Tag Archives: Judge Rakoff

Judge Rakoff Issues First Verdict Ever For Insurer and Against Bank for Bad Mortgages

Judge Rakoff issued an opinion with significant implications for parties litigating cases involving mortgage backed securities. In Assured Guaranty v. Flagstar Bank, Assured sought to recover some $89 million in insurance claims it paid to bondholders who invested in Flagstar bonds secured by what turned out to be lousy mortgages. When the mortgage market collapsed, the … Continue Reading
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