$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.

Enza G. Boderone
Of Counsel
Philip R. Stein
Practice Group Leader, Trial & Litigation
Kenneth Duvall
Partner & Assistant General Counsel
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...
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 th...
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 ...