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GC Asia
Settlements could be driving non-agency RMBS liquidations
Liquidations in non-agency RMBS are outpacing other asset classes as month end approaches, perhaps driven by litigation, according to market sources.
Developing case law over representations and warranties of soured loans is believed to have encouraged non-agency RMBS sales. While some lawsuits against banks and trustees over reps and warranties and accompanying put-back risk remain outstanding, the recent approval of Bank of America’s landmark $8.5bn settlement dealt a blow
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