Ambac's (AMBC) AAC Issues Statement Regarding RMBS Litigation

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Go back to Ambac's (AMBC) AAC Issues Statement Regarding RMBS Litigation

AAC Releases Statement Regarding RMBS Litigation

March 18, 2022 8:57 AM EDT

NEW YORK--(BUSINESS WIRE)-- Ambac Financial Group, Inc. (NYSE: AMBC) ("Ambac" or "AFG"), a financial services holding company, announces that its legacy financial guaranty insurance subsidiary Ambac Assurance Corporation (AAC), released the following statement:

On March 17, 2022, the New York Court of Appeals issued a decision in the case entitled U.S. Bank National Association v. DLJ Mortgage Capital, Inc. relating to Home Equity Asset Trust 2007-1, a residential mortgage-backed securities trust (HEAT). While AAC does not insure the HEAT securities and is not a party to the HEAT litigation, the decision is... More