University of Michigan Law School
Civil Rights Litigation Clearinghouse
Title "Mortgage Securitization Discrimination Litigation"
Date Jul 25, 2013
Author National Consumer Law Center
External Link https://www.nclc.org/issues/mortgage-securitization-discrimination-litigation.html
Abstract This landmark lawsuit was filed in the federal court in the Southern District of New York on behalf of Michigan Legal Services and African American homeowners in the Detroit, Michigan area. The suit claims that the Defendent violated federal and state housing and anti-discrimination laws by adopting mortgage securitization policies that caused predatory lending and adversely impacted African Americans. It is the first case where a prospective class of affected homeowners victimized by subprime lending abuses has directly sued an investment bank by linking civil rights and consumer laws. It is also the first lawsuit to connect racial discrimination to the securitization of mortgage-backed securities.
Source National Consumer Law Center


This Resource Relates To
case Adkins v. Morgan Stanley (FH-NY-0020)

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