New York’s decision does not mean the end of RMBS litigation

By Donald Hawthorne (June 9, 2022, 6:04 p.m. EDT) — The wave of residential mortgage-backed securities, or RMBS, litigation that began with the 2008 financial crisis is now well into its second decade.

Cases continue to flow against the banks that issued mortgages and created RMBS and against the trustees and managers of these securitizations. New cases are always being filed, based on long-standing toll agreements, and there may be more to come. Hundreds of millions of dollars remain at stake.

On March 17, the New York Court of Appeals surprised many RMBS watchers with its long-awaited decision in US Bank National Association v. DLJ Mortgage Capital Inc., fired…

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