Assured Guaranty, Flagstar make final pleas in key loans case

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Assured Guaranty, Flagstar make final pleas in key loans case

Assured Guaranty, Flagstar make final pleas in key loans case

Reuters-

Lawyers delivered closing arguments in a closely watched U.S. case brought by Assured Guaranty Ltd (AGO.N) against Flagstar Bancorp Inc (FBC.N) over claims the quality of loans underlying $900 million in mortgage-backed securities were misrepresented.

More than three-fourths of 800 loans the bond insurer examined failed to comply with Flagstar’s underwriting guidelines, Assured counsel Jacob Buchdahl told the judge during closing arguments in a federal court in Manhattan on Monday.

Assured is seeking $116 million in damages.

[REUTERS]

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One Response to “Assured Guaranty, Flagstar make final pleas in key loans case”

  1. nydeemarie says:

    61 Ohio St. L.J. 1597 (2000)
    SEC and MDP: Implications of the Self-Serving Bias for Independent Auditing, The; Prentice, Robert A.

    (MDP/Multi-Disciplinary Practice)…

    http://heinonline.org/HOL/LandingPage?collection=journals&handle=hein.journals/ohslj61&div=38&id=&page=

    “However, there is a large body of behavioral studies demonstrating that, overwhelmingly, people tend to behave inequitable if it benefits them and they think they can get away with it…”

    Nah, really??? Say it isn’t so….lol

    Hmmm.. A LARGE BODY…

    as in..

    big, abundant, more than necessary, sufficient, easily noticed, considerable, apparent, ascertainable, clear-cut, definite, detectable, RECOGNIZABLE…etc., etc.,… ?

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