Mortgage Insurer Fights Countrywide Arbitration Bid

Law360, New York (March 29, 2011, 6:41 PM EDT) -- An attorney for Republic Mortgage Insurance Co. told a New York state appeals court Tuesday that the insurer shouldn't have to arbitrate its dispute with Bank of America Corp.'s Countrywide and Bank of New York Mellon Trust Co. NA.

The phrase "which it initiates" in the arbitration clause of the parties' insurance agreements limits Countrywide to arbitrating only disagreements that it brings, not those that Republic brings, Republic's attorney, James Rubin of Butler Rubin Saltarelli & Boyd LLP, told a five-judge panel of the Appellate Division...
To view the full article, register now.