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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 2010 Mortgage Litigation Index

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Lawsuits related to mortgage-backed securities.

Defendant
Plaintiff
Court
Amount
Overview
Case Title
Case Number
Date Filed Link to Story
Ally Financial, Banc of America Mortgage Securities, Inc., Banc of America Securities, LLC, Bank of America Corp., Bear Stearns & Co., Inc., Chase Mortgage Finance Corp., Citigroup Global Markets, Inc., Countrywide Financial Corp., Credit Suisse (USA), Inc., Credit Suisse First Boston Mortgage Securities Corp., Credit Suisse Holdings (USA), Inc., Credit Suisse Securities (USA) LLC, CWMBS, Inc., First Horizon Asset Securities, Inc., First Savings Mortgage Corp., First Tennessee Bank Nat'l Assoc., GMAC Mortgage Group LLC, Goldman Sachs Mortgage Co., Goldman Sachs & Co., GS Mortgage Securities Corp., Indymac MBS, Inc., J.P. Morgan Acceptance Corp. I, J.P. Morgan Securities Inc., John Doe Defendants 1-50, JP Morgan Chase & Co., JP Morgan Securities Holdings LLC, RBS Securities, Inc. Residential Funding Mortgage Securities I, Inc. Federal Home Loan Bank Loan of Indianapolis U.S. District Court for the Southern District of Indiana $3,000,000,000 Suit alleging negligent misrepresentation of MBS performance. Fed'l Home Bank Loan of Indianapolis v. Ally Fin. Inc. 1:2010cv01463 11/15/2010 www.mortgagedaily.com/LitigationMbs113010.asp
www.mortgagedaily.com/MctLawsuitFhlb111910.asp
Ameriquest Mortgage Securities, Inc., Bear Stearns & Co., Citigroup Global Markets, Inc, Countrywide Securities Corp., Credit Suisse First Boston LLC, Credit Suisse (USA) LLC, Goldman Sachs & Co., Deutsche Bank Securities Inc., Greenwich Capital Markets, Inc., GMAC-RFC, HSBC Securities (USA), Inc., JP Morgan Acquisition Corp., Merrill Lynch, Morgan Stanley & Co., Novastar Mortgage, Option One Mortgage Corp., Washington Mutual Bank, Wells Fargo Bank, Wells Fargo Asset Securities Corp., Citibank, N.A., Chase Bank USA, N.A., Bank of America, N.A. City of Cleveland U.S. Court of Appeals for the Sixth Circuit n/a City of Cleveland employees seek to recover from defendants for MBS performance. City of Cleveland v. Ameriquest Mortgage Securities, Inc. n/a 9/1/3608 www.mortgagedaily.com/LitigationMbs113010.asp
Bank of America Funding Corporation, Bank of America Securities LLC , Bank of America Corporation , Barclays Capital Inc., Securitized Asset Backed Receivables LLC, Citigroup Mortgage Loan Trust Inc., Citigroup Global Markets Inc., Citigroup Financial Products Inc, Citigroup Inc., Countrywide Securities Corporation, Credit Suisse Securities (USA) LLC f/k/a Credit Suisse First Boston LLC, First Horizon Asset Securities Inc., First Tennessee Bank National Association , Residential Asset Mortgage Products Inc. , Residential Asset Securities Corporation , Residential Funding Mortgage Securities I, Inc., GMAC Mortgage Group LLC f/k/a GMAC Mortgage Group Inc., Residential Funding Securities LLC f/k/a Residential Funding Securities Corporation, Ally Financial Inc. f/k/a GMAC Inc., The Goldman Sachs Group Inc., Goldman, Sachs & Co., Goldman Sachs Mortgage Company , GS Mortgage Securities Corp. , Financial Asset Securities Corp. , RBS Acceptance Inc. f/k/a Greenwich Capital Acceptance, Inc., RBS Securities Inc., f/k/a Greenwich Capital Markets, Inc., RBS Holdings USA Inc. f/k/a Greenwich Capital Holdings, Inc., H&R Block, Inc., Sand Canyon Acceptance Corporation f/k/a Option One Mortgage Acceptance Corp., Sand Canyon Corporation f/k/a Option One Mortgage Corporation, American Enterprise Investment Services, Inc., Ameriprise Financial Services, Inc., Ameriprise Advisor Services, Inc. f/k/a H&R Block Financial Advisors, Inc., HSBC Securities (USA) Inc., IndyMac MBS, Inc., J.P. Morgan Acceptance Corporation I, J.P. Morgan Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley, Morgan Stanley & Co. Incorporated, Morgan Stanley ABS Capital I Inc., Stanley, Morgan Stanley & Co. Incorporated, and Morgan Stanley ABS Capital I Inc., PNC Investments LLC, The PNC Financial Services Group, Inc., Nomura Home Equity Loan, Inc., Nomura Securities International, Inc , Nomura Holding America Inc., Sequoia Residential Funding, Inc., Mortgage Asset Securitization Transactions, Inc., UBS Americas Inc., UBS Securities LLC , Wells Fargo Asset Securities Corporation, Wells Fargo Bank, National Association, Wells Fargo & Company, Morgan Stanley and Morgan Stanley & Co. Incorporated Federal Home Loan Bank Home of Chicago U.S. District Court for the Northern District of Illinois n/a FHLB of Chicago sued Banc of America and its affiliates over MBS performance. FHLB claims nearly 97 percent of the mortgages it reviewed did not meet the stated underwriting guidelines. Fed'l Home Bank Loan of Chicago v. Banc of America Funding Corp. No. 1:2010cv07560 11/23/2010 www.mortgagedaily.com/LitigationMbs113010.asp
Barclays Bank PLC Lone Star Fund V n/a n/a Case dismissal was affirmed because the investors failed to allege a misrepresentation in light of the "repurchase or substitute" clauses in the securities contracts. Lone Star Fund V (US), LP v. Barclays Bank PLC 594 F.3d 383 1/11/2010 www.mortgagedaily.com/LitigatonRepurchase122710.asp
BNP Paribas Securities Corp., CWMBS, Inc., Banc of America Securities LLC, Bank of America Mortgage Securities, Inc., Banc of America Funding Corporation, Cwalt, Inc., Countrywide Financial Corporation, Citigroup Global Markets Inc., Citigroup Mortgage Loan Trust, Inc., Residential Accredit Loans, Inc., First Horizon Asset Securities Inc., Credit Suisse Securities (USA) LLC, Credit Suisse First Boston Mortgage Securities Corp., Residential Asset Mortgage Products, Inc., Deutsche Bank Securities, Inc., First Tennessee Bank National Association, Goldman Sachs & Co., GS Mortgage Securities Corp., RBS Securities, Inc., HSBC Securities (USA), Inc., Wells Fargo Asset Securities Corporation, Morgan Stanley & Co. Inc., Sequoia Residential Funding, Inc., UBS Securities, LLC and Mortgage Asset Securitization Transactions, Inc The Charles Schwab Corporation U.S. District Court for the Northern District of California n/a The Charles Schwab Corp. sued the defendants over buy-back clauses related to MBS. The Charles Schwab Corp. v. BNP Paribas Securities Corp. No. 3:2010cv04030 9/8/2010 www.mortgagedaily.com/LitigationMbs113010.asp
Countrywide Financial Corp. MBS investors U.S. District Court for the Central District of California $352,000,000,000 Court reduced Bank of America's exposure to $31 billion in MBS offerings from $352 billion in putative class action. Second complaint filed on Dec. 6. Maine State Ret. Sys. v. Countrywide Fin. Corp. Case No. 2:10-cv-00302-MRP-MANx 1/14/2010 www.mortgagedaily.com/LitigatonRepurchase122710.asp
Countrywide Financial Corporation, Countrywide Home Loans, Inc., and Countrywide Home Loans Servicing LP Class action Supreme Court of New York, County of New York $80,000,000,000 Suit regarding loss mitigation in connection with home mortgages. Greenwich Fin. Servs. Distressed Mortgage Fund 3, LLC v. Countrywide Fin. Corp. No.1:2008cv11343 12/30/2008 www.mortgagedaily.com/LawsuitBoaAz121710.asp
Countrywide Home Loans Ambac Assurance Corporation New York Supreme Court, Manhattan Division $16,700,000 Countrywide was sued over its MBS offerings. Ambac Assurance Corp. v. Countrywide Home Loans No. 651612/2010 n/a www.mortgagedaily.com/LitigationMbs113010.asp
EMC Mortgage Corporation Ambac Assurance Corporation U.S. District Court for the Southern District of New York n/a Bond insurance on nearly $3.6 billon of EMC MBS file four lawsuits. Ambac Assurance Corp. v. EMC Mortgage Corp. No. 1:2008cv09464 11/5/2008 www.mortgagedaily.com/LitigationMbs113010.asp
EMC Mortgage Corporation Assured Guaranty Corporation U.S. District Court for the Southern District of New York n/a Bond insurance on nearly $3.6 billon of EMC MBS file four lawsuits. Assured Guaranty Corp. v. EMC Mortgage Corp. No. 1:2010cv05367 7/14/2010 www.mortgagedaily.com/LitigationMbs113010.asp
EMC Mortgage Corporation CIFG Assurance North America Inc. Texas state court n/a Bond insurance on nearly $3.6 billon of EMC MBS file four lawsuits. n/a n/a n/a www.mortgagedaily.com/LitigationMbs113010.asp
EMC Mortgage Corporation Syncora Guarantee Corporation U.S. District Court for the Southern District of New York n/a Bond insurance on nearly $3.6 billon of EMC MBS file four lawsuits. Syncora Guarantee Corp. v. EMC Mortgage Corp. No. 1:2010cv00749 2/1/2010 www.mortgagedaily.com/LitigationMbs113010.asp
Federal Deposit Insurance Corporation (as receiver of Washington Mutual Bank); JPMorgan Chase Bank; Washington Mutual Mortgage Securities Corporation Deutscshe Bank National Trust Company U.S. District Court for the District of Columbia n/a Suit by Deutsche Bank as trustee for pension funds, municipalities, and other investors who incurred huge losses on defective Bank of America bonds. Deutsche Bank National Trust Company v. FDIC No. 09-CV-1656-RMC n/a www.mortgagedaily.com/MctHudForeclosures102110.asp
GMAC Mortgage, Residential Capital LLC, Residential Funding Securities LLC, Residential Asset Mortgage Products Inc., Residential Funding Company LLC, Residential Funding Mortgage Securities I Inc., Residential Accredit Loans Inc. and Homecomings Financial LLC Fannie Mae n/a $462,000,000 Settlement resolves subpoena and $84 billion in repurchase liabilities. n/a n/a n/a www.mortgagedaily.com/AllyFannieSettlement122810.asp
JPMorgan entities, several Bear entities and some WaMu affiliates Cambridge Place Investment Management Inc. Massachusetts state court n/a Action commenced. n/a n/a n/a www.mortgagedaily.com/LitigationMbs113010.asp
JPMorgan entities, several Bear entities and some WaMu affiliates Federal Home Loan Banks various state courts n/a 9 individual actions filed by multiple FHLBs. n/a n/a n/a www.mortgagedaily.com/LitigationMbs113010.asp
JP Morgan Securities, Inc., Bear Sterns Asset Backed Securities I LLC The Charles Schwab Corporation U.S. District Court for the Central District of California n/a JP Morgan Chase and its affiliates, along with Washington Mutual and its affiliates, were sued in their various roles as issuers, sponsors, or underwriters in MBS offerings. The Charles Schwab Corp. v. JP Morgan Securities, Inc. No. 3:2010-cv-04522 10/6/2010 www.mortgagedaily.com/LitigationMbs113010.asp
Mario S. Levis aka Sammy Levis United States of America U.S. District Court fo the Southern District of New York $4,000,000,000 60-month sentence for former Doral Financial Corp. Treasurer. n/a n/a n/a www.mortgagedaily.com/LitigationCriminal120710.asp
Morgan Stanley MBIA Insurance Co. Supreme Court of the State of New York, Westchester County $223,000,000 Plaintiff claims in complaint filing that it was fraudulently induced to insure MBS. MBIA Ins. Co. v. Morgan Stanley n/a Dec. 2010 www.mortgagedaily.com/LitigatonRepurchase122710.asp
Nationsfirst Lending Inc. Lehman Brothers Holding Inc. U.S. District Court, Central District of California n/a Complaint filed and alleges various contracts requiring the repurchase of faulty mortgage loans were not honored. Lehman Brothers Holding, Inc. v. Nationsfirst Lending Inc. Case No. 10CV1753 11/15/2010 www.mortgagedaily.com/LitigatonRepurchase122710.asp
Wells Fargo Class action U.S. District Court for the Northern District of California $7,200,000 MBS investors seek recovery on their mortgage-backed certificates. In re Wells Fargo Mortgage-Backed Certificates 09-CV-01376-LHK 4/22/2010 www.mortgagedaily.com/LitigationMbs113010.asp
Wurttembergische Versigh Universal Mortgage Corp. n/a n/a Complaint filed alleging defendant reneged on a mortgage bankers blanket bond. Universal Mortg. Corp. v. Wurttembergische Versigh LEXIS 77975 7/30/2010 www.mortgagedaily.com/LitigatonRepurchase122710.asp
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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