(Bloomberg) -- Bank of America Corp.s Merrill Lynch unit must face a lawsuit filed by two trusts that hold and administer mortgages on behalf of investors who own more than $1 billion worth of securities collateralized by the loans.
The trusts sued Merrill Lynch Mortgage Lending Inc. in New York State Supreme Court in Manhattan in December, seeking to force it to repurchase loans that allegedly didnt conform to representations and warranties about their quality and characteristics.
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