November 7, 2019 / 12:11 AM / 12 days ago

CitiMortgage can’t demand loan originator repurchase foreclosed mortgages – 8th Circuit

Citigroup subsidiary CitiMortgage Inc cannot force a mortgage-loan originator to repurchase defective loans that have already gone through foreclosure because it has not shown that those loans still exist, a divided federal appeals court held on Wednesday.

The 8th U.S. Circuit Court of Appeals split 2-1 in affirming a ruling by a magistrate judge in St. Louis, Missouri, who found that CitiMortgage had not established a breach of contract by Equity Bank as to the six foreclosed-upon loans.

To read the full story on Westlaw Practitioner Insights, click here:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below