Delaware AG’s MERS suit should strike fear in MBS industry

4 Nov

From: Jake Naumer

Lawyers for MBS investors and bond insurers have already poured untold hours into scrutinizing mortgage loan file documents for breach of contract cases against issuers. They’ve generally focused on whether the underlying mortgage pools live up to the representations and warranties MBS issuers made about things such as owner income and loan-to-value ratios. But imagine if they can argue, as the Delaware AG does in Thursday’s MERS suit, that trusts never owned the loans in MBS pools at all. We’re looking at a whole new world of put-back liability.

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http://newsandinsight.thomsonreuters.com/Legal/News/ViewNews.aspx?id=31220&terms=%40ReutersTopicCodes+CONTAINS+%27ANV%27

http://newsandinsight.thomsonreuters.com/Legal/News/ViewNews.aspx?id=31220&terms=%40ReutersTopicCodes+CONTAINS+%27ANV%27

http://newsandinsight.thomsonreuters.com/Legal/News/2011/10_-_October/Pauley_s_BofA_MBS_ruling_is_boon_to_New_York,_Delaware_AGs/


Jake Naumer
Resolution Advisors
3187 Morgan Ford
St Louis Missouri 63116
314 961 7600
Fax Voice Mail 314 754 9086

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One Response to “Delaware AG’s MERS suit should strike fear in MBS industry”

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  1. BLMP » Blog Archive » Delaware AG’s MERS suit should strike fear in MBS industry - November 4, 2011

    […] Delaware AG’s MERS suit should strike fear in MBS industry […]

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