The number of new claims related to sellers of legacy mortgage-backed securities from the financial crisis may have peaked, but lawsuits against trustees and servicers may linger for at least a few more years.

A 2015 New York Court of Appeals decision in a lawsuit, ACE Securities Corp. v. DB Structured Products, upheld previous rulings that the contractual statute of limitations that governs loan and securitization sellers' roles runs its course six years after issuance. This more or less put an end to the flood of rep and warrant-based suits related to underperforming 2005-2007 securities, because New York is a financial center, and most are governed by the state's law.

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