(archive)
10-23-2007
Jeffrey Bragalone, ORIX's attorney in the PMAC/MLMI case, cant distinguish litigation expenses between trusts.
For a servicer who insures the Single Purpose Entity status of borrowers, and accuses borrowers of Single Business Enterprise, ORIX cant distinguish the litigation expenses for the same lawsuit between two REMIC trusts?! |
Hey ORIX, how much from the $9M PMAC settlement made it to the trust? What? Nothing?
Now, who paid the litigation expenses? Huh? The PMAC trust?
Another REMIC trust gets screwed "on behalf of itself" by ORIX..
