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Insurer prevails on fraud claim in mortgage securitization action against Countrywide

  • Chadbourne & Parke LLP
  • -
  • USA
  • -
  • March 1 2012

A New York trial court recently granted partial summary judgment in favor of MBIA Insurance Corporation (“MBIA”) on fraud and breach of warranty claims it had brought against Countrywide Home Loans, Inc. and various affiliates (collectively, “Countrywide”) concerning certain financial guaranty insurance policies that MBIA had issued in connection with residential mortgage-backed securitizations originated by Countrywide