2nd Circ. Affirms Dismissal Of US Bank's Untimely RMBS Suit

By Rachel Graf (February 6, 2019, 5:56 PM EST) -- The Second Circuit on Wednesday affirmed the dismissal of U.S. Bank National Association's allegations that GreenPoint Mortgage Funding Inc. misrepresented the quality of residential mortgage-backed securities it sold, saying the allegations were brought too late.

U.S. Bank's allegations against GreenPoint Mortgage Funding were untimely under New York's six-year statute of limitations for breach of contract claims, the Second Circuit said Wednesday. (AP)

A three-judge panel said the filings forming the basis of the complaint were brought after New York's six-year statute of limitations for breach of contract claims had expired.

Federal Housing Finance Agency, acting on behalf of U.S. Bank, brought...

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