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Loan Seller Must Indemnify Bank (access required)

A bank that sold loans to SunTrust Mortgage, who in turn sold loans to Fannie Mae, must indemnify SunTrust after Fannie Mae demanded that SunTrust repurchase a loan discovered to have inadequate documentation; a Richmond U.S. District Court grants summary judgment to SunTrust. On Sept. 2, 2004, plaintiff SunTrust Mortgage Inc. and defendant North Shore Bank ...

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