Announcing Pendency of a Class Action Involving Purchasers of Home Equity Mortgage Trust Series 2006-5 and 2007-2 Mortgage Pass-through Certificates

NEW YORK, July 18, 2014 /PRNewswire/ --

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION

TO:        ALL PERSONS WHO PURCHASED HOME EQUITY MORTGAGE TRUST, SERIES 2006-5 ("HEMT 2006-5 CERTIFICATES") AND HOME EQUITY MORTGAGE TRUST, SERIES 2007-2 ("HEMT 2007-2 CERTIFICATES"), PURSUANT OR TRACEABLE TO THE REGISTRATION STATEMENT AND ACCOMPANYING PROSPECTUS  (COLLECTIVELY, THE "OFFERING DOCUMENTS") FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ("SEC") BY CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORPORATION ("CSMSCo") ON AUGUST 10, 2006 AND WHO WERE DAMAGED THEREBY:

YOU ARE HEREBY NOTIFIED THAT A CLASS HAS BEEN CERTIFIED IN PENDING LITIGATION THAT MAY AFFECT YOUR RIGHTS.

If you are a member of the class described above, your rights may be affected by the lawsuit referred to as New Jersey Carpenters Health Fund v. DLJ Mortgage Capital, Inc., et al., Civ. No. 08-5653 (PAC), which is now pending before the United States District Court for the Southern District of New York (the "Court"), brought by Lead Plaintiff, New Jersey Carpenters Health Fund, on behalf of itself and others similarly situated, against Credit Suisse Securities (USA) LLC, DLJ Mortgage Capital, Inc., Credit Suisse Management, LLC f/k/a Credit Suisse First Boston Mortgage Securities Corporation, Andrew A. Kimura, Thomas Zingalli, Jeffrey A. Altabef, Michael A. Marriott, and Evelyn Echevarria (collectively, "Defendants").

On August 16, 2011, the Court determined that the Action may proceed as a class action pursuant to Rule 23 of the Federal Rules of Civil Procedure with respect to the HEMT 2006-5 Certificates.  On or about November 21, 2011, notice was sent to potential class members. On March 17, 2014, the Court expanded the Certified Class to include the HEMT 2007-2 Certificates. You may be a member of the Class. Excluded from the Class are Defendants; the other officers and directors of Defendants; members of their immediate families and their legal representatives, heirs, successors, or assigns; and any entity in which Defendants have or had a controlling interest.

This Notice is not an expression of any opinion by the Court with respect to the merits of the claims or the defenses asserted in the Action.  This Notice is merely to advise you of the pendency of this Action and of your rights therein.

If you have not yet received the "Notice of Pendency of Class Action" which describes the Class Action and your related rights in detail, you may obtain a copy by contacting:

HEMT MBS LITIGATION
c/o Epiq Class Action & Claims Solutions, Inc.
P.O. Box 3266
Portland, OR 92708-3266
Toll-Free: (877) 854-3797

If you fall within the definition of the Class set forth above, you are a member of the Class. IF YOU WISH TO REMAIN A MEMBER OF THE CLASS, YOU DO NOT NEED TO DO ANYTHING AT THIS TIME.

If you wish to be excluded from the Class, you must send a direction to be excluded to HEMT MBS LITIGATION EXCLUSIONS c/o Epiq Class Action & Claims Solutions, Inc., P.O. Box 3266, Portland, OR 92708-3266, postmarked no later than October 16, 2014.  There are specific requirements for being excluded that are set forth in the detailed Notice of Pendency of Class Action.  In addition, inquiries regarding this litigation may be addressed to:  

PLEASE DO NOT CALL THE COURT OR THE DISTRICT CLERK'S OFFICE REGARDING THIS NOTICE.

Dated: July 18, 2014                                        UNITED STATES DISTRICT COURT
                                                                      SOUTHERN DISTRICT OF NEW YORK

SOURCE United States District Court, Southern District of New York