MBIA Insurance v. Countrywide

Summary

NOTE: Under New York state law, portions of the hearing where deposition testimony is read or replayed on video will not be recorded or broadcast.

In this real estate litigation motion hearing, plaintiff MBIA Insurance alleged Bank of America of being liable for Countrywide’s flawed underwriting as Bank of America had acquired Countrywide. MBIA’s counsels argued that the Bond Insurer should be reimbursed for claims it paid on securitized pools of home equity lines of credit because of Countrywide’s flawed underwriting.

The plaintiff was represented by attorneys Philippe Selendy, Peter Calamari and Jonathan Oblak. The defendant in this case, Bank of America was represented by attorneys Johnathan Rosenberg, Walter Dellinger and Daniel Cantor.