Relevant:
- RMBS Working Group Files Suit against Credit Suisse
- Ambac Sues Countrywide, Alleging False Information On MBS
- SEC Invites Whistleblower Claims in JPMorgan Chase Mortgage Settlement
- Royal Bank of Scotland to Pay $153.7 Million to Settle Mortgage Case
- DeMarco's days may be numbered and yet he takes a swat at BofA
2012-10-02 — cnn.com
``The suit, filed Monday, alleges that Bear misled investors into believing that its staff had carefully evaluated the quality of the loans making up the mortgage-backed securities it was selling. In fact, the suit claims, Bear "systematically failed to fully evaluate the loans, largely ignored the defects that their limited review did uncover, and kept investors in the dark about both the inadequacy of their review procedures and the defects in the underlying loans." ''
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