SYNCORA GUARANTEE INC. v. EMC MORTG. CORP.

No. 09 Civ. 3106 (PAC).

874 F.Supp.2d 328 (2012)

SYNCORA GUARANTEE INC., f/k/a XL Capital Assurance Inc., Plaintiff, v. EMC MORTGAGE CORPORATION, Defendant.

United States District Court, S.D. New York.

June 19, 2012.


Attorney(s) appearing for the Case

Benjamin Stephan Litman, David Wayne Dykhouse, Erik Haas, Jason Robert Vitullo, Lia Marie Brooks, Matthew Jason Shepherd, Muhammad Usman Faridi, Philip Russell Forlenza, Alyssa L. Vickers, Anthony Christopher DeCinque, Melissa Rae Ginsberg, Patterson, Belknap, Webb & Tyler LLP, Edmund M. O'Toole, Heather Lynn Maly, William Hastings Devaney, Venable LLP, New York, NY, for Plaintiff.

John Morgan Callagy, Alison Leigh MacGregor, Anastasia Angelova Angelova, Nicholas John Panarella, William Alfred Escobar, Kelley Drye & Warren, LLP, Darrell Scott Cafasso, David Allen Castleman, Sharon L. Nelles, Steven Lyon Holley, Sullivan & Cromwell, LLP, Caroline Jean Heller, David Jay Stone, Eric Nevins Whitney, Richard Aframe Edlin, Seth Michael Kruglak, Toby S. Soli, Greenberg Traurig, LLP, New York, NY Marc D. McPeak, Greenberg Traurig, LLP, Dallas, TX, Robert Andrew Sacks, Sullivan & Cromwell LLP, Los Angeles, CA, for Defendant.


OPINION & ORDER

PAUL A. CROTTY, District Judge:

Syncora Guarantee Inc. ("Syncora") alleges that EMC Mortgage Corporation ("EMC") breached its representations and warranties made to induce insurance provided by Syncora for a securitization transaction (the "Transaction") involving 9,871 Home Equity Line of Credit ("HELOC") residential mortgage loans. EMC aggregated these mortgage loans and sold them

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