Fannie Mae

1. Former Top AIG Corporate Counsel Joins DLA Piper

Wednesday, Mar 03, 2010

A veteran counsel to businesses in crisis, Anastasia "Stasia" Kelly has left a top legal job at American International Group Inc. and joined DLA Piper, hoping to use her experience to help guide companies through thorny corporate governance and other compliance issues.

2. Say-On-Pay Bill Unveiled In Senate

Monday, Mar 01, 2010

Sen. Robert Menendez, D-N.J., has introduced legislation that would give shareholders at public companies advisory say on executives' pay packages and create new rules to punish executives whose risk-taking leads to failure or fraud.

3. Fannie, Freddie Chief Cautions Reps Against Pay Cuts

Thursday, Feb 25, 2010

An overseer of Fannie Mae and Freddie Mac warned congressmen Thursday against cutting compensation at the mortgage giants, saying a loss of talent at the two entities could jeopardize nascent recovery in the housing market.

4. Baker Hostetler Snags Arent Fox Bankruptcy Partner

Monday, Feb 22, 2010

Veteran bankruptcy attorney Christopher Giaimo has left Arent Fox LLP to join Baker & Hostetler LLP.

5. Patton Boggs Top Lobbying Earner Of The Year: Report

Friday, Feb 12, 2010

In a year that saw companies pour a record-breaking $3.47 billion into lobbying federal lawmakers, Patton Boggs LLP topped the list for lobbying income, raking in nearly $40 million overall in 2009, according to analysis released Friday by the Center for Responsive Politics.

6. Tackling 'Too Big To Fail'

Friday, Feb 12, 2010

As passed, H.R. 4173 would make fundamental changes in the scope and nature of the financial regulatory system in the United States. Among the most important provisions in this wide-ranging bill are those that would create a new legal regime for “resolving” systemically significant financial companies, says Paul L. Lee of Debevoise & Plimpton LLP.

7. Bill Takes Aim At Big Bonuses From TARP Firms

Monday, Feb 08, 2010

The latest round of outrage over record bonus pools at some top firms has sparked new legislation from Sens. Barbara Boxer, D-Calif., and Jim Webb, D-Va., that would slap a 50 percent tax on “excessive” 2009 bonuses paid by banks that took taxpayer bailouts during the financial crisis.

8. Fannie Mae Plaintiffs Want KPMG Wells Notice Info

Wednesday, Feb 03, 2010

The plaintiffs in the sprawling Fannie Mae securities litigation have asked a federal judge to force KPMG LLP to produce details on Wells notices issued against its employees and any replies from the accounting firm.

9. House GOP Attacks Fannie, Freddie Exec Pay

Friday, Jan 22, 2010

Republican leaders on the U.S. House of Representatives' Financial Services Committee are attempting to roll back millions of dollars in compensation granted to executives at government-sponsored entities Fannie Mae and Freddie Mac, calling them an egregious example of misaligned performance and pay.

10. House Panel Weighs Broader Curbs On Exec Pay

Friday, Jan 22, 2010

The U.S. House of Representatives' Financial Services Committee took a closer look Friday at ways to rein in executive compensation at financial institutions, addressing critics' concerns that recent legislative proposals won't do enough to discourage massive bonuses and risk-taking on Wall Street.

11. Q&A With EpsteinBeckerGreen's Herve Gouraige

Tuesday, Dec 15, 2009

While the appellate process is on the whole very good, one increasingly important issue is that the huge workload of the courts of appeals result in many summary dispositions and unpublished opinions, says Herve Gouraige, co-group leader of the national litigation practice at Epstein Becker & Green PC.

12. Insurer Securities Suit Against Fannie Mae Revived

Wednesday, Nov 25, 2009

A federal judge has said he will reconsider an American National Insurance Co. subsidiary's securities fraud claims against ex-Fannie Mae officers that had been dismissed after being consolidated with a similar class action.

13. Securities Act Claims Tossed In Fannie Mae Suit

Wednesday, Nov 25, 2009

A federal judge has ruled that Fannie Mae is exempt from liability under the Securities Act of 1933, dismissing claims under that law in a proposed class action accusing the mortgage giant of misleading investors about its soundness when it made $14 billion in securities offerings in 2007 and 2008.

14. Capmark Mortgage Business Sale For $515M Approved

Wednesday, Nov 25, 2009

Capmark Financial Group Inc. has won a bankruptcy court's approval to complete the sale of its North American servicing and mortgage banking businesses to a joint entity of Warren Buffett's Berkshire Hathaway Inc. and Leucadia National Corp. for $515 million.

15. Ohio AG Goes After S&P, Moody’s, Fitch On ABS Ratings

Friday, Nov 20, 2009

The Ohio attorney general has targeted the three leading ratings agencies with allegations of wreaking havoc on the U.S. financial markets by providing unjustified and inflated ratings of asset-backed securities in exchange for lucrative fees from securities issuers.

16. 2008 Asset Holding Gets Judge's OK To Liquidate

Monday, Nov 16, 2009

A bankruptcy judge has signed off on a Chapter 11 liquidation plan for real estate-related securities investment firm 2008 Asset Holding Corp. that allows the company to pay back only 1 percent to 2 percent of its $112 million in debt.

17. Lehman Wants Firm Kicked Off Loan Repurchase Case

Friday, Nov 13, 2009

Lehman Brothers Holdings Inc. has asked a district court in Maryland to disqualify a law firm from representing defendant Mortgage and Equity Funding Corp. in a breach of contract lawsuit in which MEFC is accused of shirking its obligation to buy back mortgage loans Lehman found problematic.

18. NY Homeowners Say They Were Wrongly Denied Aid

Tuesday, Nov 10, 2009

Four New York homeowners have filed a purported class action alleging that Aurora Loan Services LLC improperly denied their applications for modifications of their mortgages under the federal Home Affordable Modification Program.

19. Ex-Judge Named Special Master In Fannie Mae Suit

Monday, Nov 09, 2009

A former federal judge has been appointed special master to oversee discovery disputes between Fannie Mae and its former auditor KPMG LLP in multidistrict litigation stemming from the mortgage giant's 2004 accounting scandal.

20. ESOP Required Investment In Fannie Mae: Plan Leaders

Tuesday, Nov 03, 2009

Fannie Mae benefit plan committee members have asked a federal judge to dismiss a consolidated proposed class action alleging they violated the Employee Retirement Income Security Act by investing in Fannie Mae stock, saying the plan did not give them discretion to alter investments.