Investors Warn MBS Trustees to Be More Aggressive In Enforcing Pooling and Servicing Agreements
July 29, 2011
Trustees of residential MBS should consider themselves on notice that they need to be much more attentive and aggressive in meeting their obligations under the pooling and servicing agreements governing MBS trusts, according to a trade group representing investors. Last week, the Association of Mortgage Investors sent letters to several major MBS trustees including JPMorgan Chase, Deutsche Bank, US Bank, Wells Fargo and Bank of New York remind-ing them of their legal obligations to RMBS certificate holders. The AMI letter also informed trustees that ...