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Mortgage Bond Insurer's Suit Suggests Bank Secretly Pocketed Payments On Sour Loans Prior To Default

By r morris

The New York Times reports:Banks have been fighting with disgruntled bond investors and insurers for months, arguing that they do not need to buy back soured mortgages they placed inside securities before the financial crisis. Now, it turns out, some of those banks may have secretly collected partial payments on those same mortgages several years ago and pocketed that money.At least that is a

Full post as published by The Home Equity Theft Reporter on February 11, 2011 (boomark / email).