News & Analysis as of

Representations and Warranties Residential Mortgage-Backed Securities Trusts

Kramer Levin Naftalis & Frankel LLP

New York Court of Appeals Tightens Notice Requirements in RMBS Litigation

On March 17, 2022, the New York State Court of Appeals issued a significant decision affecting RMBS putback litigation governed by New York law. The decision, U.S. Bank National Association v. DLJ Mortgage Capital, 2022 WL...more

Bilzin Sumberg

Jury, Not Judge, Must Decide Meaning of Representations

Bilzin Sumberg on

Last month, New York’s intermediate appellate court reversed a grant of summary judgment in favor of plaintiff MBIA Ins. Corp. MBIA, an insurer of RMBS trusts and a common plaintiff in this type of litigation, had sued Credit...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 Federal Court Upholds Privilege and Specificity Requirements Regarding Alleged Awareness of Rep Breaches

Orrick - Finance 20/20 on

U.S. District Court Judge Katherine Polk Failla denied Plaintiff-Investors’ attempts in Blackrock Allocation Target Shares et al. v. Wells Fargo et al., No. 1:14-cv-09371 (S.D.N.Y.) to overturn two magistrate judge decisions...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

EBA Updates Single Rulebook Q&As - On October 16, 2015, the European Banking Authority (EBA) updated its Q&As on the single rulebook, publishing four new questions. The single rulebook Q&As relate to the CRD IV package...more

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