MATTER OF PART 60 PUT-BACK LITIGATION v. MORGAN STANLEY ABS CAPITAL I INC.

Docket No. 601045/06, Index No. 113141/05.

146 A.D.3d 566 (2017)

2017 NY Slip Op 00269

45 N.Y.S.3d 418

In the Matter of PART 60 PUT-BACK LITIGATION. FEDERAL HOUSING FINANCE AGENCY, Plaintiff, and DEUTSCHE BANK NATIONAL TRUST COMPANY, in its Capacity as Trustee for the MSAC 2007-NC1 TRUST, Appellant, v. MORGAN STANLEY ABS CAPITAL I INC., Respondent. In the Matter of PART 60 PUT-BACK LITIGATION. FEDERAL HOUSING FINANCE AGENCY, Plaintiff, and DEUTSCHE BANK NATIONAL TRUST COMPANY, in its Capacity as Trustee for the MSAC 2007-NC3 TRUST, Appellant, v. MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC, as Successor-by-Merger to MORGAN STANLEY MORTGAGE CAPITAL INC., Respondent.

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

Decided January 17, 2017.


Orders, entered April 20, 2016, which, insofar as appealed from, granted defendant's motions to dismiss, unanimously affirmed, with costs.

The NC3 Trust

The tolling agreement between nonparty National Credit Union Administration (NCUA) — a certificate holder in the NC3 Trust — and various Morgan Stanley entities — the sponsor of the securitization — states, "the Potential...

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