Law360, New York (July 25, 2016, 4:10 PM EDT) -- A New York state judge has tossed a suit alleging that Barclays Bank PLC and a defunct unit lied about the quality of the loans made up of $619 million in residential mortgage-backed securities, saying the claims were filed too late.New York Supreme Court Judge Marcy Friedman said U.S. Bank National Association, as trustee for a pool of $619 million in residential mortgage-backed securities, waited too long to pursue claims that Barclays and Equifirst Corp. misrepresented the quality of the underlying loans. The Federal Housing Finance Agency, as conservator, issued a summons on the six-year anniversary of the sale of... In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. TRY LAW360 FREE FOR SEVEN DAYS
A New York judge has dismissed a suit claiming that Barclays Bank and Equifirst, a defunct lender, lied about the quality of loans that were created from $$619 millionm in residential mortgage-backed securities.