Credit Suisse Sued Over Mortgage Loans by Assured Guaranty
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A Credit Suisse Group AG unit was sued by over securitized mortgage loans for which Assured Guaranty Ltd. guaranteed payments to investors and that the bond insurer says were riskier than promised.
Credit Suisse’s DLJ Mortgage Capital Inc. misrepresented the quality of loans underlying the mortgage securities, exposing Assured to “hundreds of millions of dollars” in current and future claim payments, Assured units said in a complaint filed yesterday in New York state Supreme Court.