CIFG, Syncora Lose Appeal Of $1.8B MBS Suit In NY Court

Law360, New York (April 25, 2013, 6:32 PM ET) -- A New York appeals court refused Thursday to give CIFG Assurance North America Inc. and Syncora Guarantee Inc. another go in a mortgage-backed securities suit over $1.8 billion in loans issued by GreenPoint Mortgage Funding Inc., upholding a ruling that their claims were blocked by an earlier order. 

The ruling bars the monoline insurers' claims that GreenPoint breached representations and warranties made in sales agreements for loans that served as collateral in a $1.8 billion securitization transaction.

The two insurers were first kicked out of the...
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