Equifirst, Barclays Win Dismissal Of RMBS Suit

By Martin O'Sullivan (July 25, 2016, 4:10 PM EDT) -- A New York state judge has tossed a suit alleging that Barclays Bank PLC and a defunct unit lied about the quality of the loans made up of $619 million in residential mortgage-backed securities, saying the claims were filed too late.

New York Supreme Court Judge Marcy Friedman said U.S. Bank National Association, as trustee for a pool of $619 million in residential mortgage-backed securities, waited too long to pursue claims that Barclays and Equifirst Corp. misrepresented the quality of the underlying loans. The Federal Housing Finance Agency, as conservator, issued a summons on the six-year anniversary of the sale of...

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