Wednesday , 13 January 2021

Morgan Stanley Makes Bid to Have Two FHFA Suits Over RMBS Dismissed

By Brian Honea

Attorneys for investment firm Morgan Stanley made a motion in the New York Supreme Court Tuesday to have two lawsuits filed by the Federal Housing Finance Agency (FHFA) accusing the firm of failing to buy back $2.5 billion worth of faulty residential mortgage-backed securities, according to media reports. FHFA, which is suing on behalf of the RMBS pools’ trustees, claims that Morgan Stanley committed a breach of contract by failing to buy back the poor performing loans, which were pooled into securities and sold to Freddie Mac in 2007.

The post Morgan Stanley Makes Bid to Have Two FHFA Suits Over RMBS Dismissed appeared first on DSNews.

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