Along with surrounding people breaches of your representations and you will guarantees, the repurchase process is the just recourse as to any bad mortgage – it doesn’t matter if you to definitely problem was a violation off “loan-level” representations designed to buyers

Its well settled you to definitely “process of law have to honor contractual provisions you to definitely restriction accountability otherwise problems because the the individuals terms show the latest parties’ agreement on allocation of your chance of monetary loss in particular eventualities” (id. on 581). “Contract terms bringing to possess a best remedy was sufficiently clear so you’re able to establish one not one remedy try considered by the events from the enough time the fresh contract are molded, to possess reason for one the main deal . . . Lees verder “In the sense, the brand new truthful allegations underpinning Ambac’s purchase-level breaches are the same since those people for the mortgage-top breaches”