Investors in MPL and auto lending should be aware of the similarities between what happened in the subprime lending mess of 2007 and what is happening today. There may not be the same wide-scale issues, but Joe Cioffi of Davis and Gilbert LLP says there are some warning signs for investors. He suggests investors should look at breach of representations based on failure to comply with laws, reps, and warranties. Looking at transaction documents from those subprime days, better and clearer documentation could have helped some defendents in defending a claim. Read more: lending-times.com
