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?