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BNP Paribas, Bank Of America Settle 2009 MBS Suit

Law360, New York (April 2, 2015, 4:54 PM EDT) -- BNP Paribas Mortgage Corp. and Bank of America NA have settled a lawsuit over BofA’s handling of hundreds of millions of dollars in mortgage-backed notes, according to a New York federal court filing signed Tuesday.

The lawsuit, which was initially brought in 2009, appeared just last month to be heading toward summary judgment, but the parties filed a joint stipulation of dismissal with prejudice on Wednesday asking the judge to toss the suit. The filing provided no details on the terms of any agreed-upon settlement and...
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