UBS could be the first of the European banks to pay up for misleading mortgage giants Fannie Mae and Freddie Mac over the quality of packaged mortgage backed securities sold leading up to the housing market crash.
Tag: securities
ACLU Sues Morgan Stanley for Discriminatory Lending
Yet another lawsuit has been filed against the “big banks” in relation to the lending standards and practices employed by the companies leading up to the housing market crash. What seperates this case from others is the fact that this is the first case brought by homeowners (not government) against an investment bank.