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Rose has been claiming that he has special rights to direct American Mortgage Home Servicing as to how it can modify loans and sell off foreclosed homes. Carrington’s motive was spelled out in an investigative feature story at HousingWire last May, which basically said the fund was trying to siphon off cash flow from the senior bond holders.
AHMSI says it doesn’t have to do what Rose says, because its job as a mortgage servicer is to work in the best interest of all the parties in the mortgage bond capital structure. And yesterday the judge agreed, ruling that Carrington’s rights are not special and the trial must continue so he can see evidence from both sides.
Read more here from CT News
