Pacific Life Insurance Company et al v. The Bank of New York Mellon

Filing 330

ORDER: The Court will be holding oral argument to address questions concerning the parties' briefing of issues remaining following the Court's partial ruling on summary judgment. To aid the Court in advance of argument, by November 27, 20 23, Plaintiffs shall file a completed version of the attached table pursuant to the following instructions:The table lists types of Events Of Default ("EODs") alleged by Plaintiffs. In the second column, Plaintiffs shall indicate by inserti ng "yes" or "no" whether they allege any post-Settlement EODS of that particular type, and, if yes, during what years. "Settlement" refers to the 2011 Countrywide Settlement. In the third column, Plaintiffs shall identif y the source of the servicing standard or other contractual requirement allegedly breached. Relevant potential sources are: (1) Settlement § 5 (Plaintiffs shall identify the relevant sub-section); (2) Settlement § 10(b); (3)Other (which P laintiffs shall identify). In the fourth column, Plaintiffs shall identify the paragraphs from the Beckles expert report that Plaintiffs contend provide proof of the respective EOD under the respective standard. SO ORDERED. (Signed by Magistrate Judge Robert W. Lehrburger on 11/13/2023) (mml)

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
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PACIFIC LIFE INSURANCE COMPANY
:
And PACIFIC LIFE & ANNUITY COMPANY, :
:
Plaintiffs,
:
:
-against:
:
THE BANK OF NEW YORK MELLON,
:
:
Defendant.
:
:
---------------------------------------------------------------X

11/13/2023

17-CV-1388 (KPF) (RWL)
ORDER

The Court will be holding oral argument to address questions concerning the
parties’ briefing of issues remaining following the Court’s partial ruling on summary
judgment. To aid the Court in advance of argument, by November 27, 2023, Plaintiffs
shall file a completed version of the attached table pursuant to the following instructions:
The table lists types of Events Of Default (“EODs”) alleged by Plaintiffs. In the
second column, Plaintiffs shall indicate by inserting “yes” or “no” whether they allege
any post-Settlement EODS of that particular type, and, if yes, during what years.
“Settlement” refers to the 2011 Countrywide Settlement.
In the third column, Plaintiffs shall identify the source of the servicing standard or
other contractual requirement allegedly breached. Relevant potential sources are: (1)
Settlement § 5 (Plaintiffs shall identify the relevant sub-section); (2) Settlement § 10(b);
(3) Other (which Plaintiffs shall identify).

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In the fourth column, Plaintiffs shall identify the paragraphs from the Beckles
expert report that Plaintiffs contend provide proof of the respective EOD under the
respective standard.
Dated: November 13, 2023
SO ORDERED.

_____________________________
Robert W. Lehrburger
United States Magistrate Judge

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PACLIFE v. MELLON: ALLEGED POST-SETTLEMENT EODs
TYPE OF EOD

Non-eligible Accounts

POSTSETTLEMENT
(No, or Yes, with
applicable years)

Liquidation of loans with
uncured doc exceptions
Failure to repurchase delay
deliver loans
Servicer Admissions

a. Reg-AB Trusts

b. USAP Trusts

Master Servicer reporting

a. Failure to disclose noncompliance
b. Annual officer certificates
(USAP Trusts)
c. Annual officer certificates
(Other Trusts)
d. Independent accounting
reports (USAP Trusts)

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SOURCE OF
STANDARD /
REQUIREMENT

SUPPORTING
PARAGRAPHS IN
BECKLES
REPORT

Notice of R&W breaches
Servicing Breaches

a. Servicing Requirements
Under GAs
b. Failure to maintain REO
properties
c. Industry standard
foreclosure timelines
d. Foreclosures with
missing/defective docs
Failure to repurchase modified
loans

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