Mr Cooper Group Inc fka COOP

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Dmdmd Here's a little more, not complete
http://www.rplaw.com/rp-partner-michael-rollin-quoted-in-law360-article-titled-wells-fargo-cant-shake-suit-over-conflict-as-rmbs-trustee/aw360, New York

RP Partner Michael Rollin Quoted in Law360 Article Titled Wells Fargo Can’t Shake Suit Over Conflict As RMBS Trustee


May 16, 2013

Law360, New York (May 16, 2013, 6:03 PM ET) — A Colorado federal judge on Wednesday allowed most claims to continue in a hedge fund’s lawsuit alleging that Wells Fargo NA breached its responsibilities as both a trustee and a servicer for certain residential mortgage-backed securities, costing the fund millions of dollars in losses.

U.S. Magistrate Judge Boyd N. Boland found Galena Street Fund LP had sufficiently alleged that when Wells Fargo took over from Washington Mutual NA as trustee for the MBS as well as servicer for many of the underlying mortgages, it failed to correct many of the mistakes WaMu had made, in part because of an inherent conflict between the two roles.

“Galena has sufficiently alleged that Wells Fargo labored under a conflict of interest when it purchased WaMu’s servicing portfolio and then functioned as both trustee for the trusts and servicer for many of the loans in the trusts,” Judge Boland said.

Michael Rollin, a Reilly Pozner LLP partner representing Galena, said the ruling was a boon for investors who rely on trustees of MBS to look out for their interests.

“I think this ruling is a good step forward,” he said.

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