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Ambac's Claims Over $94M MBS Deal Not Ripe, US Bank Says

By Jon Hill ( July 23, 2018, 7:53 PM EDT) -- A mortgage backed securities trustee told a New York federal judge Friday that trust insurer Ambac Assurance Corp. is jumping the gun with its lawsuit alleging that the bank is just trying to protect itself by pushing forward with a "paltry" $94 million settlement of claims brought over allegedly defective Countrywide loans in a particular trust it oversees....

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