NY Judge Tosses Most Claims In Morgan Stanley HAMP Suit

Law360, New York (September 18, 2012, 8:34 PM EDT) -- A New York federal judge on Monday largely dismissed a putative class action alleging that a Morgan Stanley subsidiary misled them about mortgage modification agreements, finding that a federal mortgage relief plan does not guarantee that homeowners will have the terms of their loans altered.

In her ruling, U.S. District Judge Joanna Seybert in Central Islip, N.Y., found that Saxom Mortgage Services Inc. was not required to offer a permanent loan modification under the federal Home Affordable Modification Plan despite confusing language in “poorly drafted” documents...
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