INSTITUTIONAL BONDHOLDERS ISSUE INSTRUCTIONS TO THREE TRUSTEES TO OPEN INVESTIGATIONS OF INELIGIBLE MORTGAGES IN OVER $25 BILLION OF MORGAN STANLEY-ISSUED RMBS

HOUSTON (January 31) – Gibbs & Bruns LLP announced today that its clients have issued instructions to US Bank, Wells Fargo, and Deutsche Bank, as Trustees, to open investigations of ineligible mortgages in pools securing over $25 billion of Residential Mortgage Backed Securities (RMBS) issued by various affiliates of Morgan Stanley.  Collectively, Gibbs & Bruns’ clients hold over 25% of the Voting Rights in 69 Trusts that issued these RMBS.

“Our clients continue to seek a comprehensive solution to the problems of ineligible mortgages in RMBS pools and deficient servicing of those loans.  Today’s action is another step toward achieving that goal,” said Kathy D. Patrick of Gibbs & Bruns LLP, lead counsel for the Holders.

The Holders anticipate that they may provide additional instructions to Trustees, as needed, to further the investigations.  The securities that are the subject of these instruction letters include:

MSAC 2005-HE4

 

MSAC 2007-HE6

 

MSM 2005-8SL

 

MSM 2007-13

MSAC 2005-HE5

 

MSAC 2007-HE7

 

MSM 2005-9AR

 

MSM 2007-14AR

MSAC 2005-HE7

 

MSAC 2007-NC1

 

MSM 2006-11

 

MSM 2007-15AR

MSAC 2006-HE1

 

MSAC 2007-NC2

 

MSM 2006-12XS

 

MSM 2007-1XS

MSAC 2006-HE3

 

MSAC 2007-NC3

 

MSM 2006-13AX

 

MSM 2007-2AX

MSAC 2006-HE4

 

MSAC 2007-NC4

 

MSM 2006-15XS

 

MSM 2007-3XS

MSAC 2006-HE5

 

MSAC 2007-SEA1

 

MSM 2006-16AX

 

MSM 2007-5AX

MSAC 2006-HE6

 

MSHEL 2006-1

 

MSM 2006-17XS

 

MSM 2007-6XS

MSAC 2006-NC1

 

MSHEL 2007-1

 

MSM 2006-1AR

 

MSM 2007-7AX

MSAC 2006-NC2

 

MSIX 2006-1

 

MSM 2006-2

 

MSM 2007-8XS

MSAC 2006-NC3

 

MSM 2005-1

 

MSM 2006-3AR

 

SAST 2006-1

MSAC 2006-NC4

 

MSM 2005-10

 

MSM 2006-6AR

 

SAST 2007-1

MSAC 2006-WMC1

 

MSM 2005-11AR

 

MSM 2006-7

 

SAST 2007-2

MSAC 2006-WMC2

 

MSM 2005-3AR

 

MSM 2006-8AR

 

SAST 2007-3

MSAC 2007-HE1

 

MSM 2005-4

 

MSM 2006-9AR

 

IXIS 2006-HE3

MSAC 2007-HE2

 

MSM 2005-5AR

 

MSM 2007-10XS

 

 

MSAC 2007-HE3

 

MSM 2005-6AR

 

MSM 2007-11AR

 

 

MSAC 2007-HE5

 

MSM 2005-7

 

MSM 2007-12

 

 

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Contact
Kathy Patrick
Gibbs & Bruns LLP
kpatrick@gibbsbruns.com
713.751.5253