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10-09-28 AMBAC v Countrywide (651612/2010) at the NY Supreme Court, County of NY, Summons and Complaint

10-09-28 AMBAC v Countrywide (651612/2010) at the NY Supreme Court, County of NY, Summons and Complaint

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Countrywide] emerged as the number-one mortgage lender in the country
over the last decade as it fueled the inflation ofthe housing market bubble. Now that the bubble
has burst, the secret of Countrywide's short-term success-and long-term demise-has become
clear: Countrywide became the country's number-one mortgage lender by abandoning its
underwriting standards and condoning fraud by its employees, business partners, and many of its
borrowers.
Countrywide] emerged as the number-one mortgage lender in the country
over the last decade as it fueled the inflation ofthe housing market bubble. Now that the bubble
has burst, the secret of Countrywide's short-term success-and long-term demise-has become
clear: Countrywide became the country's number-one mortgage lender by abandoning its
underwriting standards and condoning fraud by its employees, business partners, and many of its
borrowers.

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Published by: Human Rights Alert, NGO on Oct 16, 2010
Copyright:Attribution Non-commercial

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01/14/2013

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FILED: NEW YORK COUNTY CLERK 09/28/2010
INDEX NO. 651612/2010NYSCEF DOC. NO. 1RECEIVED NYSCEF: 09/28/2010
SUPREMECOURTOFTHESTATEOFNEWYORKCOUNTYOFNEWYORK
--------------
--
------
--
--------
--
--x
AMBACASSURANCECORPORATIONandTHESEGREGATEDACCOUNTOFAMBACASSURANCECORPORATION,Plaintiffs,-against-COUNTRYWIDEHOMELOANS,INC.,COUNTRYWIDESECURITIESCORP.,COUNTRYWIDEFINANCIALCORP.(n.k.a.Bank
of
AmericaHomeLoans),andBANKOFAMERICACORP.,Defendants.----------------------
--
--
--
--------xTotheabovenamedDefendants:IndexNo._Datepurchased:_
SUMMONS
YOUAREHEREBYSUMMONED
to
answerthecomplaint
in
thisactionand
to
serveacopy
of
youranswerwithin20daysaftertheservice
of
thissummons,exclusive
of
theday
of
service(orwithin30daysaftertheserviceiscomplete
if
thissummonsisnotpersonallydeliveredtoyouwithintheState
of
NewYork);and
in
case
of
yourfailure
to
submitansweringpapers,judgmentwillbetakenagainstyoubydefault
for
thereliefdemandedinthecomplaint.VenueinNewYorkCounty
is
properpursuant
to
CPLR
§§501
and503.Thebases
of
venuearePlaintiffAmbacAssuranceCorporation'sandseveraldefendants'residence
in
NewYorkCounty,
see
CPLR
§§
503(a),(c),andacontractualprovision,
see
CPLR§501.
 
Dated:NewYork,NewYorkSeptember28,2010PATTERSONBELKNAPWEBB
&
TYLERLLPPhilip.Forlenza(prforlenza@pbwt.com)ErikHaas(ehaas@pbwt.com)Peter
W.
Tomlinson(pwtomlinson@pbwt.com)1133Avenue
of
theAmericasNewYork,NewYork10036-6710Telephone:
(2
J
2)336-2000Fax:(212)336-2222
Attorneys/orAmbacAssuranceCorporation
and
The
SegregatedAccount
o/Ambac
AssuranceCorporation
2
 
PATTERSONBELKNAPWEBB
&
TYLERLLPPhilip
R.
Forlenza(prforlenza@pbwt.com)ErikHaas(ehaas@pbwt.com)Peter
W.
Tomlinson(pwtomlinson@pbwt.com)1133Avenue
of
theAmericasNewYork,NewYork10036Telephone:(212)336-2000Fax:(212)336-2222
AttorneysforPlaintifftAmbacAssuranceCorporation
and
The
SegregatedAccount
of
AmbacAssuranceCorporation
SUPREMECOURTOFTHESTATEOFNEWYORKNEWYORKCOUNTYCOUNTRYWIDEHOMELOANS,INC.,COUNTRYWIDESECURITIESCORP.,COUNTRYWIDEFINANCIALCORP.(n.k.a.Bank
of
AmericaHomeLoans),andBANKOFAMERICACORP.,
COMPLAINT
IndexNo._Plaintiffs,
v.
)
AMBACASSURANCECORPORATIONand
THE)
SEGREGATEDACCOUNTOFAMBAC)ASSURANCECORPORATION,)
)
))))
)
)
)))
Defendants.)
--------------
PlaintiffsAmbacAssuranceCorporation("Ambac")andTheSegregatedAccount
of
AmbacAssuranceCorporation(the"SegregatedAccount,"collectivelywithAmbac,"Plaintiffs"),
by
andthroughtheirattorneysPattersonBelknapWebb
&
TylerLLP,fortheircomplaintagainstthedefendants,CountrywideHomeLoans,Inc.("CountrywideHome"),CountrywideSecuritiesCorporation("CountrywideSecurities"),CountrywideFinancialCorporation(n.k.a.Bank
of
AmericaHomeLoans)("CountrywideFinancial,"collectivelywithCountrywideHomeandCountrywideSecurities,"Countrywide"),andBank
of
AmericaCorporation("Bank
of
America"),allegeasfollows:

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