MBIA cannot bring claims for negligent misrepresentation or breach of good faith and fair dealing in a lawsuit against defunct mortgage lender Countrywide Financial, which it accuses of misrepresenting the safety of mortgage-backed securities that MBIA insured.

In MBIA v. Countrywide Home Loans, 602825/08, an Appellate Division, First Department, panel unanimously affirmed yesterday a lower court’s dismissal of a count of negligent misrepresentation while dismissing a claim for breach of good faith and fair dealing that the lower court had allowed to stand. The panel also affirmed the lower court’s decision not to dismiss a claim for fraud, now the only claim left in the suit.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]