A closer look at some of the subprime loans packaged into residential mortgage-backed securities reveals loans with poor credit scores, silent second mortgages and unverified income that were already delinquent before issuance and garnered triple-A ratings. Many involved mortgage fraud. But investors who are looking to litigation have little hope of recovering their losses — though secondary lenders are pushing losses back to the originator.
This story is no longer available.
However, a copy might still be available at www.thesunnews.com
