Bank of New York Mellon v. WMC Mortgage, et al.

SIFMA has submitted an Amicus “Friend of the Court” Brief.

Court:

New York Court of Appeals

Amicus Issue:

Whether a securitization sponsor’s agreement to a gap warranty that: (i) states that it applies for a limited period of time, and (ii) covers a variety of reported data, some of which were true or false at loan origination and some of which could change from true to false subsequent to loan origination, necessarily mean that the securitization sponsor was warranting the accuracy of all reported data regardless of when the data became false, rather than only if the reported data became false during the period of time referenced in the gap warranty.

Counsel of Record:

Stroock & Stroock & Lavan LLP

Michael C. Keats

David J. Kahne

Other Amici:

None.