ABS Updates are brief notes on developing events relating to structured finance litigation
On March 17, 2022, the Court of Appeals issued a decision in U.S. Bank Natl. Assn. v. DLJ Mtge. Capital, Inc., 2022 NY Slip Op. 01866, holding that an RMBS trustee cannot rely on the relation back doctrine to avoid a pooling and servicing agreement’s pre-suit demand requirement. Continue reading RMBS Trustee Cannot Avoid Pre-Suit Put-Back Demand Requirement
On March 10, 2022, Judge Nathan of the S.D.N.Y. issued a decision in U.S. Bank v. Goldman Sachs, 19-cv-02305-AJN, rejecting the use of sampling in an RMBS put-back action. Continue reading SDNY Rejects Sampling in Put-back Action
U.S. Bank filed a TIP in Ramsey County, MN regarding a settlement of a put-back action relating to FFMER 2007-3. Here are the notice, settlement agreement and order setting a Zoom hearing for March 21. Anyone wanting to respond to the petition must do so no later than March 16. Continue reading FFMER 2007-3 TIP
On Tuesday, April 19, 2022, the Court of Appeals will hear argument in ACE Securities v DB Structured Prods., (No. 34), APL-2020-126. Continue reading Upcoming Court of Appeals Argument of Interest to RMBS Investors
