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SEC Probes Rental Home Values Backing Private-Equity Bond Deal

Livinglies's Weblog

May 8, 2017, 6:08 PM EDT
  • Radian’s Green River says U.S. queries broker price opinions
  • Probe said to question if firms’ assessments overstated values

U.S. securities regulators are investigating whether bonds backed by single-family rental homes and sold by Wall Street’s biggest residential landlords used overvalued property assessments.

Radian Group Inc.’s Green River Capital unit is one of the market participants that received a request for information from the Securities and Exchange Commission in March about broker price opinions, or BPOs, the company said in a regulatory filing late Friday. Green River provides BPOs that are used to value real estate in securitizations.

The agency has been looking at whether BPOs were wrongly inflated, and similar letters were sent to other companies, potentially serving as a starting point for an industrywide probe, according to a person with knowledge of the matter. The person asked not to…

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Counsel’s Authority to Represent

I know from my own personal experience that this is an important issue as I have also encountered the issue of whether a particular attorney or law firm has the authority to represent the opposing party in everyday civil litigation cases that I have worked on as well as foreclosure defense cases.

Livinglies's Weblog

The stakes couldn’t be higher. If counsel has been directed by a third party to use the name of a specific entity, acting as Trustee for an alleged trust, and has no  contact or information from the Trust or the Trustee, then on what authority does counsel represent the Trust? Remember there must be some document FROM THE TRUST through the only party with the right to administer the Trust (i.e., the supposed Trustee).
Get a consult! 202-838-6345
https://www.vcita.com/v/lendinglies to schedule CONSULT, leave message or make payments.
THIS ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER.
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In the absence of any real authority to represent a Trust and in the absence of the “Trust” paying for the representation then the ultimate question, described on the pages of my blog for 10 years is whether the Trust exists in the…

View original post 743 more words

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