NEW YORK CITY-Delaware court has dismissed Central Mortgage Co.'s claims that Morgan Stanley Mortgage Capital Holdings should be held responsible for faulty mortgage loans.
As part of a previous agreement, Morgan Stanley had repaid CMC for around half of the bad mortgage loans sold by CMC to Freddie Mac and Fannie Mae, since the mortgage giants had demanded compensation for the faulty mortgage loans. However, CMC claimed that Morgan Stanley was contractually obligated to repay the entire amount.For the full story, go to NY Times.
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