US Bank Hits Citigroup With $157M Suit Over Bad Mortgages

Law360, Los Angeles (November 01, 2013, 8:23 PM ET) -- U.S. Bank National Association, as trustee, hit Citigroup Global Markets Realty Corp. with a lawsuit in New York state court on Thursday, seeking at least $157 million for Citigroup’s alleged failure to live up to contractual obligations related to purchases of residential mortgage-backed securities.

U.S. Bank seeks redress from Citigroup for what it calls fundamental breaches and repudiation of, and refusal to perform, contractual obligations under a Mortgage Loan Purchase Agreement dated May 16, 2007, between Citigroup Mortgage Loan Trust Inc. as purchaser and Citigroup Global...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required