American Home Units Sue BofA For $25M

Law360, New York (October 23, 2007, 12:00 AM EDT) -- Three affiliates of bankrupt American Home Mortgage Holdings Inc. have accused Bank of America NA of reneging on swap agreements in which they are entitled to more than $25 million.

Broadhollow Funding LLC, Melville Funding LLC and a unit of American Home filed an adversary suit on Monday in a Delaware bankruptcy court which seeks to hold BofA accountable for a shortfall in their sale of American Home loans.

American Home formed Broadhollow and Melville as special purposes entities which acquired mortgage loans from American Home...
To view the full article, register now.