CMBS Litigation – Too Early To Tell?
A Charles Cowan, Ph.D. interview with Commercial Mortgage Alert
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Stronger underwriting and other investor protections built into deal documents in the aftermath of the previous crisis will make such lawsuits easier to defend and may prevent them from being filed at all. “Courts may be more sympathetic to the argument that no one could have anticipated some of the weird things that happened during the pandemic,” said Chuck Cowan, whose Analytic Focus research firm worked with numerous RMBS investors and bond insurers on put-back lawsuits after the last crisis.
Nonetheless, “bad underwriting is bad underwriting when you can’t rely on it even in normal times,” he added. Cowan said he knows of two major law firms that have assembled in-house teams trawling for potential CMBS lawsuits. It’s too early to tell if those efforts will bear fruit, he said.
Read more about the topic in The Commercial Mortgage Alert here:
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Charles Cowan, Ph.D.
Charles D. Cowan, Ph.D. is a Co-Founder and Chief Executive Officer of Analytic Focus, LLC. Dr. Cowan, a nationally recognized expert in statistical applications and economic investigations, has over 40 years of experience in research and design applied to issues in finance and economics. Learn more here.
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Ira Holt, Jr., M.P.P.M.
Ira H. Holt, Jr. is the Director of Financial Services Consulting for Analytic Focus, LLC. Mr. Holt serves as a recognized testifying expert within mortgage operations, loan origination, mortgage quality, and related cases. Learn more here.
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Mauricio Vidaurre, M.S.F.
Mauricio Vidaurre, M.S.F. is the Vice President of Analytics for Analytic Focus, LLC. Mr. Vidaurre provides detailed research support for mortgage backed securitization litigation including cash flow reconstruction to calculate insurance and trustee losses; the feasibility of utilizing statistical methodologies in the same approaches and related analysis. Learn more here.