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U.S. BANK NATIONAL ASSOCIATION v. DLJ MORTGAGE CAPITAL, INC.

651174/13, 1466, 654157/12, 1465.

140 A.D.3d 518 (2016)

34 N.Y.S.3d 428

2016 NY Slip Op 04795

U.S. BANK NATIONAL ASSOCIATION, Solely in its Capacity as Trustee of the HOME EQUITY ASSET TRUST 2007-2 (HEAT 2007-2), Appellant, v. DLJ MORTGAGE CAPITAL, INC., Respondent. U.S. BANK NATIONAL ASSOCIATION, Solely in its Capacity as Trustee of the HOME EQUITY ASSET TRUST 2006-8 (HEAT 2006-8), Appellant, v. DLJ MORTGAGE CAPITAL, INC., Respondent.

Appellate Division of the Supreme Court of New York, First Department.

Decided June 16, 2016.

These actions arise from alleged breaches of Pooling and Servicing Agreements (PSAs), dated November 1, 2006 (HEAT 2006-8) and March 1, 2007 (HEAT 2007-2), governing trusts containing securitized residential backed mortgage loans transferred to them by defendant. The PSAs contain various representations and warranties by defendant regarding the quality and characteristics of the loans, and provide that, upon discovery of a material...

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