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.