IN RE RESCAP LIQUIDATING TRUST LITIGATION

Case No. 13-cv-3451 (SRN/HB).

428 F.Supp.3d 53 (2019)

IN RE: RESCAP LIQUIDATING TRUST LITIGATION. This document relates to: ResCap Liquidating Trust v. Primary Residential Mortgage, Inc., No. 16-cv-4070.

United States District Court, D. Minnesota.

Signed December 20, 2019.

Editors Note
Applicable Law: 28 U.S.C. § 1332
Cause: 28 U.S.C. § 1332 Diversity - Breach of Contract
Nature of Suit: 190 Contract: Other
Source: PACER


Attorney(s) appearing for the Case

Arthur J. Boylan, Special Master, pro se.

ResCap Liquidating Trust, Plaintiff, represented by Adam M. Abensohn , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Alexander J. Merton , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Alexandria Deep Conroy , Quinn Emanuel Urquhart and Sullivan, pro hac vice, Amroh Faisal Idris , Quinn Emanuel Urquhart & Sullivan, pro hac vice, Anthony Paul Alden , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Christina Wu , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Claire Disston Hausman , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Danielle L. Gilmore , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Danielle Marie Shrader-Frechette , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, David C. Armillei , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Dawn Utsumi , Quinn Emanuel Urquhart & Sullivan, pro hac vice, Deborah Kay Brown , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Diane L. Cafferata , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Donald G. Heeman , Spencer Fane, Duane R.A. Lyons , Quinn Emanuel Urquhart & Sullivan, pro hac vice, Elisabeth Bach Miller , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Eric H. Huang , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Gabriel F. Soledad , Quinn Emanuel Urquhart & Sullivan, pro hac vice, Geneva B. McDaniel , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Guyon H. Knight , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Harry A. Olivar, Jr. , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Heather K. Christenson , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Isaac Nesser , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Jacob J. Waldman , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Jeffrey Alan Lipps , Carpenter Lipps & Leland LLP, pro hac vice, Jeffrey Carl Miller , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Jeffrey J. Ung , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Jennifer Jackson Barrett , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Jennifer A.L. Battle , Carpenter Lipps & Leland LLP, pro hac vice, Jessica J. Nelson , Spencer Fane, Johanna Yao Ong , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, John Steven Gordon , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Jonathan Eser , Quinn, Emanuel, Urquhart & Sullivan LLP, Kanika G. Shah , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Kathleen Marie Sullivan , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Kenneth John Shaffer , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Kristen Bird , Quinn Emanuel Urquhart & Sullivan, pro hac vice, Lauren Weeman Misztal , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Matthew A. Lee , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Matthew R. Scheck , Quinn Emanuel Urquhart & Sullivan, pro hac vice, Michael N. Beekhuizen , Carpenter Lipps & Leland LLP, pro hac vice, Michael Jude Galvin, I , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Michael J. Madigan , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Molly Caroline Stephens , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Nicholas Aaron Leefer , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Nicole Y. Altman , Kamehameha Schools, pro hac vice, Noah S. Helpern , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Peter Evan Calamari, I , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Rachael L. McCracken , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Randa A.F. Osman , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Randi J. Winter , Spencer Fane, Richard Allen Schirtzer , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Richard I. Werder, Jr. , Quinn Emanuel, pro hac vice, Sarah J. Cole , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Sascha N. Rand , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Serafina Concannon , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Thomas D. Pease , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Tyler Whitmer , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Valerie Jon Ramos , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Viola Trebicka , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, William Charlie Price , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Zena Jacobsen , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Zoe P. Chernicoff , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Darren Mitchell Goldman , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, David Michael Grable , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Joshua S. Margolin , Selendy & Gay PLLC, pro hac vice, Kate E. Cassidy , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Linda J. Brewer , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice & Robert Jason Becher , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice.

Ark-La-Tex Financial Services, LLC, Defendant, represented by James M. Jorissen , Briggs and Morgan, P.A. & Mark J. Carpenter , Carpenter Law Firm PLLC.

First Mortgage Corporation, Defendant, represented by Michael J. Minenko , Minenko Law, LLC & Thomas Michael Sullivan, Jr. , Thomas M. Sullivan, Jr., pro hac vice.

E Trade Bank, as successor to United Medical Bank, FSB, Defendant, represented by Brandon P. Rose , Bilzin Sumberg Baena Price & Azelrod LLP, Peter McElligott , Anthony Ostlund Baer & Louwagie PA, Philip R. Stein , Bilzin Sumberg Baena Price & Axelrod LLP, Shalia M. Sakona , Bilzin Sumberg Baena Price & Axelrod LLP, pro hac vice & Sharda R. Enslin , City of Minneapolis - City Attorney's Office.

Impac Funding Corporation, Defendant, represented by Craig Andrew Barbarosh , Katten Muchin Rosenman LLP, pro hac vice, David A. Crichlow , Katten Muchin Rosenman LLP, pro hac vice, David J. Stagman , Katten Muchin Rosenman LLP, pro hac vice, Jenny Gassman-Pines , Greene Espel PLLP, Jerry L. Hall, Jr. , Katten Muchin Rosenman LLP, pro hac vice, Katherine M. Swenson , Greene Espel PLLP, Mark L. Johnson , Greene Espel PLLP, Sharon Robin Markowitz , Stinson LLP, Timothy P. Griffin , Stinson Leonard Street LLP, Todd A. Noteboom , Stinson LLP, W. Anders Folk , U.S. Attorney's Office & William Thomson , Stinson Leonard Street LLP.

Hometown Mortgage Services, Inc., Defendant, represented by Andrew Steinfeld , American Morgage Law Group, P.C., pro hac vice, Brooke D. Anthony , Anthony Ostlund Baer & Louwagie PA, Carol R.M. Moss , Hellmuth & Johnson PLLC, Edward Page Allinson , American Mortgage Law Group, P.C., pro hac vice, Evans D. Prieston , American Mortgage Law Group, P.C., pro hac vice, J. Robert Keena , Hellmuth & Johnson PLLC, Jack V. Valinoti , American Mortgage Law Group, P.C., pro hac vice & James W. Brody , American Mortgage Law Group, pro hac vice.

Terrace Mortgage Company, Defendant, represented by Aaron P.M. Tady , Coles Barton LLP, pro hac vice, C.J. Schoenwetter , Bowman & Brooke LLP, Gregory Michael Taube , Nelson Mullins Riley & Scarborough LLP, pro hac vice, John D. Sear , Bowman & Brooke LLP, Rachelle A. Velgersdyk , Bowman & Brooke LLP & Thomas M. Barton , Coles Barton LLP, pro hac vice.

Wells Fargo Bank, N.A., formerly known as Wachovia Mortgage Corporation, First Union National Bank, First Union Mortgage Corporation & Wells Fargo Financial Retail Credit, Inc., formerly known as Norwest Financial Acceptance, Inc., Defendants, represented by Amy L. Schwartz , Ballard Spahr LLP, Eric P. Tuttle , Munger, Tolles & Olson LLP, pro hac vice, Gregory D. Phillips , Munger, Tolles & Olson, LLP, pro hac vice, John M. Gildersleeve , Munger, Tolles & Olson LLP, pro hac vice, Kevin S. Allred , Munger, Tolles & Olson LLP, pro hac vice, Marc T.G. Dworsky , Munger, Tolles & Olson, LLP, pro hac vice, Maximillian L. Feldman , Minger, Tolles & Olson LLP, pro hac vice, Michael E. Soloff , Munger, Tolles & Olson LLP, pro hac vice, Nick R. Sidney , Munger, Tolles & Olson LLP, pro hac vice, Ray S. Seilie , Bird Marella, pro hac vice, Richard C. St. John , Munger Tolles & Olson, pro hac vice, Richard T. Thomson , Ballard Spahr LLP, Thomas Jacob , Wells Fargo Law Department, pro hac vice & Todd J. Rosen , Munger Tolles & Olson LLP, pro hac vice.

SouthTrust Mortgage Corporation & American Mortgage Network, LLC, formerly known as, Defendants, represented by Nick R. Sidney , Munger, Tolles & Olson LLP, pro hac vice.

Standard Pacific Mortgage, Inc., Defendant, represented by Adrian K. Felix , Bilzin Sumberg, pro hac vice, Andrew M. Luger , Jones Day, Desiree Fernandez , Bilzin Sumberg Baena Price & Axelrod LLP, pro hac vice, Enza G. Boderone , Bilzin Sumberg Baena Price & Axelrod LLP, pro hac vice, Jacob A. Vandelist , Jones Day, James J. Ward , Bilzin Sumberg Baena Price & Axelrod LLP, pro hac vice, Jennifer L. Junger , Greenberg Traurig, pro hac vice, Jenny Gassman-Pines , Greene Espel PLLP, Jerry Goldsmith , Bilzin Sumberg Baena Price & Axelrod LLP, pro hac vice, Kelly G. Laudon , Jones Day, Kenneth Duvall , Bilzin Sumberg Baena Price & Axelrod LLP, pro hac vice, Kristin K. Zinsmaster , Jones Day, Philip R. Stein , Bilzin Sumberg Baena Price & Axelrod LLP & Shalia M. Sakona , Bilzin Sumberg Baena Price & Axelrod LLP, pro hac vice.

iServe Residential Lending, LLC, Defendant, represented by Brandon Christopher Marx , Foley Gardere, pro hac vice & Peter L. Loh , Foley Gardere, pro hac vice.

CTX Mortgage Company, LLC, Defendant, represented by Adrian K. Felix , Bilzin Sumberg, pro hac vice, Andrew M. Luger , Jones Day, Brandon P. Rose , Bilzin Sumberg Baena Price & Azelrod LLP, Desiree Fernandez , Bilzin Sumberg Baena Price & Axelrod LLP, pro hac vice, Enza G. Boderone , Bilzin Sumberg Baena Price & Axelrod LLP, pro hac vice, Jacob A. Vandelist , Jones Day, James M. Jorissen , Briggs and Morgan, P.A., James J. Ward , Bilzin Sumberg Baena Price & Axelrod LLP, pro hac vice, Jerry Goldsmith , Bilzin Sumberg Baena Price & Axelrod LLP, pro hac vice, Kelly G. Laudon , Jones Day, Kenneth Duvall , Bilzin Sumberg Baena Price & Axelrod LLP, pro hac vice, Kristin K. Zinsmaster , Jones Day, Philip R. Stein , Bilzin Sumberg Baena Price & Axelrod LLP & Shalia M. Sakona , Bilzin Sumberg Baena Price & Axelrod LLP, pro hac vice.

Home Loan Center, Inc., Defendant, represented by Dane Hal Butswinkas , Williams & Connolly LLP, Daniel J. Millea , Zelle LLP, David S. Blatt , Williams & Connolly, LLP, pro hac vice, David Keith Clouser , Williams & Connolly LLP, pro hac vice, Elizabeth V. Kniffen , Zelle Hofmann Voelbel & Mason LLP, Eric A. Kuhl , Williams & Connolly LLP, pro hac vice, Jesse T. Smallwood , Williams & Connolly LLP, pro hac vice, Kannon K. Shanmugam , Paul, Weiss, Rifkind, Wharton & Garrison LLP, pro hac vice, Kyle E. Thomason , Williams & Connolly LLP, pro hac vice, Matthew Van Johnson , Williams & Connolly LLP, Matthew Brian Nicholson , Williams & Connolly LLP, pro hac vice, R. Hackney Wiegmann , Williams & Connolly LLP, pro hac vice & Rory D. Zamansky , Zelle LLP.

Freedom Mortgage Corporation, Defendant, represented by Adrian K. Felix , Bilzin Sumberg, pro hac vice, Desiree Fernandez , Bilzin Sumberg Baena Price & Axelrod LLP, pro hac vice, Enza G. Boderone , Bilzin Sumberg Baena Price & Axelrod LLP, pro hac vice, James J. Ward , Bilzin Sumberg Baena Price & Axelrod LLP, pro hac vice, Jennifer L. Junger , Greenberg Traurig, pro hac vice, Jenny Gassman-Pines , Greene Espel PLLP, Jerry Goldsmith , Bilzin Sumberg Baena Price & Axelrod LLP, pro hac vice, Katherine M. Swenson , Greene Espel PLLP, Kenneth Duvall , Bilzin Sumberg Baena Price & Axelrod LLP, pro hac vice, Michael E. Strauch , Greenberg Traurig, P.A, pro hac vice, Philip R. Stein , Bilzin Sumberg Baena Price & Axelrod LLP & Shalia M. Sakona , Bilzin Sumberg Baena Price & Axelrod LLP, pro hac vice.

InterLinc Mortgage Services, LLC, Defendant, represented by Daniel J. Supalla , Briggs & Morgan, PA, Jason R. Asmus , Briggs & Morgan, PA & Mark G. Schroeder , Briggs & Morgan, PA.

Douglas Rohm & Edward Danielczyk, Defendants, represented by Brooke D. Anthony , Anthony Ostlund Baer & Louwagie PA & Steven M. Pincus , Anthony Ostlund Baer & Louwagie PA.

Primary Residential Mortgage, Inc., Defendant, represented by Daniel J. Millea , Zelle LLP, Darryl Joseph Lee , Primary Residential Mortgage, Inc., pro hac vice, Elizabeth V. Kniffen , Zelle Hofmann Voelbel & Mason LLP, Jesse T. Smallwood , Williams & Connolly LLP, pro hac vice & Matthew Van Johnson , Williams & Connolly LLP.

ResCap Liquidating Trust, Counter Defendant, represented by Deborah Kay Brown , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Jessica J. Nelson , Spencer Fane, Kenneth John Shaffer , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Lauren Weeman Misztal , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Randi J. Winter , Spencer Fane, Sascha N. Rand , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Anthony Paul Alden , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Christina Wu , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Donald G. Heeman , Spencer Fane, Duane R.A. Lyons , Quinn Emanuel Urquhart & Sullivan, pro hac vice, Gabriel F. Soledad , Quinn Emanuel Urquhart & Sullivan, Isaac Nesser , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Jeffrey Alan Lipps , Carpenter Lipps & Leland LLP, pro hac vice, Jennifer A.L. Battle , Carpenter Lipps & Leland LLP, pro hac vice, Johanna Yao Ong , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Matthew R. Scheck , Quinn Emanuel Urquhart & Sullivan, Molly Caroline Stephens , Quinn Emanuel Urquhart & Sullivan, LLP, pro hac vice, Peter Evan Calamari, I , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Sarah J. Cole , Quinn Emanuel Urquhart & Sullivan LLP, pro hac vice, Danielle L. Gilmore , Quinn Emanuel Urquhart & Sullivan LLP, Rachael L. McCracken , Quinn Emanuel Urquhart & Sullivan, LLP & Zena Jacobsen , Quinn Emanuel Urquhart & Sullivan, LLP.


MEMORANDUM OPINION AND ORDER ON MOTIONS FOR SUMMARY JUDGMENT

TABLE OF CONTENTS

I. INTRODUCTION...62

II. BACKGROUND...62

A. Contractual Relationships...63

1. General Rules of Interpretation...

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