• "Safe Harbor" Provisions of a Repurchase Agreement Apply to Portions of the Agreement Transferring Mortgage Loans, But Not Servicing Portions
  • April 4, 2008 | Authors: Victoria W. Counihan; Sandra G. M. Selzer
  • Law Firm: Greenberg Traurig, LLP - Wilmington Office
  • In a case of first impression, the United States Bankruptcy Court for the District of Delaware (the "Court") has held that the amended "safe harbor" provisions of sections 555 and 559 of the Bankruptcy Code are applicable to "repurchase agreements" involving the transfer of mortgage loans, but are not applicable to the servicing rights portion of such agreements.