Mortgage Graveyard Litigation

Author:  //  Category: Mortgage

Deutsche Bank AG filed a lawsuit against Bank of America, N.A., according to a copy of the complaint. BoA allegedly failed to secure and safeguard more than $1 billion in cash and mortgages originated by failed Taylor, Bean & Whitaker Mortgage Corp. Morgan Stanley was sued over allegations it promoted a collateralized-debt obligation while betting against the underlying loans that were originated by failed New Century Financial Corp. and Option One Mortgage Mortgage Corp. A former IndyMac Bancorp Inc. trustee has sued IndyMac’s former chief executive officer directors for allegedly squandering the failed firm’s assets and ignoring warning signals.

Mortgage Graveyard Litigation


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