Morgan Stanley Sued Over $110 Million in Mortgage Loans

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On September 28, an RMBS trustee sued a Morgan Stanley unit in the Supreme Court for the State of New York, alleging that Morgan Stanley sold RMBS backed by defective mortgage loans. The trustee asserts that Morgan Stanley breached its contractual obligations by failing to cure or repurchase any of the allegedly defective loans. Plaintiff’s claims are for breach of contract and it requests specific performance and damages of over $110 million. Complaint.