In what may be the first of many claims from investors in private-mortgage bonds, Wells Fargo...


In what may be the first of many claims from investors in private-mortgage bonds, Wells Fargo (WFC) and Morgan Stanley (MS) stand accused by law firm Gibbs & Bruns of failing to properly service $73B in RMBS. Based on what Gibbs & Bruns extracted from BofA in a similar case, it's estimated the banks could be on the hook for $2B.

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Comments (2)
  • The Autonomous Guy #23
    , contributor
    Comments (205) | Send Message
     
    ????
    19 Sep 2012, 01:13 PM Reply Like
  • TwistTie
    , contributor
    Comments (2429) | Send Message
     
    Is this one of the reasons that the banks are getting out of the servicing business?

     

    I don't know.
    19 Sep 2012, 01:40 PM Reply Like
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