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Morrison and Foerster LLP
Favorable Treatment of Mortgage Loans Under Dodd-Frank: A Comparison

In the wake of the financial crisis, mortgage-related reforms enacted as part of the Dodd-Frank Act or established under the Basel capital process have created four different classes of residential mortgage loans that are entitled to some kind of favorable...

Kevin M. LaCroix
FDIC: Failed Bank and Failed Bank Litigation Update

The pace of bank closures has slowed to a trickle. There have only been three bank failures so far in 2013 (including one this past Friday evening, involving the Covenant Bank of Chicago, Illinois ). But while bank failures have dwindled, the number...

Alexander Davie
SEC Enforcement Division’s Asset Management Unit’s Chief Anticipates Increase in Private Equity Enforcement

Bruce Karpati, the Chief of the SEC Enforcement Division's Asset Management Unit, held a Q&A session entitled " Private Equity Enforcement Concerns " at the Private Equity International Conference held in New York on January 23, 2013...

CFPB Implementation Strategy for New Mortgage Rules

by Michael B. Raines and Jeffrey E. Jamison Although the CFPB's new mortgage rules ("Mortgage Rules") are less than a month old and do not go into effective until January 10, 2014, the CFPB is not wasting any time putting the mortgage...

Yi Song
SEC Prosecution against A Chicago Convention Center EB-5 Project

Investor confidence in EB-5 should be bolstered with the breaking news released on February 8, 2013, that the Securities and Exchange Commission (SEC) has charged the EB-5 project A Chicago Convention Center (ACCC) and its principal Anshoo R. Sethi...

State Net
CA Out of Bond-Rating Basement

Standard & Poor's raised California's general obligation bond rating from A-minus to A this month. The upgrade comes just a week after S&P downgraded Illinois' rating to A-minus, meaning The Prairie State now has the lowest bond...