Investors Class Action Against Securitizers

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As Weidner points out, these cases are well worth your time in research. With their minions of lawyers, they have more information that is industry specific than you can accumulate or absorb.

Investors are aligning themselves with the interests of the borrowers. Here they are attacking the false representations of underwriting standards, but more importantly, they are confirming what we have been saying all along: the loan originator (who is really a mortgage broker) was named as Lender in the closing documents but had nothing to do with underwriting or funding the loan. They were an agent working for an undisclosed principal.

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