November 28, 2012
HSH Nordbank Sues Barclays Bank for Fraud in Issuing Mortgage-Backed Securities
In HSH Nordbank v. Barclays Bank, No. 652678/2011 (New York County Apr. 2, 2012), HSH Nordbank claims that Barclays Bank issued MBS offering materials that included false and misleading statements regarding (1) assignment of mortgages and notes to trusts, (2) the tax treatment of trusts as REMICs, (3) occupancy status of homes secured by mortgages, (4) the combined loan-to-value ratios of mortgages, and (5) compliance with underwriting standards.
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