Civil Procedure › Residential Real Estate › Consumer Protection

Ohio Supreme Court Holds Mortgage Servicing Not Subject To Consumer Sales Practices Act

On May 14, the Ohio Supreme Court held in response to two certified questions from a federal district court that the Ohio Consumer Sales Practices Act (CSPA) generally does not apply to mortgage servicers and servicing....more

Mortgage Banking Update: 10th Circuit: Law Firm Not Required To Flag Erroneous Credit Reports in Foreclosure Proceeding

A law firm hired to foreclose on a property was not required under the Fair Debt Collection Practices Act (FDCPA) to inform a credit reporting agency of erroneously negative credit reports on the borrower, even if the firm...more

KEVIN SINGH v BANK OF AMERICA

MEMORANDUM AND ORDER GRANTING Plaintiff’s Application for a Preliminary Injunction under California's Homeowners Bill of Rights...

California Homeowner Bill of Rights (HBOR) Blocks Bank of America's Foreclosure A California man successfully halted a foreclosure sale on his property using the newly minted California Homeowner Bill of Rights to obtain a...more

CONGRESSIONAL BUDGET OFFICE (CBO) RE Options for Principal Forgiveness

Modifying Mortgages Involving Fannie Mae and Freddie Mac: Options for Principal Forgiveness

The Congressional Budget Office is accepted as a non-partisan agency which has torpedoed both Democratic and Republican proposals on the economy. Upon request from Congress, the CBO studied the mortgage and foreclosure market...more

City of Los Angeles v Deutsche Bank National Trust Company

City of Los Angeles v Deutsche Bank National Trust Company re: Complaint to Abate Public Nuisance

http://www.scribd.com/doc/137914455/City-of-Los-Angeles-v-Deutsche-Bank-National-Trust-Company (Link to Complaint) Apr 23, 2013 A judge has denied Deutsche Bank AG's bid to dismiss a lawsuit by the city of Los...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 19, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - CREDIT CARDS - Excerpt from Consumer...more

How the Eaton decision applies to future cases and why legal arguments need to be presented carefully.

Have you heard of the Eaton case in Massachusetts? If you are facing foreclosure and think you may have a defense, especially if you believe the bank may not own the note and the mortgage, you should read this post. In...more

California Reinvestment Coalition Report Re: Bank Violations Hurt Hardest Hit Communities April 2013

CHASM BETWEEN WORDS AND DEEDS: WELLS FARGO IS LISTED AS THE WORST SERVICER, MORE THAN ANY OTHER SERVICER

A new survey of housing counselors in California reveals that banks are violating several consumer protections that were mandated by the $26 billion National Mortgage Settlement (NMS) and the California Homeowners Bill of...more

ROBERT LOCKETT vs. BANK OF AMERICA, N.A.

NOTICE OF RULING: THE COURT OVERRULES BANA'S DEMURRER TO QUIET TITLE, CANCELLATION OF INSTRUMENT, ACCOUNTING & DECLARATORY RELIEF...

THE HONORABLE ABRAHAM KHAN OF THE LOS ANGELES SUPERIOR COURT OVERRULES BANK OF AMERICA'S DEMURRER TO QUIET TITLE, CANCELLATION OF INSTRUMENT, ACCOUNTING AND DECLARATORY RELIEF AND DENIES JUDICIAL NOTICE OF THE DEED OF TRUST...more

ROBERT LOCKETT vs. BANK OF AMERICA, N.A.

COURT OVERRULES BANA'S DEMURRER TO QUIET TITLE, CANCELLATION OF INSTRUMENT, ACCOUNTING & DECLARATORY RELIEF & DENIES JUDICIAL...

THE HONORABLE ABRAHAM KHAN OF THE LOS ANGELES SUPERIOR COURT OVERRULES BANK OF AMERICA'S DEMURRER TO QUIET TITLE, CANCELLATION OF INSTRUMENT, ACCOUNTING AND DECLARATORY RELIEF AND DENIES JUDICIAL NOTICE OF THE DEED OF TRUST...more

Debtor v. Bank of America, N.A.; 2:11-ap-01983-VZ

Court Transcript on Summary Judgment Hearing

Debtor's counsel successfully defeated this summary judgment motion brought forth by Bank of America, N.A. and a successive motion in this case. A pretrial conference is scheduled for May 23, 2013. The findings of fact...more

FEDERAL HOUSING FINANCE AGENCY OFFICE OF INSPECTOR GENERAL

FHFA Should Develop and Implement a Risk-Based Plan to Monitor the Enterprises’ Oversight of Their Counterparties’ Compliance with...

Summary OIG assessed FHFA’s oversight of Fannie Mae’s and Freddie Mac’s (the Enterprises) monitoring of their counterparties’ compliance with their contractual agreements, with an emphasis on their compliance with federal...more

Class Certification Affirmed In Homeowners’ Action Against Law Firm Alleging Violations Of FCCPA And FDUTPA

In Law Offices of David J. Stern, P.A. v. Hewitt, 106 So. 3d 489 (Fla. 4th DCA 2013), the District Court of Appeal of the Fourth District of Florida reviewed a trial court order certifying a class of homeowners in an action...more

Arden M. Intengan v. BAC Home Loans Servicing Lp, et al.,

Intengan v. BAC Home Loans, Judgment Dismissing Plaintiff's Complaint Alleging Defendants Lacked Authority to Foreclose on Her...

Arden Intengan v. BAC Home Loans, A135782 Judgment dismissing plaintiff's complaint alleging defendants lacked authority to foreclose on her property is reversed as to the cause of action for wrongful foreclosure, where:...more

FEDERAL HOUSING FINANCE AGENCY OFFICE OF INSPECTOR GENERAL

Enhanced FHFA Oversight Is Needed to Improve Mortgage Servicer Compliance with Consumer Complaint Requirements

Why OIG Did This Audit By the end of 2012, Freddie Mac owned or guaranteed over 10.6 million residential mortgages with a combined unpaid principal balance of $1.6 trillion. It pays mortgage servicers to collect payments...more

APPELLANT vs. WELLS FARGO BANK, N.A.

APPELLANT'S REQUEST FOR JUDICIAL NOTICE OF A RELATED CASE

Shown below is a sample Request for Judicial Notice. This Request for Judicial Notice is provided for informational purposes, and is not intended as a substitute for legal advice or for representation by a qualified...more

APPELLANT vs. WELLS FARGO BANK, N.A.

APPELLANT'S REQUEST FOR JUDICIAL NOTICE OF A RELATED CASE

Shown below is a sample Request for Judicial Notice This Request for Judicial Notice is provided for informational purposes, and is not intended as a substitute for legal advice or for representation by a qualified...more

UNITED STATES OF AMERICA DEPARTMENT OF THE TREASURY COMPTROLLER OF THE CURRENCY (OCC) In the Matter of Bank of America, N.A.

Office of the Comptroller of the Currency (OCC) Amended Consent Order Against Bank of America, N.A.

Amendments to Consent Orders Memorialize $9.3 Billion Foreclosure Agreement WASHINGTON — The Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board today released amendments to their enforcement...more

UNITED STATES OF AMERICA DEPARTMENT OF THE TREASURY COMPTROLLER OF THE CURRENCY (OCC) In the Matter of Wells Fargo Bank, N.A.

Office of the Comptroller of the Currency (OCC) Amended Consent Order Against Wells Fargo Bank

Amendments to Consent Orders Memorialize $9.3 Billion Foreclosure Agreement WASHINGTON — The Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board today released amendments to their enforcement...more

JAMES K. LINDSEY v. WELLS FARGO BANK, N.A.,

FL 1st DCA Opinion filed February 27, 2013

We have a new ruling – Lindsey vs Wells Fargo (FL 1st DCA 2013) that finds a mortgage assignment, alone and by itself, cannot be relied upon to show competent evidence a plaintiff is a lawful holder of a note bearing no...more

Defendants In CFPB Enforcement Action Renew Challenge To Validity Of Director’s Appointment

On February 11, a law firm and related parties sued by the CFPB for allegedly deceiving consumers through a network of mortgage loan modification businesses filed a brief in which they renewed a challenge to the CFPB...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - February 22, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - PAYMENTS - SECURITIES - Excerpt from Mortgages:...more

SCOTT JOLLEY v CHASE HOME FINANCE

IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA FIRST APPELLATE DISTRICT DIVISION TWO Re: OPINION REVERSING CHASE'S SUMMARY...

A financial institution that has assumed the assets of a failed bank may be held liable for breach of a duty to deal in good faith with a customer of its predecessor, the First District Court of Appeal has ruled. Div. Two...more

McCarn v. HSBC USA, Inc.: A Federal Court Dismisses a Plaintiff's Attempt to Apply Antitrust-Conspiracy Principles to a Consumer...

On November 13, 2012, the U.S. District Court for the Eastern District of California, in McCarn v. HSBC USA, Inc., 2012 U.S. Dist. LEXIS 162257, issued an important decision rejecting as inadequate a plaintiff’s attempt to...more

Navigating Non-Judicial Foreclosures -- After Bain v. Metropolitan Mortgage Group, Inc., et al.

Originally published in Washington Bankers' Issues & Answers - November/December 2012. In August, the Washington State Supreme Court weighed in on the role of Mortgage Electronic Registration Systems, Inc. (“MERS”) in...more