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Mortgage Lawsuits News | Mortgage Litigation Index
Mortgage industry lawsuit news and mortgage litigation coverage. Stories about legal settlements, judgments and mortgage class actions.

MBS Lawsuits
Fourth Quarter 2008 Mortgage Litigation Report

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Lawsuits related to mortgage-backed securities.

Case Title
Case Number
Date Filed Link to Story
Steven Gordon United States U.S. District Court for the Southern District of Florida $66,000,000 A former executive of Bayview Financial LP has been accused by federal prosecutors of defrauding secondary investors and earning nearly $3 million in the process; Steven Gordon allegedly modified data on mortgage loan securitizations to inflate his incentive pay. United States of America vs. Steven Gordon Case No. 08-21103-CR-Jordan/McAliley Dec. 11, 2008
Goldman Sachs & Co., Goldman Sachs Mortgage Company, GS Mortgage Securities Corp., GSAA Home Equity Trust NECA-IBEW HEALTH & WELFARE FUND U.S. District Court for the Southern District of New York na Class action filed on behalf of investors in some GS Mortgage Securities Corp. securitizations issued last year; defendants allegedly filed a fraudulent registration statement with the SEC on Jan. 31, 2007. NECA-IBEW HEALTH & WELFARE FUND, Individually and On Behalf of All Others Similarly Situated vs. GOLDMAN, SACHS & CO., et al. na Dec. 11, 2008
Credit-Based Asset Servicing and Securitization LLC, Merrill Lynch Mortgage Investors Inc. and some officers and directors, as well as the issuers and underwriters of the certificates. IRON WORKERS LOCAL NO. 25 PENSION FUND U.S. District Court for the Southern District of New York na The defendants allegedly filed an SEC registration that misled investors about underwriting standards, LTVs, DTI ratios and appraisals on the underlying loans. IRON WORKERS LOCAL NO. 25 PENSION FUND, Individually and On Behalf of All Others Similarly Situated vs. CREDIT-BASED ASSET SERVICING AND SECURITIZATION LLC, et al. na na
Countrywide Financial Corp., Countrywide Home Loans, Inc. and Countrywide Home Loans Servicing LP Greenwich Financial Services Distressed Mortgage Fund 3, LLC and QED LLC Supreme Court of the State of New York, County of New York $80,000,000,000 A class action seeks to force Countrywide Financial Corp. to repurchase as much as $80 billion in securitized mortgages that it plans to modify. The case revolves around the $8.4 billion predatory lending settlement with several states announced in October by BoA. That agreement called for the company to systematically modify loans for nearly 400,000 troubled borrowers. Greenwich Financial Services Distressed Mortgage Fund 3, LLC, and QED LLC, on behalf of themselves and all other persons similarly situated v. Countrywide Financial Corporation, et al. na Dec. 1, 2008
Mortgage Backed Securities | MBS News | MBS Statistics
News about commercial and residential mortgage-backed securities. Stories about ratings actions and changes to servicer ratings. Studies and reports about the performance of securitizations and problem vintages and classes. Subprime, Alt-A, home equity and j u m b o analysis.

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