ResCap MBS Plaintiffs Want Docs Protected Following Sales

Law360, New York (October 29, 2012, 5:09 PM EDT) -- A group of plaintiffs who are suing Residential Capital LLC over mortgage-backed securities asked the judge overseeing the company's bankruptcy to make sure books and records are preserved during the $1.5 billion sale of ResCap's loan portfolio and $3 billion sale of its mortgage servicing and origination business.

The plaintiffs said they didn't object to the $1.5 billion sale of ResCap's legacy loan portfolio to Warren Buffett's Berkshire Hathaway Inc. or the $3 billion sale of its mortgage servicing and origination business to Ocwen Financial Corp. They just...
To view the full article, register now.