``We don't know how much BofA paid to make the cases go away, unfortunately. But in my mind, these settlements are a milestone in MBS litigation. Dozens of suits in which big MBS investors accuse MBS sponsors of securities fraud under state and federal laws have been filed, including almost three dozen against Countrywide alone. German regional banks that have lost billions of dollars in MBS investments have been particularly prolific plaintiffs since Sealink and Baden-Wuerttemberg first filed suits against BofA and JPMorgan last September, but they're not alone. Several U.S. insurance companies, including AIG, have asserted billions in securities fraud claims; and, of course, there's the Godzilla of MBS securities litigation: the Federal Housing Finance Agency, which has sued every MBS player for fraud related to Fannie Mae and Freddie Mac's $200 billion investments in mortgage-backed securities. (These securities cases by individual investors are distinct from MBS class actions, which have been a relative disappointment for MBS holders and are in their twilight. They're also distinct from investors' put-back, or breach of representation and warranty, suits.)''

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