NY Appeals Court Won't Cut BofA Faulty Underwriting Claims

Law360, New York (May 23, 2013, 3:44 PM EDT) -- A New York state appeals court refused Wednesday to dismiss claims against several Bank of America Corp. units in a putative class action over allegedly loose mortgage underwriting standards, saying the plaintiff had sufficiently alleged she had signed a release of claims under duress.

According to the Appellate Division of New York Supreme Court, Nassau County Supreme Court Judge Antonio I. Brandveen correctly ruled that plaintiff Patricia Warmhold had properly alleged that BofA had only secured a release of claims, written into a loan modification agreement,...
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