Wells Fargo sues EMC Mortgage over buybacks

Wells Fargo (WFC: 24.65 -2.14%) is jumping deeper into the MBS litigation fray by filing suit against EMC Mortgage, claiming the firm should buy back 800 toxic mortgages sold into the Bear Stearns Trust. Wells Fargo is suing in its capacity as trustee of the Bear Stearns Mortgage Funding Trust 2007-AR2. EMC Mortgage Corp. is now [...] Advertisement...