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Investors Blast BNY Mellon Bid To Sever Claims In RMBS Suit

Law360, New York (December 7, 2017, 4:06 PM EST) -- Investors suing the Bank of New York Mellon over its alleged failures as trustee for a slew of residential mortgage-backed securities trusts have told a New York federal judge that it’s not necessary to split off their claims related to one particular trust for which the bank acted not as trustee but as master servicer.

The bank moved last month to sever investor claims relating to FNLC 2005-1, one of the 18 trusts that remain at issue in the case, arguing that those claims raise “wholly...
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