Judge dismisses NCUA suit against US Bank, BoA as RMBS trustees

first_imgA U.S. District judge Monday dismissed three lawsuits–including one by the National Credit Union Administration–brought against U.S. Bank National Association and Bank of America, National Association regarding their duties as trustees of residential mortgage-backed securities (RMBS).NCUA filed the lawsuit in December alleging the two banks failed to fulfill their duties as trustees for 99 of the trusts. Despite knowing about defects in the mortgage loans, the complaint said, U.S. Bank and Bank of America failed to provide required notices to certificate holders and other parties and failed to take timely action to force the repurchase, substitution or cure of defective mortgage loans or otherwise preserve trust remedies (News Now Dec. 18).U.S. District Judge Katherine Forrest ruled the NCUA lacked standing to sue U.S. Bank and Bank of America over 74 of the trusts that the agency moved into new, independent trusts (Bloomberg May 19).Nothing in federal securities law “authorizes NCUA (or the [corporate credit union] for which it acts as liquidating agent) to sue on behalf of separate statutory trusts,” Forrest ruled, according to court documents. continue reading » 2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

This home has been built with outdoor entertainment in mind

first_img21 Kenny Street, Fig Tree Pocket.The four-bedroom, two-bathroom property at 21 Kenny St, Fig Tree Pocket, is being sold by Room Property Agents — Kenmore’s Lucas Chisari for offers over $815,000.Features of the home include a covered patio with an outdoor kitchen alongside the pool. 21 Kenny Street, Fig Tree Pocket. 21 Kenny Street, Fig Tree Pocket.Mr Chisari said: “Located adjacent to Biambi Yumba Park this family home has several room configurations and all the essentials modern families need without a large lawn that needs mowing”. 21 Kenny Street, Fig Tree Pocket.Built with outdoor entertainment in mind, this low maintenance Brisbane home is worth a look inside. FREE: Get the latest real estate news direct to your inbox here. center_img 21 Kenny Street, Fig Tree Pocket.More from newsDigital inspection tool proves a property boon for REA website3 Apr 2020The Camira homestead where kids roamed free28 May 2019 21 Kenny Street, Fig Tree Pocket.Other features within the home include an euro inspired open-plan kitchen with bi-folds and views of the pool.Currently tenanted until July 2017, the home is air-conditioned and has polished timber floors.last_img read more