First Department Addresses Several Put-Back Action Issues

First Department Addresses Several Put-Back Action Issues

Today, the First Department issued a decision in Computershare v. Natixis. The decision touches on several topics, including whether raising a borrowing statute argument (that is, arguing that another jurisdiction’s shorter statute of limitations applied) should be barred when it was raised for the first time five years into the case (it was not). Continue reading First Department Addresses Several Put-Back Action Issues

When Initial Put-Back Demand is Timely, Later Notices Relate Back to the Initial, Timely Notice

When Initial Put-Back Demand is Timely, Later Notices Relate Back to the Initial, Timely Notice

On October 10, 2019, the First Department issued a decision in U.S. Bank N.A. v. DLJ Mtge. Capital, Inc., 2019 NY Slip Op. 07327 [176 AD3d 466], holding that when an initial put-back demand is timely made and gives notice of the possibility that other nonconforming loans might later be identified, later notices of nonconforming loans relate back to the initial, timely notice. Continue reading When Initial Put-Back Demand is Timely, Later Notices Relate Back to the Initial, Timely Notice