GreenPoint Mortgage Sued For Fraud By CIFG

Orrick - Finance 20/20
Contact
LinkedIn
Facebook
X
Send
Embed

On October 1, CIFG Assurance North America filed a summons with notice against GreenPoint Mortgage Funding Inc. in the Supreme Court for the State of New York, New York County. The monoline insurer alleges that GreenPoint misrepresented the quality and characteristics of $58 million in residential mortgage loans in the pool backing $277 million in RMBS partially insured by CIFG. CIFG further alleges that GreenPoint has failed to comply with its contractual obligations to repurchase the allegedly defective loans. The insurer’s claims are for fraud, breach of contract, and specific performance. Summons with Notice.

Send Print Report

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Orrick - Finance 20/20 | Attorney Advertising

Written by:

Orrick - Finance 20/20
Orrick - Finance 20/20
Contact
more
less

PUBLISH YOUR CONTENT ON JD SUPRA NOW

  • Increased visibility
  • Actionable analytics
  • Ongoing guidance

Orrick - Finance 20/20 on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign Up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide