The New York Supreme Court on Wednesday ruled that MBIA Insurance Corp. did not have any way to discover if GMAC Mortgage LLC intentionally misrepresented the true nature of mortgage-backed securities that MBIA insured. “It is not clear whether MBIA could have discovered the alleged misrepresentations concerning the loan characteristics before entering into the insurance agreements,” Judge Bernard Fried wrote in his 15-page decision.
NY judge rules MBIA couldn’t tell if GMAC misrepresented MBS
Most Popular Articles
Latest Articles
NAMB partners with Roomvu on digital marketing efforts
NAMB members can use automation tools through Roomvu to market their services, create content and distribute newsletters.
-
New American Funding onboards top Chicago loan officer
-
Opinion: No benefit to home sellers is worth sacrificing first-time homebuyers
-
Weekly active inventory growth still too slow
-
While the Austin housing market isn’t sizzling, agents say it is still warm
-
CMLS looks to weigh in on the DOJ’s statement of interest