A handful of critical lawsuits stemming from the mortgage market collapse may yield meaningful legal precedents for the securitization markets as 2012 unfolds, according to a legal observer. “We’re finally getting to the point where there can be meaningful precedent established,” said Isaac Gradman, a managing partner at IMG Enterprises. “For the last three or four years, there has been a wide gap in the claims banks have made and the claims monolines and investors have made as to the merits of these suits.” What comes from the courts will become the standards by which the new MBS market...