A New York judge has refused to dismiss a mortgage-backed securities lawsuit accusing U.S. Bank NA subsidiary, DLJ Mortgage Capital Inc, for failing to buy back bad loans in a $1bn pool of over 5,000 mortgages, stating that Credit Suisse makes a valid claim that a servicing agreement obligated it to do so.
A New York judge has refused to dismiss a mortgage-backed securities lawsuit accusing Credit Suisse subsidiary, DLJ Mortgage Capital Inc, for failing to buy back bad loans in a $1bn pool of over 5,000 mortgages, stating that U.S. Bank NA makes a valid claim that a servicing agreement obligated it to do so.