Ruling Favors Insurers in MBS Litigation

Southern District Judge Jed Rakoff last week ordered Flagstar Bancorp Inc. to pay monoline bond insurer Assured Guaranty Municipal Corp. $90.1 million plus attorney fees following a bench trial in a lawsuit accusing Flagstar of misrepresenting the risks associated with mortgage-backed securities.

This article requires premium access

This article requires premium access to The New York Law Journal. Please sign in or subscribe to read the full text.