Complex Mortgage Contractual Indemnity Litigation
Loan Originators and Sellers
Defense of ten loan originators and sellers in the RFC and ResCap Liquidating Trust Litigation. More than eighty suits comprising the consolidated action were brought by the successor to one of the largest private purchasers of mortgage loans, seeking repurchase and indemnification arising out of the sale of billions of dollars' worth of mortgage loans which were pooled by the plaintiff into mortgage-backed securities.
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Defense of mortgage loan originators against claims brought throughout the country asserting over $500 million in cumulative damages. The cases were initiated by major financial institutions seeking repurchase of or indemnification for large volumes of residential mortgage loans sold before the 2008...
Representation of homebuilder captive mortgage company in litigation brought by the FDIC, demanding repurchase of or indemnification for mortgage loans sold to IndyMac Bank. The FDIC settled all loans at issue, as well as almost 2,000 other loans allegedly subject to breaches of representations and ...
Representation of mortgage company in its defense against a $270 million breach of contract and indemnification action. After defeats in similar cases in other federal and state courts, Lehman Brotherssought recourse for new lawsuits in the Southern District of New York. Over 100 companies are being...