Bankruptcy Judge Rules on Repo Agreements - Mortgage Forums for Mortgage Brokers

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Bankruptcy Judge Rules on Repo Agreements

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06-23-2008, 08:52 PM

Veronica Corningstone Veronica Corningstone is offline

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Bankruptcy Judge Rules on Repo Agreements

American Home Mortgage Investment Corp. originally entered into a repurchase transaction with Lehman Brothers Inc. in July 2007 for Lehman's purchase of two series of subordinated notes. Following the agreement, Lehman issued two margin calls, one of which AHM didn't meet. AHM filed for bankruptcy, and Lehman foreclosed on the notes. AHM objected to the liquidation, but a bankruptcy judge upheld Lehman's actions.

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