This memorandum is uncorrected and subject to revision before publication in the New York Reports. -----------------------------------------------------------------

No. 39 Nomura Home Equity Loan, Inc., Series 2006-FM2, by HSBC Bank USA, National Association, solely in its capacity as Trustee, et al., Respondents, v. Nomura Credit & Capital, Inc. Appellant. (And Three Other Actions.)

Joseph J. Frank, for appellant. Michael S. Shuster, for respondents. Securities Industry and Financial Markets Association; Sand Canyon Corporation, amici curiae.

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Reargument ordered for a future Court session.

Decided May 9, 2017