U.S. Bank NA, as trustee v. Morgan Stanley Mortgage Capital Holdings
Published on:
February 13, 2017
Committee:
SIFMA has submitted an Amicus “Friend of the Court” Brief.
Court:
New York Court of Appeals
Amicus Issue:
Whether a plaintiff may circumvent a sole remedy provision within a pooling and services agreement – which provides that the sole remedy for a breach of the mortgage representations is cure or repurchase of the loans – by also alleging that the defendant willfully or with gross negligence included numerous defective loans in the pool and failed to repurchase such loans on demand.
Counsel of Record:
Paul Hastings LLP
Shahzeb Lari
Jessica Montes
Timothy D. Reynolds
Other Amici:
None.