$25 Million Contractual Indemnification Lawsuit

National Savings Bank

Defense of a national savings bank against a $25 million contractual indemnification lawsuit filed in federal court in New York City. The lawsuit involved mortgage-backed securities and claims by the plaintiff of misrepresentations by our client regarding a portion of the assets that were securitized by the plaintiff. The case was resolved confidentially for a fraction of the original stated value and dismissed with prejudice.

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Enza G. Boderone

Enza G. Boderone

Of Counsel
Philip R. Stein

Philip R. Stein

Partner, Litigation Practice Group Leader
Kenneth Duvall

Kenneth Duvall

Partner
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Experience

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...

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Representation of one of the country's largest special servicers regarding its consent to transfer all beneficial ownership interests in several borrowers to a company that became a publicly traded REIT pursuant to a $400 million IPO. The REIT owns over 1,000 properties leased to over 150 single pro...
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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...
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