This article explores the parallels of the 2008 Great Recession with the financial distress recently caused by the coronavirus crisis, in creating litigation investment opportunities in the asset-backed securities market - the former with respect to residential mortgage-backed securities, and the latter focusing on bonds backed by auto loans.
After the 2008 financial crisis, the world of residential mortgage-backed securities ("RMBS") was a well-spring of litigation. Over the last ten or so years, trustees, investors, and insurers brought scores of lawsuits - some involving billions of dollars - against the lenders whose shoddy mortgage practices led the economy into crisis.
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