Monday, September 27, 2010

Banks Pressed on Sour Home Loans

Wall Street Journal: Big U.S. banks are facing legal pressure to make up for losses tied to pools of soured low-end mortgage loans.

In the latest effort, a group of investors in 2,300 mortgage securities worth roughly $500 billion is seeking to force several banks that originated or are now servicing faulty subprime-mortgage loans to repurchase or modify them.

http://online.wsj.com/article/SB10001424052748704814204575508143329644732.html

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