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Home » Store » Taxable » ‘Bailee’ Letter Protection in Loan Sale Deals at Risk, Says Lawyer

‘Bailee’ Letter Protection in Loan Sale Deals at Risk, Says Lawyer

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An attorney for a warehouse lender has vowed to take his client’s case all the way to the U.S. Supreme Court if necessary, to preserve the sanctity of “bailee” letters in secondary mortgage market transactions. Maurice Mitts, a principal with the Philadelphia law firm Frey, Petrakis, Deeb, Blum, Briggs & Mitts, is seeking a rehearing after the Pennsylvania Supreme Court nullified a $337 million judgment against a national bank accused of refusing to turn over…
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