{"id":1165,"date":"2012-12-08T12:58:01","date_gmt":"2012-12-08T12:58:01","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2012\/12\/fhfa_lawsuits_against_barclays"},"modified":"2022-03-09T16:32:10","modified_gmt":"2022-03-09T22:32:10","slug":"fhfa-lawsuits-against-barclays","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/fhfa-lawsuits-against-barclays\/","title":{"rendered":"FHFA Lawsuits Against Barclays Bank, Morgan Stanley, & Deutsche Bank Over RMBS to Proceed to Trial"},"content":{"rendered":"

\t\t\t\tThe U.S. District Court for the Southern District of New York is allowing the Federal Housing Finance Agency’s residential mortgage-backed securities lawsuits<\/a> against Deutsche Bank AG, Morgan Stanley (MS)<\/a>, Barclays Bank PLC (BCS), and RBS Securities to go to trial even while granting the dismissal of some of the motions having to do with alleged misstatements about owner-occupancy information and loan-to-value ratio. FHFA is the conservator for Freddie Mac and Fannie Mae against numerous financial institutions for alleged securities law violations related to the sale and offer of RMBS.<\/p>\n

According to the complaints, which are part of 17 FHFA lawsuits that were brought in September 2011, from 2005 to 2007 the offering documents used to sell RMBS to the government sponsored enterprises included material misstatements or omissions about LTV, owner-occupancy status, and mortgage-underwriting standards. (Based on these allegations, the SEC made claims under the Virginia Securities Act, the 1933 Securities Act, and the District of Columbia Securities Act) In the FHFA’s complaints against Morgan Stanley, Deutsche Bank, and in four of the other cases, the agency is making New York common law claims of aiding and abetting fraud and fraud on the basis of three categories of alleged misstatements that the securities law claims were based upon. <\/p>\n

Per the Federal Housing Finance Agency v. Deutsche Bank AG<\/em>, the financial firm, a number of its corporate affiliates, and associated individuals were named defendants for acting as lead underwriter for 40 securitizations, as well as a depositor and sponsor for 35 of them. The defendants submitted motions to dismiss the fraud claims and claims, pointing to DC law and Virginia law as basis. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The U.S. District Court for the Southern District of New York is allowing the Federal Housing Finance Agency’s residential mortgage-backed securities lawsuits against Deutsche Bank AG, Morgan Stanley (MS), Barclays Bank PLC (BCS), and RBS Securities to go to trial even while granting the dismissal of some of the motions having to do with alleged […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3753],"tags":[],"class_list":["post-1165","post","type-post","status-publish","format-standard","hentry","category-mortgage-backed-securities"],"yoast_head":"\nFHFA Lawsuits Against Barclays Bank, Morgan Stanley, & Deutsche Bank Over RMBS to Proceed to Trial — Investor Lawyers Blog — December 8, 2012<\/title>\n<meta name=\"description\" content=\"The U.S. District Court for the Southern District of New York is 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