Deutsche Bank National Trust Co. v. Flagstar Capital Markets Corp.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Acosta, J.
In this appeal, we must decide whether the statute of limitations bars a breach of contract action that was brought more than six years after the seller made allegedly false representations and warranties as to loans underlying residential mortgage-backed securities (RMBS). We find that dismissal of the action is mandated by the Court of Appeals’ decision in ACE Sec. Corp., Home Equity Loan Trust, Series 2006-SL2 v DB Structured Prods., Inc. (25 NY3d 581 [2015]), which sets forth a clear rule that a breach of contract claim in an RMBS put-back action accrues on…
2Cases cited6 opinions
- Oppenheimer & Co. v. Oppenheim, Appel, Dixon & Co.New York Court of Appeals · 1995
- John J. Kassner & Co. v. City of New YorkNew York Court of Appeals · 1979
- ACE Securities Corp. v. DB Structured Products, Inc.New York Court of Appeals · 2015
- Deutsche Bank National Trust Co. ex rel. GSR Mortgage Loan Trust 2007-OA1 v. Quicken Loans Inc.Court of Appeals for the Second Circuit · 2015
- Shapley v. . AbbottNew York Court of Appeals · 1870
1 more not listed; retrieve them via the Exa API.
3Cited by15 opinions
- Nomura Home Equity Loan, Inc. v. Nomura Credit & Capital, Inc.Court for the Trial of Impeachments and Correction of Errors · 2017
- Deutsche Bank Natl. Trust Co. v. Flagstar Capital Mkts.New York Court of Appeals · 2018
- Bank of New York Mellon v. WMC Mortgage, LLCAppellate Division of the Supreme Court of the State of New York · 2017
- Bank of New York Mellon v. WMC Mortgage, LLCNew York Supreme Court · 2016
- Federal Housing Finance Agency v. Morgan Stanley ABS Capital I Inc.Appellate Division of the Supreme Court of the State of New York · 2017
10 more not listed; retrieve them via the Exa API.