Nationstar's Suit Over $150M Loan Auction Deal Tossed

Law360, Los Angeles (October 30, 2013, 6:24 PM EDT) -- A California federal judge on Wednesday tossed Nationstar Mortgage LLC's lawsuit seeking to block Truman Capital Advisors LP from recovering any damages from a scrapped auction of $150 million in residential loan pools backing certain securities, deeming the suit an example of forum shopping.

U.S. District Judge Josephine L. Staton granted TCA's motion to dismiss Nationstar's suit, saying the action was a reactionary move designed to give Nationstar the upper hand in its dispute with TCA. Nationstar filed its complaint for declaratory relief just days before TCA hit the mortgage servicer with a suit in...
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