Manhattan Supreme Court Justice Charles Ramos said that Assured's recovery is limited to EMC's obligation to repurchase the underlying mortgage loans, which EMC allegedly downplayed the risks of, under the insurance agreement.
April 12, 2013 at 12:00 AM
1 minute read
A commercial judge has dismissed several claims in a lawsuit filed by Assured Guaranty Corp. against former Bear Stearns unit EMC Mortgage for allegedly downplaying the risks of mortgage loans insured by Assured Guaranty.
Manhattan Supreme Court Justice Charles Ramos (See Profile) found that Assured Guaranty’s recovery is limited to EMC’s obligation to repurchase the underlying mortgage loans under the insurance agreement.
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