A New York state judge ruled against summary judgment, so the battle between Bank of America (NYSE:BAC) and MBIA (NYSE:MBI) will continue. The dispute centers around which company is liable for losses stemming from mortgage-backed securities containing loans originated by Countrywide, the embattled mortgage company B of A ultimately acquired.

In this video, Motley Fool banking analysts David Hanson and Matt Koppenheffer give their takes on what it means for investors in these companies and who may have the upper hand during settlement talks.

Any steam left?

David Hanson has no position in any stocks mentioned. Matt Koppenheffer owns shares of Bank of America and so does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.