FGIC files complaints re:
Financial Guaranty Insurance Company today announced that yesterday it had filed complaints in the Supreme Court of the State of New York against Residential Funding Company LLC, GMAC Mortgage LLC and certain of their respective affiliates in connection with four FGIC-insured residential mortgage-backed securities transactions.
The FSA comes under widespread criticism in the report saying its failures in the saga ``amount to a serious indictment'' of bosses at both the bank and the regulator.