Housing Information :: Mortgage investors turn to state courts for relief

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Released: July 11, 2010

Mortgage investors turn to state courts for relief

Source: Gretchen Morgenson (Free Registration)

Investors who lost billions on boatloads of faulty mortgage securities have had a hard time holding Wall Street accountable for selling the things in the first place.

For the most part, banks have said they can’t be called out in court on any of this because they had no idea that so many of these loans went to people who lacked the resources to make even their first mortgage payment.

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