Mortgage investors zeroing in on subprime lender

"A group of mortgage bond investors is reaching out for help in a novel bid to force H&R Block Inc's defunct subprime lending unit to buy back billions of dollars in soured mortgages, the group's lawyer said on Monday... Losses on Option One's securitized loans could top $12 billion, based on those already registered and loans that are delinquent or in foreclosure, according to a source close to the group. That dwarfs the $740 million in claims registered with SCC through January 31, according to an H&R Block regulatory filing.''