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:
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MSAC 2005-HE4 |
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MSAC 2007-HE6 |
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MSM 2005-8SL |
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MSM 2007-13 |
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MSAC 2005-HE5 |
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MSAC 2007-HE7 |
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MSM 2005-9AR |
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MSM 2007-14AR |
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MSAC 2005-HE7 |
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MSAC 2007-NC1 |
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MSM 2006-11 |
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MSM 2007-15AR |
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MSAC 2006-HE1 |
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MSAC 2007-NC2 |
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MSM 2006-12XS |
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MSM 2007-1XS |
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MSAC 2006-HE3 |
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MSAC 2007-NC3 |
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MSM 2006-13AX |
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MSM 2007-2AX |
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MSAC 2006-HE4 |
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MSAC 2007-NC4 |
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MSM 2006-15XS |
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MSM 2007-3XS |
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MSAC 2006-HE5 |
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MSAC 2007-SEA1 |
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MSM 2006-16AX |
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MSM 2007-5AX |
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MSAC 2006-HE6 |
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MSHEL 2006-1 |
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MSM 2006-17XS |
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MSM 2007-6XS |
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MSAC 2006-NC1 |
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MSHEL 2007-1 |
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MSM 2006-1AR |
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MSM 2007-7AX |
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MSAC 2006-NC2 |
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MSIX 2006-1 |
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MSM 2006-2 |
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MSM 2007-8XS |
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MSAC 2006-NC3 |
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MSM 2005-1 |
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MSM 2006-3AR |
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SAST 2006-1 |
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MSAC 2006-NC4 |
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MSM 2005-10 |
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MSM 2006-6AR |
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SAST 2007-1 |
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MSAC 2006-WMC1 |
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MSM 2005-11AR |
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MSM 2006-7 |
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SAST 2007-2 |
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MSAC 2006-WMC2 |
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MSM 2005-3AR |
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MSM 2006-8AR |
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SAST 2007-3 |
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MSAC 2007-HE1 |
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MSM 2005-4 |
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MSM 2006-9AR |
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IXIS 2006-HE3 |
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MSAC 2007-HE2 |
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MSM 2005-5AR |
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MSM 2007-10XS |
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MSAC 2007-HE3 |
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MSM 2005-6AR |
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MSM 2007-11AR |
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MSAC 2007-HE5 |
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MSM 2005-7 |
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MSM 2007-12 |
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Gibbs & Bruns is a leading boutique law firm engaging in high-stakes business and commercial litigation. The firm is renowned for its representation of both plaintiffs and defendants in complex matters, including significant securities and institutional investor litigation, director and officer liability, contract disputes, fraud and fiduciary claims, energy, oil and gas litigation, construction litigation, insurance litigation, trust and estate litigation, antitrust litigation, legal and professional malpractice, and partnership disputes. Gibbs & Bruns is routinely recognized as a top commercial litigation firm in the US. For more information, visit www.gibbsbruns.com.
Contact
Kathy Patrick
Gibbs & Bruns LLP
[email protected]
713.751.5253
