FHFA Sues RBS Predecessor Over Securities Buyback Deal

Law360, New York (December 17, 2012, 7:02 PM EST) -- The Federal Housing Finance Agency hit an entity now known as RBS Financial Products Inc. with a suit in New York state court on Friday, saying it had not fulfilled its contractual obligation to buy back mortgage-backed securities gone bad.

Acting as conservator for Freddie Mac, which is trustee for the loan pool known as Harborview Mortgage Loan Trust 2006-12, the FHFA contends that the entity once known as Greenwich Capital Financial Products Inc. made wrongful representations and warranties in a pooling and servicing agreement, regarding...
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