Opinion ID: 3172574
Heading Depth: 3
Heading Rank: 1

Heading: Lehman Holdings’ Claims

Text: One of the appellants, Lehman Holdings, appeals from dispositions on claims involving five loans that Universal American sold in 2006 to Lehman Bank. Lehman Bank sold the loans and assigned the contractual rights to Lehman Holdings, which then sold the loans to either the Federal Home Loan Mortgage Corporation (commonly known as Freddie Mac) or the Federal National Mortgage Association (commonly known as Fannie Mae). Freddie Mac and Fannie Mae eventually determined that the five loans were unacceptable and demanded payment from Lehman Holdings. Lehman Holdings complied, then brought five suits in 2011 against Universal American for breach of contract. In each case, the district court 5 granted summary judgment to Universal American based on expiration of the period of limitations.