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<a href="http://www.accessmylibrary.com/article-1G1-199799710/litigation-related-subprime-mortgages.html" title="Facts and information about Litigation related to subprime mortgages: a review of accounting concepts; subsequent events do not necessarily provide evidence regarding fair-value measurements and assumptions as of the balance-sheet date.(Lender Liability)">Litigation related to subprime mortgages: a review of accounting concepts; subsequent events do not necessarily provide evidence regarding fair-value measurements and assumptions as of the balance-sheet date.(Lender Liability)</a>
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Litigation related to subprime mortgages: a review of accounting concepts; subsequent events do not necessarily provide evidence regarding fair-value measurements and assumptions as of the balance-sheet date.(Lender Liability)
Of the top 10 subprime originators in 2006, all are facing borrower class actions, four are facing securities lawsuits, five are facing contract claims, and seven are facing employee class actions, bankruptcy-related filings or other litigation. These include the biggest names in the business.
While many of the 278 subprime lawsuits filed in 2007 were brought on behalf of consumers, 44 percent are contract claims and securities cases. Mortgage lenders, national commercial banks, federally chartered savings institutions and securities brokers are the biggest targets. In the securities cases, directors and officers are named in 80 percent of the suits; in ...
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