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Real Estate & Property Law

: The Home Equity Theft Reporter

FHLB Of San Francisco Sues To Void $19.1B+ Purchase Of Crappy Mortgage-Backed Securities; Says Dealers BS'd About Quality Of Underlying Home Loans

By r morris

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The Federal Home Loan Bank of San Francisco announced:[T]he Federal Home Loan Bank of San Francisco(1) (Bank) filed complaints in the Superior Court of California, County of San Francisco, against nine securities dealers in relation to certain of the Bank?s investments in private-label residential mortgage-backed securities (PLRMBS). The Bank is seeking to rescind its purchases of 134 securities

Full post as published by The Home Equity Theft Reporter on March 19, 2010 (boomark / email).

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