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Real Estate & Property Law

: The Home Equity Theft Reporter

Chicago FHLB Accuses Banks Of Unloading Crappy RMBS On Them; Lawsuit: We Unwittingly "Purchased Toxic Stew Of Doomed Mortgage Loans"

By r morris

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Bloomberg News reports:Federal Home Loan Bank of Chicago sued lenders including Bank of America Corp. claiming their failure to disclose relaxed subprime mortgage underwriting standards, led it to unknowingly buy risky mortgage-backed securities. The lawsuit was filed an Illinois state court in Chicago(1) by the congressionally chartered wholesale bank, which describes itself on its website as

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

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