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Home » Store » News » Ruling Creates Doubt for Servicer Safe Harbor

Ruling Creates Doubt for Servicer Safe Harbor

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A New York federal court has remanded to state court a class action filed by mortgage-backed securities investors against Countrywide Financial Corp., but left open the question of whether federal safe harbor provisions immunize servicers from investor lawsuits. In an Aug. 14 ruling, the U.S. District Court for the Southern District of New York held that a breach-of-contract...
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