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On November 20, CIFG sued Bank of America in Supreme Court for the State of New York concerning five financial guaranty policies issued in connection with two structured transactions backed by 22 RMBS
On June 30, 2011, a New York appellate court affirmed the denial of Countrywide Home Loans, Inc.'s and certain of its affiliates' ("Countrywide") motion to dismiss MBIA, Inc's ("MBIA") claim that it had been fraudulently induced to insure 15 Countrywide RMBS securitizations
