STORY FROM: Reinsurance & Arbitration

Ill. Federal Judge Dismisses Receiver’s Lawsuit Against Mortgage Reinsurer, Bank

CHICAGO — An Illinois federal judge has dismissed a lawsuit filed by the receiver of two insolvent private mortgage insurers against a reinsurer and a bank, finding the complaint fails to allege that the defendants violated the Real Estate Settlement Practices Act.

On June 1, Judge Harry D. Leinenweber of the U.S. District Court for the Eastern District of Illinois further found the RESPA claims are time-barred, and that the remaining claims should be dismissed for failure to state a claim.

Homebuyers who pay less than 20 percent of the purchase price as a down payment are required to obtain ...

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Goodwin & Procter
Mayer Brown
Weiner Brodsky Kider

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