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American Home Units Sue BofA For $25M

Law360 (October 23, 2007, 12:00 AM EDT) -- Three affiliates of bankrupt American Home Mortgage Holdings Inc. have accused Bank of America NA of reneging on swap agreements in which they are entitled to more than $25 million.

Broadhollow Funding LLC, Melville Funding LLC and a unit of American Home filed an adversary suit on Monday in a Delaware bankruptcy court which seeks to hold BofA accountable for a shortfall in their sale of American Home loans.

American Home formed Broadhollow and Melville as special purposes entities which acquired mortgage loans from American Home...
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