Subprime Litigation — Where Are We Now?

Law360, New York (April 14, 2009, 12:00 AM EDT) -- The collapse of the housing market led to a rash of defaults on subprime mortgages. The implications of those defaults go well beyond just the lender and the mortgage holders.

In addition to their impact on the broader economy, the rash of defaults have triggered a wave of securities fraud litigation around the country, a wave that, despite its importance (and sheer size), has been as of yet little understood.

We offer some initial understanding and analysis here. First, we catalogue briefly the types of subprime-related...
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