GS, MS Sued By German Lender Over MBS

German lender HSH Nordbank has sued Goldman Sachs and Morgan Stanley for allegedly making “material misrepresentations and omissions” concerning the underwriting standards it used to issue loans in mortgage-backed securities.

  • 27 Aug 2012
German lender HSH Nordbank has sued Goldman Sachs and Morgan Stanley for allegedly making “material misrepresentations and omissions” concerning the underwriting standards it used to issue loans in mortgage-backed securities. Goldman Sachs sold $110 million and Morgan Stanley $524 million in MBS to the bank, according to Nordbank’s ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 6,415 22 12.84
2 Citi 5,781 17 11.57
3 BNP Paribas 3,530 14 7.06
4 Credit Suisse 2,783 8 5.57
5 Rabobank 2,633 4 5.27

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1 Citi 98,446.48 276 13.35%
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3 Wells Fargo Securities 70,282.48 216 9.53%
4 JPMorgan 51,967.93 167 7.05%
5 Credit Suisse 41,447.11 125 5.62%