In Case of First Impression, First Department Holds RMBS Trustee Has Standing to Enforce Putback Rights

In Natixis Real Estate Capital Trust 2007-HE2 v Natixis Real Estate Holdings, LLC, the First Department holds, in a case of first impression in NY, that the Securities Administrator of a residential mortgage backed securities (RMBS) trust has standing to bring an action to enforce putback rights, in addition to the standing normally granted to the RMBS’s Trustee.

The First Department’s decision can be found here.

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