For years lawyers have been taking clients’ money to argue that the trusts were void because the banks did not comply with the terms of the pooling and servicing agreement. We have always told potential clients to save their money because this was a losing argument because homeowners do not have standing to enforce the pooling and servicing agreements. The Second Circuit has now definitively decided the issue against homeowners in Rajamin v. Deutsche Bank Nat'l Trust Co.
SEE DECISION BELOW
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