On February 8, 2022, the Court of Appeals will hear reargument in U.S. Bank National Association v DLJ, APL-2020-18. The case issue statement describes the issues as:
Contracts–Breach or Performance of Contracts–Whether the doctrine of relation back permits a residential mortgage-backed securities (RMBS) plaintiff-trustee to assert otherwise untimely notice-based claims for any loan in an RMBS trust, and thereby excuse the plaintiff’s failure to comply with a contractual precondition to invoking the repurchase remedy, when the plaintiff provided timely pre-suit repurchase demands relating to some specified loans in the trust; Whether plaintiffs are entitled to recover as damages interest that did not, in fact, accrue when an RMBS contractual provision provides for the payment of “accrued” interest as part of the repurchase remedy.