Real Property Update - Foreclosure/Standing/Lost Note: if plaintiff did not have right to enforce note when lost, plaintiff should present evidence of assignment from payee to plaintiff or affidavit of ownership - ...more
After years of litigation costing tens of millions of dollars, the Federal Housing Finance Agency has hit upon a way to expedite resolution of breach of representation and warranty claims that, if successful, could minimize...more
On September 18, 2015, Justice Shirley Kornreich of the Supreme Court of the State of New York dismissed a $600 million suit brought by Bank of New York Mellon, as securitization trustee (“BNYM”), against WLM Mortgage, LLC,...more
Warranty/Guaranty Provisions in Construction Contracts - The most confusion I have seen in the discussion of construction topics concerns the concepts of “warranty” and “guaranty.” This article will address the...more
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
On February 14, Judge Analisa Torres of the United States District Court for the Southern District of New York granted in part defendant Sand Canyon Corporation’s motion to dismiss the amended complaint of plaintiff Homeward...more
On November 30, Deutsche Bank National Trust Company (Deutsche Bank), acting as trustee for the Securitized Asset Backed Receivables L.L.C. Trust 2006-WM3 (the “Trust”), filed a complaint against General Electric Capital...more