The Federal Home Loan Bank of Seattle has launched a series of lawsuits against Wall Street banks, seeking to force them to buy back souring mortgage-backed securities. In 11 separate lawsuits filed in late December in King County Superior Court in Washington, the Seattle bank alleges that it was misled by underwriters about the quality of $4 billion of securities it purchased as investments at the height of the housing boom. The Seattle bank is seeking to force the firms to repurchase the securities, plus interest. The $4 billion in securities represents the majority of private-label mortgage securities held by the bank, based on its most recent quarterly earnings filings. Private-label securities aren’t backed by a government-related entity.
Paul Jackson is the former publisher and CEO at HousingWire.see full bio
Most Popular Articles
Foreclosures climb 21% in first half of 2026, pushed by higher stress in FHA, VA mortgages
U.S. foreclosure activity rose again in the first half of 2026, with 227,548 properties receiving filings, up 21% from the same period in 2025, according to ATTOM’s midyear foreclosure report.
Jul 16, 2026
-
Housing costs, delayed marriage and the first-time buyer squeeze
Jul 16, 2026 -
Stanley Martin buying Holiday Builders highlights hyper-scale shift
Jul 16, 2026 -
The housing market’s inventory rebound is shifting power to buyers, but not everywhere
Jul 17, 2026 -
UHM acquires AmeriTrust assets, expands non-QM footprint
Jul 17, 2026 -
Can the housing market weather Iran conflict 2.0 and higher rates?
Jul 18, 2026
Latest Articles
The Holiday acquisition is about Daiwa House’s next decade
The long game Was never about one Acquisition Viewed through a sharply narrowed lens of a single transaction, Holiday Builders adds another respected, cycle-tested, deeply regionally invested homebuilder to Stanley Martin Homes‘ growing portfolio. However, through the panoramic landscape lens of Daiwa House‘s long-term strategy, however, the acquisition takes on a considerably more significant mission […]
-
M/I, Meritage team up to fund $7.6M bridge to growth in a Texas town
-
Compass moves from AI content creation to AI task execution in Home Platform
-
AD Mortgage flags condo reserve rules in FHFA letter
-
How high can mortgage rates go with Iran conflict 2.0?
-
NEXA Lending and former partner Mat Grella end legal fight
Paul Jackson is the former publisher and CEO at HousingWire.see full bio