Assured Guaranty has sued DLJ Mortgage Capital and Credit Suisse, claiming breach of contract over $1.8 billion of MBS it insured.

Assured Guaranty claims DLJ Mortgage Capital failed to abide by its contractual obligations and that it securitized thousands of residential mortgage loans and induced investors to buy them and insurers to insure them by claiming the loans met specified standards. Assured claims those representations were false and Assured is exposed to hundreds of millions of dollars in current and future claims payments as a result.

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