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US BANK NA v. GREENPOINT MTGE

600352/09.

157 A.D.3d 93 (2017)

67 N.Y.S.3d 206

2017 NY Slip Op 08644

U.S. BANK NATIONAL ASSOCIATION, as Indenture Trustee for the Benefit of the Insurers and Noteholders of GREENPOINT MORTGAGE FUNDING TRUST 2006-HE1, HOME EQUITY LOAN ASSET-BACKED NOTES, SERIES 2006-HE1, Respondent, v. GREENPOINT MORTGAGE FUNDING, INC., Appellant. SYNCORA GUARANTEE INC., Formerly Known as XL CAPITAL ASSURANCE INC., as Controlling Insurer, Note Controlling Party and Class Ax Insurer, Nonparty Respondent.

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

Decided December 12, 2017.

Attorney(s) appearing for the Case

Murphy & McGonigle, P.C., New York City ( James A. Murphy of counsel), for appellant.

Allegaert Berger & Vogel LLP, New York City ( Michael S. Vogel , David A. Berger , Kevin L. MacMillan , John S. Craig and Lauren J. Pincus of counsel), and Quinn Emanuel Urquhart & Sullivan, LLP, New York City ( Philippe Z. Selendy , Andrew R. Dunlap , Sean P. Baldwin and Yalena Konanova of counsel), for U.S. Bank National Association, respondent.

Allegaert Berger & Vogel LLP, New York City ( Michael S. Vogel , David A. Berger , John S. Craig and Lauren J. Pincus of counsel), for Syncora Guarantee Inc., respondent.

FRIEDMAN, J.P., GISCHE and KAHN, JJ., concur.

OPINION OF THE COURT

In this appeal, we are asked to decide whether plaintiff U.S. Bank National Association may pursue its claims for breach of contract against defendant (GreenPoint). We find that although the relevant contracts are unambiguous, the record presents an issue of fact as to whether U.S. Bank has standing to...

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