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Bank of America lost a bid May 29 to shake claims brought by the trustee for a $1.75 billion mortgage-backed securities deal, although Manhattan Supreme Court Justice Eileen Bransten (See Profile), in U.S. Bank v. Countrywide Home Loans, 652388/2011, narrowed the case to just a fraction of the loans at issue. She ruled that MBS trustee U.S. Bank National Association can’t try to force BofA to repurchase all 4,484 loans underlying the securities, since the terms of the securitization deal don’t allow for such a "pool-wide" breach of contract claim. Bransten refused, however, to dismiss a separate breach of contract claim related to 495 allegedly faulty loans that BofA unit Countrywide Financial already refused to buy back.

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