Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Representing Investors who Lost Money in Morgan Keegan & Regions Morgan Keegan Bond Funds

Mark & Associates, P.C. is representing investors who lost money investing in two Regions Morgan Keegan open end bond mutual funds, the Morgan Keegan Select Intermediate Bond Fund (RIBCX) and the Morgan Keegan Select High Income Fund (MKHIX). Year to date, the Morgan Select Intermediate Bond Fund is down 50.5 percent and the Morgan Keegan Select High Income Fund is down 59.7 percent. Mark & Associates, P.C. is also representing investors in several Morgan Keegan closed end funds: RMK High Income Fund (RMH), RMK Strategic Income Fund (RSF), MK Multi Sector High Income Fund (RHY) and RMK Advantage Income Fund (RMA). These closed end funds have lost a tremendous amount of value, with some trading 75% below their 52 week highs.

If you lost money in a Morgan Keegan or Regions Morgan Keegan mutual fund you may be entitled to recover your losses. Contact Mark & Associates, P.C. today to see if you have a case by calling 1-866-50-RIGHTS (1-866-507-4448) or by completing the case evaluation form on the right side of this page.

Investors in Morgan Keegan & RMK Funds were Mislead

The precipitous decline in these funds was the result of their large investments in illiquid securities known as: Collateralized Bond Obligations (CBOs), Collateralized Loan Obligations (CLOs), and Collateralized Mortgage Obligations (CMOs). These securities rarely trade and have no active quotations. However, the illiquidity of these securities did not stop the funds from continuing to purchase them. To make matters worse, the funds invested heavily in CMOs based on subprime mortgages. In the summer of 2007, the subprime mortgage crisis began as defaults and foreclosures began to reach record numbers. As as result, many of the securities that held these types of mortgages lost a tremendous amount of their value or became completely worthless

The Morgan Keegan Select Intermediate Bond Fund and the Morgan Keegan Select High Income Fund were the only two intermediate term or high-yield bond funds that invested so heavily in these types of securities. In making these investments, Morgan Keegan violated the terms stated in the prospectuses for both of these funds, and mislead investors. For example, sales material dated June 30, 2007 states "Opportunity for High Current Income - The relatively conservative credit posture of the Fund reflects our goal of higher yields without excessive credit risk.” Investors in these Morgan Keegan funds were lead to believe they were making safe and conservative investments, but in reality this couldn't be further from the truth.

Legal Rights for Investors in Morgan Keegan & RMK Funds

It is one thing to lose money in the stock market when you know you are making risky investments. However, when an investor is lead to believe they are making a conservative investment in a bond mutual fund and then loses 50 to 60 percent of their investment, someone needs to be held accountable. Morgan Keegan and Regions Morgan Keegan intentionally mislead investors who purchased these funds. If you lost money investing in either one of these funds you may be entitled to compensation. Contact Mark & Associates, P.C. today for a free case consultation by submitting the form on the right side of this page or by calling 1-866-50-RIGHTS (1-866-507-4448). 

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