US Bank Sues BofA for Mortgage-Related Breach of Contract

Charlotte Business Journal (N.C.), May 29, 2019–Caroline Hudson
The complaint involves First Franklin Financial Corp., which was acquired by Merrill Lynch & Co. Inc. in 2006. BofA then acquired Merrill Lynch in 2008. According to court documents, First Franklin sold defective mortgages to a residential mortgage-backed securities trust in 2007, but failed to inform U.S. Bank, who is acting as trustee.