TITLE

Lawsuit Highlights Guaranty Insurer Cultural Differences

AUTHOR(S)
Howard, Lisa S.
PUB. DATE
August 2002
SOURCE
National Underwriter / Property & Casualty Risk & Benefits Manag;8/26/2002, Vol. 106 Issue 34, p30
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
Reports on the legal dispute between Royal Indemnity Co. and MBIA Insurance Corp. highlighting a cultural clash between multiline and monoline insurance companies in the field of financial guaranty insurance in the U.S. as of August 26, 2002. Enforcement of insurance policies issued by Royal Indemnity for vocational loans originated by Student Finance Corp.; Allegations of misrepresentation of the performance and quality of loans.
ACCESSION #
7306317

 

Related Articles

  • MBIA Sued Over Restructuring.  // National Mortgage News;3/23/2009, Vol. 33 Issue 25, p15 

    The article reports that bond insurer MBIA Insurance Corp. faces a suit filed by various financial service companies in New York's Southern Federal District Court. Allegation states that the insurers decision to split its mortgage and other structured finance exposures from its public finance...

  • MBIA Files Motion Over Credit Suisse RMBS. Riggs, Taylor // Bond Buyer;5/9/2011, Vol. 376 Issue 33513, p5 

    The article reports on a motion filed by MBIA Insurance Corp. in the New York Supreme Court seeking documents from Credit Suisse Group AG about residential mortgage-backed securities it insured.

  • Judge Rules MBIA Couldn't Tell If GMAC Misrepresented MBS in Case. McGee, Patrick // National Mortgage News;1/10/2011, Vol. 35 Issue 15, p10 

    The article discusses a court case wherein the judges ruled that MBIA Insurance Corp. has no other way of discovering if GMAC Mortgage LLC had the intention to misrepresent the true nature of mortgage-backed securities that MBIA secured.

  • MBIA Files Suit Against Residential Funding Over Equity Loans in Five Deals. Herman, Jack // Bond Buyer;10/17/2008, Vol. 366 Issue 32984, p22 

    The article reports on the lawsuit filed by MBIA Insurance Corp. against Residential Funding Co. (RFC), over equity loans in five deals in the U.S. MBIA alleges that RFC induced it into backing five transactions by misrepresenting the quality of more than $3 billion of home equity loans included...

  • Wentwood Woodside I. L.P. v. GMAC Commercial Mortgage Corn. Chapman, J. Ross // Urban Lawyer;Fall2005, Vol. 37 Issue 4, p987 

    The article focuses on the court case Wentwood Woodside I, L.P. v. GMAC Commercial Mortgage Corp. An appeal to the U.S. Court of Appeals for the Fifth Circuit was brought by Wentwood Woodside (WWILP), a company owning rental property in Houston, Texas, against Royal Indemnity Co. (RIC) and GMAC...

  • Insurer waived fraud defense in credit risk policies: Court. McLeod, Douglas // Business Insurance;10/10/2005, Vol. 39 Issue 41, p4 

    This article reports on the Third U.S. Circuit Court of Appeals's decision in a case which raised the issue of whether Royal Indemnity Co. can raise fraud charges to avoid $380 million in potential losses under credit risk policies backing defaulted student loans produced by a bankrupt lender....

  • N.Y. Judge Rules MBIA Couldn't Tell If GMAC Misrepresented Securities. McGee, Patrick // Investment Management Weekly;12/17/2010, p5 

    The article reports that the New York Supreme Court ruled that MBIA Insurance Corp. did not have any way to know if GMAC Mortgage LLC intentionally misrepresented the true nature of mortgage-backed securities that MBIA insured. MBIA is asking for compensation for breaches of warranty and...

  • MBIA Sues Flagstar Over $165 Million in Mortgage Payouts. Browdie, Brian // American Banker;1/14/2013, Vol. 178 Issue 7, p16 

    The article presents information about Flagstar Bancorp with a focus on MBIA's lawsuit filed against Flagstar for allegedly misleading MBIA about the status of loans used to back $1.02 billion in securities that were insured by MBIA in 2006 and 2007. The article notes the court papers filed were...

  • Court Rules for GMAC Mortgage. McGee, Patrick // American Banker;12/21/2010, Vol. 175 Issue 195, p9 

    The article reports on a ruling by the New York Supreme Court that MBIA Insurance Corp. had no way to discover if GMAC Mortgage intentionally misrepresented the true nature of mortgage-backed securities that MBIA insured.

Share

Read the Article

Other Topics