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.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.