New York

Banks’ Appetite for Jumbos May Soften Blow of New Loan Limits

(Source: Bloomberg by Prashant Gopal and Jody Shenn) Jon and Jenny Clyman are eager to buy a new home near better schools in New York’s Westchester County before Oct. 1, when new limits on government-backed mortgages could force them into [...]


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Panel Revives Banks’ Suit Against MBIA Over 2009 Breakup

(Source: New York Law Journal by Brendan Pierson) A $5 billion fraud suit against bond insurer MBIA over its 2009 breakup is not preempted by New York’s Insurance Law, the Court of Appeals ruled yesterday. In allowing the case to [...]


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Judge: Insurer Not Responsible For Covering Bank’s Losses From Ponzi Scheme

May 19 (Source: The Hartford Courant, Connecticut By Edmund H. Mahony) – A Travelers subsidiary does not have to cover the losses of a Westport bank whose customers claim that the bank’s investment in Bernard L. Madoff’s Ponzi scheme cost [...]


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