Case Study: Walsh Securities V. Cristo Property Mgmt.
August 28, 2012, 1:05 PM EDT
Law360, New York (August 28, 2012, 1:05 PM EDT) -- In Walsh Securities Inc. v. Cristo Property Management Ltd., et al., Civil Action No. 97-3496 (D.N.J. July 24, 2012), Magistrate Judge Michael A. Shipp of the District of New Jersey denied a wholesale residential mortgage lender’s efforts to compel a trio of title insurers to disclose the loss reserve amounts they had set for the lender’s claims.
Walsh Securities arose in 1997 after the lender purchased 220 mortgage loans from National Home Funding and sold them to whole loan purchasers. The lender brought a $450 million...