In a recent Bloomberg article, Bank of America (BAC) was sued by HSH Nordbank AG for more than $218 million in residential mortgage-backed securitizations.
The German regional lender sued BofA on Dec. 14, accusing the company and its Countrywide unit about the underwriting standards for mortgage loans that were pooled togther into the securities.
Here’s a bit from the article:
HSH Nordbank is one of a group of regional German lenders that have sued over mortgage-backed securities in New York during the past year. HSH Nordbank filed a similar suit against Goldman Sachs Group Inc. and Morgan Stanley in August.
Click here to read more.
