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BofA wins dismissal of suit seeking mortgage buybacks

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Bank of America Corp. won dismissal of a lawsuit that sought to force the bank’s Countrywide unit to buy back the full unpaid balance of mortgages it had sold to investor trusts. New York state Supreme Court Justice Barbara Kapnick ruled that the plaintiffs failed to meet the preconditions required under the trusts’ pooling and service agreements for bringing a suit, including the support of 25% of certificate holders.

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