It’s hornbook law that a later intentional breach of contract, alone, doesn’t equal promissory fraud. Holding it therefore cannot establish mail or wire fraud, the Second Circuit reversed the Government’s $1.2 Billion FIRREA...more
5/26/2016
/ Banking Sector ,
Breach of Contract ,
Countrywide ,
False Claims Act (FCA) ,
Fannie Mae ,
Financial Institutions ,
FIRREA ,
Freddie Mac ,
GSE ,
Mail Fraud ,
Mortgage Fraud ,
Mortgages ,
Wire Fraud
In a ruling that may signal the end to much of the litigation over mortgage-backed securities, New York’s highest court held limitations for breach of warranty litigation over portfolio loans run from the MLSA closing date...more