Gibbs & Bruns in a release said today that its clients have issued instructions to trustees US Bank and HSBC to open investigations of ineligible mortgages in pools backing more than $19 billion worth of RMBS issued by different Wells Fargo affiliates.

The law firm's clients together hold in excess of 25% of the voting rights in the 48 trusts that have issued these securitizations, the statement from Gibbs & Bruns said.

"Our clients continue to seek a comprehensive solution to the problems of ineligible mortgages in RMBS pools and deficient servicing of those loans," said Kathy Patrick, partner and lead counsel for the investors. "Today's action is another step toward achieving that goal."

Gibbs & Burns, which was also behind the Bank of America $8.5 billion MBS settlement, announced in mid-December as well that it is representing investors looking to settle claims against JPMorgan.

The law firm had announced at that time that its clients also issued instructions to BNY Mellon, US Bank, Wells Fargo, Citibank, and HSBC as trustees to open investigations of ineligible mortgages in pools backing more than $95 billion of RMBS issued by different JPMorgan affiliates.

In this case, collectively, the firm's clients hold over 25% of the voting rights in 243 trusts that issued these RMBS.

The securities that are the subject of the Wells Fargo instruction letters include:

WFALT 2005-1

WFMBS 2005-9

WFMBS 2006-19

WFMBS 2007-13

WFALT 2007-PA2

WFMBS 2005-AR11

WFMBS 2006-20

WFMBS 2007-8

WFALT 2007-PA3

WFMBS 2005-AR12

WFMBS 2006-6

WFMBS 2007-9

WFALT 2007-PA4

WFMBS 2005-AR14

WFMBS 2006-7

WFMBS 2007-AR3

WFALT 2007-PA6

WFMBS 2005-AR16

WFMBS 2006-8

WFMBS 2007-AR8

WFHET 2005-3

WFMBS 2005-AR3

WFMBS 2006-AR10

WMLT 2005-A

WFHET 2006-3

WFMBS 2005-AR5

WFMBS 2006-AR13

WMLT 2005-B

WFHET 2007-1

WFMBS 2005-AR8

WFMBS 2006-AR14

WMLT 2006-A

WFMBS 2005-12

WFMBS 2005-AR9

WFMBS 2006-AR18

WMLT 2006-ALT1

WFMBS 2005-17

WFMBS 2006-11

WFMBS 2006-AR2

WFMBS 2005-18

WFMBS 2006-13

WFMBS 2006-AR4

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