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NOMURA ASSET ACCEPTANCE CORPORATION ALTERNATIVE LOAN TRUST, SERIES 2006-S3 v. NOMURA CREDIT & CAPITAL, INC.

652619/12. 653390/12. 7292. 7291. 7290.

167 A.D.3d 432 (2018)

91 N.Y.S.3d 3

2018 NY Slip Op 08347

Nomura Asset Acceptance Corporation Alternative Loan Trust, Series 2006-S3, by HSBC Bank USA, National Association, as Trustee, Respondent-Appellant, v. Nomura Credit & Capital, Inc., Appellant-Respondent. Nomura Asset Acceptance Corporation Alternative Loan Trust, Series 2006-S4, by HSBC Bank USA, National Association, as Trustee, Respondent-Appellant, v. Nomura Credit & Capital, Inc., Appellant-Respondent.

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

Decided December 6, 2018.

While the court correctly sustained claims alleging breaches of the representations that the combined loan-to-value ratio (CLTV ratio) for each mortgage loan did not exceed 100%, and that none of the loans included in the trusts were classified as high-cost, it erred in dismissing the claims alleging breaches of representations regarding interest-only balloon loans and loans that were delinquent at the time the transaction closed, that plaintiff argues must be read to prohibit...

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