Calyon N.Y. Branch v. American Home Mortg. Corp. (In re American Home Mortg. Inc.)

Ruling: 
Portion of repurchase agreement providing for servicing of loans was severable from sale and repurchase portion of agreement and not subject to safe harbor provisions.
Procedural posture: 
Plaintiffs, security issuing banks and purchasers of mortgages, brought adversary claims against debtors, a mortgage company and its affiliates primarily entailed the origination, servicing, and sale of mortgage loans, investment in mortgage loans and mortgage-backed securities, asserting that the contract with the debtors constituted a repurchase (repo) agreement involving mortgage loans within the meaning of 11 U.S.C. §§ 555 and 559.
Issue: 
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Commercial case opionion summary, case decided on January 04,2008, LexisNexis #0108-122