank FSB misrepresented the quality of some $900 million in mortgage-backed securities insured by AGM.