Justice Andrew Borrok of the New York County Commercial Division of the New York State Supreme Court. Courtesy photo NY Judge: Buyers Must Pay Deferred Principal in RMBS Transactions
In a win for RMBS investors, Manhattan Supreme Court Justice Andrew Borrok of the Commercial Division found that petitioners must recalculate the amount paid by trust servicers in instances involving the "clean up call" provisions.
October 04, 2023 at 05:17 PM
3 minute read
Deferred balances should be included as part of the call price during consensual termination of residential-backed mortgage securities (RMBS), a New York judge has ruled.
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