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The seven Federal Home Loan Banks that have sued over mortgage-backed securities have been adept at keeping their barrage suits against big banks where they want them: in the hands of state court judges. But the Federal Home Loan Bank of Boston and its lawyers at Keller Rohrback are going to have to try their luck in federal court, thanks to a ruling on Friday.
Few took notice last year when Gibbs & Bruns began laying the groundwork for what eventually became an $8.5 billion settlement with Bank of America over hundreds of billions of dollars in mortgage-backed securities. Now the firm has picked JPMorgan as its second target, and this time it has everybody's attention.
Equity One agrees to $72 million deal
North Miami Beach-based Equity One is under contract for the Circle Centers, a 273,000-square-foot shopping center in Long Beach, California.BofA Responds to A.G.'s Threat of Lawsuit
A threat by Attorney General Eric Schneiderman to sue Bank of America for alleged violations of the National Mortgage Settlement has brought a sharp retort from the bank's attorneys at Wachtell, Lipton, Rosen & Katz, who say they knew of no potential problems until Schneiderman fired off a letter to the monitoring panel and issued a statement to the pressGetting the Delaware Chancery Court to permanently block a deal is no easy feat, but Pickhardt pulled it off on Monday for BankAtlantic investors hoping to scuttle the bank's sale of $2.1 billion in loans and $3.3 billion in deposits to BB&T.
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