Preparing for Litigation Arising from the Downfall of CMBS and ABS

Legal & Regulatory Compliance

The current economic downturn is likely to cause significant losses to Commercial Mortgage-Backed Securities (“CMBS”) and Auto-Backed Securities (“ABS”) and, in turn, to trigger litigation similar to the litigation the followed the 2008 Residential Mortgage-Backed Securities crisis. In particular, CMBS and ABS investors will likely sue CMBS and ABS loan aggregators (aka securitizers) for misrepresenting the quality of the securitized loans, and CMBS and ABS securitizers will then likely sue the originators of the loans in indemnity.

In this webinar, we will talk about the indemnity litigation that arose from the 2008 RMBS crisis, what similar CMBS/ABS litigation would most likely look like, and what lenders need to know if they are sued in indemnity actions. These actions will likely involve millions of dollars in exposure, and lenders need to be prepared.

Who Should Attend: In-House Counsel, Executives, and Commercial / Auto Loan Managers 

Learning Objectives

  • Learn about the indemnity actions against residential loan originators following the 2008 RMBS crisis.
  • Learn how similar litigation may arise in the context of CMBS and ABS as a result of the current economic downturn.
  • Learn how you can be prepared if your institution is sued in indemnity actions arising out of the sale of commercial or auto loans.

Speakers

Sharon R. Markowitz
Partner
Stinson

Sharon has the experience necessary to represent financial services clients in multi-million-dollar CMBS and ABS litigation arising out of the COVID-19 pandemic and the 2020 economic downturn. 

For more than six years, Sharon represented over a dozen residential mortgage loan originators in multi-million-dollar lawsuits brought by ResCap Liquidating Trust and Lehman Brothers, seeking indemnification in connection with settlements they made with RMBS Trustees and government-sponsored entities. Sharon was a leader in the joint defense groups and played a key role in all aspects of these cases, including expert strategy. Sharon capitalized on her quantitative-analysis skills to assess damages theories, utilize quantitative methods of proof, and evaluate the quantitative impact of various arguments.

Sharon spends a significant amount of her time counseling clients on the impact of the COVID-19 pandemic on their contractual rights and obligations – an issue that will likely be important in forthcoming CMBS and ABS litigation.

Webinar Fees

Pricing For Price Season Pass
Bank Member $195 $0
Bank Nonmember $395 $0
Affiliate Member $195 $0
Affiliate Nonmember $395 $0

Season Pass Members receive 4 individual logins to every webinar

Additional Info

Participants will earn 1.0 CPE credit

Field of Study: Specialized Knowledge

Prerequisites: None

Advanced Preparation: None

Program Level: Basic

Delivery Method: Group Internet Based

Refunds and Cancellations: Webinar registrations are non-refundable. If the registrant is unable to attend the designated time and date of the webinar, a playback link and any written materials will be provided within 2 business days following the conclusion of the webinar

Western Bankers Association is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:www.nasbaregistry.org.

Register

Click here to register online