Lehman XS Trust v. Greenpoint Mortage Funding, Inc.
- Summarized by Samuel Henninger , University of Tennessee College of Law
- 2 months 1 week ago
- Case Type:
- Business
- Case Status:
- Affirmed
- Citation:
- No. 17-1290, 2019 WL 452888 (2nd Circuit, Feb 06,2019) Published
- Tag(s):
-
- Ruling:
- District court properly dismissed U.S. Bank's claims as untimely. The claims were for breach of contract, indemnification, and breach of indemnification agreements.
- Procedural context:
- After the cure periods expired, FHFA sued GreenPoint. Greenpoint removed the actions to federal court. FHFA later dropped out, and U.S. Bank became the sole plaintiff. District court entered judgment in favor of GreenPoint.
- Facts:
- Lehman purchased pools of mortgages from GreenPoint, with U.S. Bank acting as trustee. The loans were conveyed to three trusts. Nearly all the loans were in breach.
- Judge(s):
- Wesley, Chin, Carney
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