2nd Circuit: Breach Claims Over Loan Repurchase Refusal Are Time-Barred

(March 28, 2016, 12:16 PM EDT) -- NEW YORK — Finding that a mortgage loan trust brought its breach of contract claims related to a mortgagee’s refusal to repurchase a defaulted loan more than six years after New York law’s six-year statute of limitations, a Second Circuit U.S. Court of Appeals panel on March 18 deemed the claims time-barred and reversed a lower court’s ruling in the trust’s favor (U.S. Bank National Association v. Dexia Real Estate Capital Markets, No. 14-2859, 2nd. Cir.; 2016 U.S. App. LEXIS 4936).

(Summary order available. Document #85-160412-035R.)...
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