Bank of New York Mellon Trust Co. v. Morgan Stanley Mortgage Capital, Inc.

Judge WESLEY dissents in'a separate opinion.

REENA RAGGI, Circuit Judge:

In this breach-of-contract action, plaintiff Bank of New York Mellon Trust Company, N.A. (“BNY” or “Trustee”) appeals an award of summary judgment in favor of defendant Morgan Stanley Mortgage Capital, Inc. (“Morgan Stanley”) entered, on June 17,2014, in the United States District Court for the Southern District of New York (Colleen McMahon, Judge). BNY argues that the.district court erred in concluding, as a matter of law, that Morgan Stanley was not contractually, obliged to repurchase a mortgage loan allegedly issued in…