Federal Judge Denies Expert Testimony In Residential Mortgage Securities Dispute

(August 19, 2015, 12:04 PM EDT) -- NEW YORK — An expert cannot testify on the proper amount of damages due to Bank of New York Mellon (BoNY) based on agreements concerning residential mortgage-backed securities, a New York federal judge ruled Aug. 18, finding that the agreements provide a formula for recovery before and after liquidation of a loan (The Bank of New York Mellon, solely as Trustee for GE-WMC Mortgage Securities Trust 2006-1 v. WMC Mortgage, LLC and GE Mortgage Holding, LLC, No. 12-7096, S.D. N.Y.; 2015 U.S. Dist. LEXIS 108320)....
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