NOMURA INC. v. NOMURA CREDIT

650337/13, 652614/12, 651124/13, 653783/12

133 A.D.3d 96 (2015)

19 N.Y.S.3d 1

2015 NY Slip Op 07458

NOMURA HOME EQUITY LOAN, INC., SERIES 2006-FM2, by HSBC Bank USA, National Association, Solely in its Capacity as Trustee, Respondent-Appellant, v. NOMURA CREDIT & CAPITAL, INC., Appellant-Respondent. NOMURA HOME EQUITY LOAN, INC., SERIES 2007-3, by HSBC Bank USA, National Association, Solely in its Capacity as Trustee, Respondent-Appellant, v. NOMURA CREDIT & CAPITAL, INC., Appellant-Respondent. NOMURA ASSET ACCEPTANCE CORPORATION MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2006-AF 2, by HSBC Bank USA, National Association, as Trustee, Appellant-Respondent, v. NOMURA CREDIT & CAPITAL, INC., Respondent-Appellant. NOMURA HOME EQUITY LOAN, INC., HOME EQUITY LOAN TRUST, SERIES 2007-2 by HSBC Bank USA, National Association, as Trustee, Appellant-Respondent, v. NOMURA CREDIT & CAPITAL, INC., Respondent-Appellant.

Appellate Division of the Supreme Court of New York, First Department.

Decided October 13, 2015.


Attorney(s) appearing for the Case

Shearman & Sterling LLP, New York City ( Agnès Dunogué and Joseph J. Frank of counsel), for Nomura Credit & Capital, Inc., appellant-respondent/respondent-appellant.

Holwell Shuster & Goldberg LLP, New York City ( Michael S. Shuster , Dwight A. Healy and Daniel M. Sullivan of counsel), for Nomura Asset Acceptance Corporation Mortgage Pass-Through Certificates, Series 2006-AF2, by HSBC Bank USA, National Association, as Trustee and Another, appellants-respondents.

Kasowitz, Benson, Torres & Friedman LLP, New York City ( Christopher P. Johnson , Zachary W. Mazin and Jenny H. Kim of counsel), for Nomura Home Equity Loan, Inc., Series 2006-FM2, by HSBC Bank USA, National Association, Solely in its Capacity as Trustee, and Another, respondents-appellants.

MAZZARELLI, J.P., ACOSTA and KAPNICK, JJ., concur.


OPINION OF THE COURT

These appeals stem from the securitization of residential mortgage-backed securities (RMBS) by Nomura Credit & Capital, Inc., the defendant in each case. The allegations and arguments advanced in the parties' briefs are, with certain exceptions, materially...

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