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Insurer Must Prove All Elements Of RMBS Fraud, Court Says

By Cara Mannion ( May 16, 2017, 8:15 PM EDT) -- A New York appeals court ruled Tuesday that bond insurer Ambac Assurance Corp. cannot use state insurance law to get out of proving loss causation in its suit alleging Countrywide Financial Corp. fraudulently induced it into issuing unconditional and irrevocable insurance policies on mortgage-backed securities....

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