National Credit Union Administration Board v. RBS Securities, Inc. et al

Filing 440

ORDER regarding collection of files from Residential Capital Liquidating Trust. Signed by Magistrate Judge James P. O'Hara on 12/1/2014. (ah)

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
----------------------------------------X
NATIONAL CREDIT UNION ADMINISTRATION
:
:
BOARD, etc.,
Plaintiff,
:
:
-v:
:
MORGAN STANLEY & CO., et al.,
:
:
Defendants.
:
And other NCUA Actions.
:
----------------------------------------X
UNITED STATES DISTRICT COURT
DISTRICT OF KANSAS
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NATIONAL CREDIT UNION ADMINISTRATION
:
BOARD, etc.,
:
Plaintiff,
:
-v:
:
RBS SECURITIES, INC., f/k/a GREENWICH
:
CAPITAL MARKETS, INC., et al.,
:
:
Defendants.
:
:
And other NCUA Actions.
:
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13cv6705
13cv6719
13cv6721
13cv6726
13cv6727
13cv6731
13cv6736

(DLC)
(DLC)
(DLC)
(DLC)
(DLC)
(DLC)
(DLC)

USDC SDNY
DOCUMENT
ELECTRONICALLY FILED
DOC #: _________________
DATE FILED: ______________
12/1/14
/ /

11cv2340
11cv2649
12cv2591
12cv2648
13cv2418

(JWL)
(JWL)
(JWL)
(JWL)
(JWL)

UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA
WESTERN DIVISION
----------------------------------------X
NATIONAL CREDIT UNION ADMINISTRATION
:
BOARD, etc.,
:
Plaintiff,
:
-v:
:
RBS SECURITIES, INC., f/k/a GREENWICH
:
CAPITAL MARKETS, INC., et al.,
:
:
Defendants.
:
:
And other NCUA Actions.
:
----------------------------------------X

11cv5887 (GW)
11cv6521 (GW)
ORDER

HON. DENISE COTE, HON. JOHN W. LUNGSTRUM, and HON. GEORGE H. WU,
District Judges; and HON. JAMES P. O’HARA, Magistrate Judge:
Pursuant to the Loan File Reunderwriting Protocol of April
9, 2014 in these coordinated actions, the parties are required
to provide status reports every four weeks on the
“identification and production” of Loan Files and guidelines for
NCUA’s Sample Loans.

The November 26, 2014 status report

reflects that difficulties exist in the collection of loan files
from Residential Capital Liquidating Trust (“ResCap”).
According to the most recent status report, in February
2014, NCUA issued subpoenas to ResCap for loan files.

Due to

its bankruptcy, ResCap requested that NCUA first attempt to
obtain the files from others.

Having exhausted these efforts,

on September 9, NCUA requested 1,297 loan files from ResCap, and
on November 4, requested another 203 files.

ResCap represented

that it expected to produce 164 files by November 26, 2014, but
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has not provided an estimated date for the production of the
remaining files.

Accordingly, it is hereby

ORDERED that NCUA shall advise our Courts by December 10,
2014, whether ResCap has made a commitment to NCUA to produce
all of the requested loan files on a rolling basis, with the
final production occurring no later than January 30, 2015.

Dated: December 1, 2014

__/s/ Denise Cote _______________
United States District Judge

Dated: December 1, 2014

__/s/ George H. Wu________________
United States District Judge

Dated: December 1, 2014

___/s/ John W. Lungstrum__________
United States District Judge

Dated: December 1, 2014

___/s/ James P. O’Hara____________
United States Magistrate Judge

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