MassMutual Sues Impac Over $16M In 'Junk' MBS
Impac, which originated and securitized the mortgage loans, sold the mortgage-backed securities to MassMutual by claiming it had cautious underwriting standards, the suit said. In fact, Impac issued loans regardless of borrowers' ability to repay them, according to MassMutual, which also named JPMorgan Chase & Co. as a defendant.
“To take advantage of the exploding market...
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