(Bloomberg) -- To revive the U.S. mortgage-bond market, investors need more protections to restore their confidence, according to a lawyer who works on behalf of BlackRock Inc. and Pacific Investment Management Co.

Underscoring why bond buyers are concerned that they may be disadvantaged, home-loan servicers have been able to settle U.S. government probes of their practices by agreeing to rework mortgages backing securities owned by investors to offer better terms for borrowers, Kathy Patrick, a partner at Gibbs & Bruns LLP, said yesterday at an industry conference in Las Vegas.

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