Home Loan Bank aims to force Wall Street firms to buy back MBS

02/16/2010 | Wall Street Journal, The

The Federal Home Loan Bank of Seattle has filed 11 separate lawsuits against Wall Street financial institutions, striving to force the banks to buy back mortgage-backed securities that have soured. The Seattle bank alleges that underwriters misled it about the quality of the securities, many of which were made up of subprime and Alt-A mortgages.

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Wall Street Journal, The

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