News & Analysis as of

Representations and Warranties Residential Mortgage-Backed Securities Statute of Limitations

Bilzin Sumberg

Rulings on Standing and Statute of Limitations Deliver Huge Blow to RMBS Investors

Bilzin Sumberg on

Last week, the U.S. District Court for the Southern District of New York dealt a major blow to mortgage investors in two parallel actions pending for the past few years. The impact proved to be fatal to one of the actions,...more

Bilzin Sumberg

New York High Court Rules on Statute of Limitations

Bilzin Sumberg on

Over the last several years, we have posted several times about whether the statute of limitations bars remedies against lenders (and sometimes sponsors and trustees) of residential mortgages. ...more

Orrick - Finance 20/20

New York High Court Affirms Dismissal of Repurchase Claims As Untimely

Orrick - Finance 20/20 on

On October 16, the New York Court of Appeals affirmed the dismissal of the RMBS repurchase action brought by Deutsche Bank National Trust Company, in its capacity as Trustee of the Harborview Mortgage Loan Trust Series...more

Farrell Fritz, P.C.

Does "freedom of contract" really exist when it comes to statute of limitations in a mortgage-backed securities contract?

Farrell Fritz, P.C. on

Although we generally report on recent Commercial Division decisions, and sometimes commercial cases coming out of the Appellate Divisions, this time we go all the way to the top: the Court of Appeals. Not often do we see...more

Cadwalader, Wickersham & Taft LLP

Accrual Clauses in RMBS Contracts Violate New York Law and Public Policy

On October 16, 2018, the New York State Court of Appeals held that contractual attempts to extend the statute of limitations for causes of action involving breaches of contract are unenforceable because they violate New York...more

Orrick - Finance 20/20

New York’s Highest Court Affirms Dismissal of RMBS Suit Against DB Structured Products as Time-Barred

Orrick - Finance 20/20 on

On June 11, 2015, the New York Court of Appeals issued its decision in the closely-followed case of ACE Securities Corp., Home Equity Loan Trust, Series 2006-SL2 v. DB Structured Products, Inc. New York’s highest court...more

Orrick - Finance 20/20

S.D.N.Y. Rejects “Pervasive Breach” Claim and Issues Numerous RMBS Rulings In Deciding Trusts’ and Issuer’s Motions for Summary...

On January 9, 2015, in a series of rulings, Judge P. Kevin Castel of the United States Court for the Southern District of New York granted in part and denied in part motions for partial summary judgment brought by three MASTR...more

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