Consumer Protection Residential Real Estate Civil Remedies

Read Consumer Protection updates, news, and legal commentary from leading lawyers and law firms:
News & Analysis as of

CFPB Takes First Action Enforcing New Mortgage Servicing Rules

In its first action alleging violations of the new mortgage servicing rules, the Consumer Financial Protection Bureau (CFPB) ordered Flagstar Bank to pay a $10 million fine and provide $27.5 million to customers. ...more

CFPB Permits Refunds of Points and Fees Charged for Qualified Mortgages

On October 22, 2014, the CFPB announced that it would permit refunds of excessive fees (with interest) within 210 days after loan closing for qualified mortgages. The provision expires in January 2021 and requires lenders to...more

CFPB RESPA Enforcement Action Targets Marketing Services Agreements

On September 30, the CFPB announced a consent order with a Michigan-based title insurance company to address allegations that the company’s marketing services agreements (MSAs) with several real estate brokers violated the...more

CFPB Issues First Enforcement Action for Servicing Rules Violations

The Consumer Financial Protection Bureau recently announced a consent order with Flagstar Bank, F.S.B., alleging unfair acts and practices under the Consumer Financial Protection Act (CFPA) and violations of the CFPB's...more

Florida and Connecticut AGs file lawsuit asserting Dodd-Frank enforcement authority

On July 29, 2014, another Section 1042 lawsuit was filed jointly by the Attorneys General of Florida and Connecticut in a Florida federal court. The lawsuit alleges that four individuals and their four businesses formulated...more

Bank of America’s $16.65 Billion Settlement

In what is being reported as the largest settlement ever between the U.S. and a single business entity, Attorney General Eric Holder and Associate Attorney General Tony West announced Thursday that Bank of America Corp....more

CFPB Fines Online Mortgage Company And Its Owner For Alleged Deceptive Rate Advertising

On August 12, the CFPB announced a consent order with a nonbank mortgage lender, its affiliated appraisal management company (AMC), and the individual owner of both companies to resolve allegations that the lender deceptively...more

SDNY Orders Bank To Pay $1.3 Billion Following Verdict In GSE Civil Fraud Case

On July 30, the U.S. District Court for the Southern District of New York ordered a bank to pay a nearly $1.3 billion civil penalty after a jury found the bank liable in October 2013 on one civil mortgage fraud charge arising...more

CFPB, State AGs Weigh In On TILA Rescission

This week, the CFPB and 25 states filed amicus briefs in Jesinoski v. Countrywide Home Loans, Inc., No. 13-684, a case pending before the U.S. Supreme Court that may resolve a circuit split over whether a borrower seeking to...more

S.D.N.Y. U.S. Attorney Obtains FHA, GSE False Claims Settlement

On July 1, the U.S. Attorney for the Southern District of New York announced that a large bank agreed to pay $10 million to resolve allegations that prior to 2011 it violated the False Claims Act and FIRREA by failing to...more

Suntrust Reaches $320 Million Settlement

SunTrust Banks (“SunTrust”) reached a settlement with Federal prosecutors last week in which it agreed to a $320 million settlement for a combination of consumer relief and housing counseling services. SunTrust issued a press...more

Massachusetts AG Requires Mortgage Servicer To Provide Foreclosure-Related Relief

On June 16, Massachusetts Attorney General (AG) Martha Coakley announced that a large mortgage servicer agreed to provide $3 million in borrower relief and pay $700,000 to the Commonwealth to resolve allegations that the...more

DOJ And CFPB Team Up To Take On Auto And Mortgage Lenders

The CFPB and the Department of Justice (DOJ) are joining forces to pursue damages and penalties against consumer lenders for violation of the Equal Credit Opportunity Act (ECOA) in pricing consumer loans....more

The SCRA can be a Minefield: Recent Ninth Circuit Opinion Addresses Foreclosure Protection

On February 7, the U.S. Ninth Circuit Court of Appeals issued its opinion in Brewster v. Sun Trust Mortgage, Inc. The decision stands as a stark reminder to mortgage lenders and servicers of the importance of verifying a...more

CFPB Fines First Alliance for Illegal Real Estate Fee Split

First Alliance obtains distressed consumer mortgages from mortgage servicers. It then offers those consumers new loans with reduced principal amounts using federally related mortgage. In 2010 it started using a hedge fund...more

CFPB files second amicus brief in First American RESPA case

Last year, many observers were disappointed when the U.S. Supreme Court dismissed the appeal in First American Financial Corp. v. Edwards, the case that presented the issue of whether a plaintiff who brings a RESPA claim has...more

N.J.’s Supreme Court Weighs In On Proper Measure of Damages under the Consumer Fraud Act and Interrelationship Between...

In D’Agostino v. Maldonado, 2013 WL 5476857 (Oct. 3, 2013), the New Jersey Supreme Court weighed in on whether the New Jersey Consumer Fraud Act ("CFA") could be triggered by a complex real estate deal between a purported...more

Henning vs Wachovia Mortgage FSB aka Wells Fargo Bank N.A.

Federal Judge William Young in Massachusetts Orders Wells Fargo and a majority of its board to approve a corporate resolution...

Federal Judge William Young in Massachusetts is making an unusual request of Wells Fargo in a Sept. 17 ruling in which he's requiring the bank's president and a majority of its board to approve a corporate resolution stating...more

PHILLIP R. CORVELLO v. WELLS FARGO BANK, NA, DBA America’s Servicing Company, DBA Wells Fargo Home Mortgage, Inc.

PHILLIP R. CORVELLO v. WELLS FARGO BANK, NA, RE: CLASS ACTION COMPLAINT FOR BREACH OF CONTRACT, BREACH OF IMPLIED COVENANT OF GOOD...

CLASS ACTION COMPLAINT FOR BREACH OF CONTRACT, BREACH OF IMPLIED COVENANT OF GOOD FAITH AND FAIR DEALING, VIOLATION OF THE UNFAIR COMPETITION LAW, AND PROMISSORY ESTOPPEL. THE 9TH CIRCUIT COURT OF APPEALS REVERSED THE...more

PHILLIP R. CORVELLO, Plaintiff-Appellant, v. WELLS FARGO BANK, NA, DBA America’s Servicing Company, DBA Wells Fargo Home Mortgage, Inc., Defendant-Appellee

APPELLANTS’ OPENING BRIEF Re: Wells Fargo Mortgage Modification Lawsuits Revived by 9th Circuit Court of Appeals

ISSUES PRESENTED 1. Whether the district court erred in ruling that plaintiffs failed to allege the existence of binding TPP Agreements. 2. Whether the district court erred by dismissing plaintiffs’ breach of TPP...more

PHILLIP R. CORVELLO, Plaintiff-Appellant, v. WELLS FARGO BANK, NA, DBA America’s Servicing Company, DBA Wells Fargo Home Mortgage, Inc., Defendant-Appellee

Wells Fargo Mortgage Modification Lawsuits Revived by 9th Circuit Court of Appeals

Wells Fargo Mortgage Modification Lawsuits Revived by Court In a separate action involving Wells Fargo, a U.S. Court of Appeals held that the bank must face lawsuits by home loan borrowers for refusing to offer them...more

THOMAS A. GLASKI, v. BANK OF AMERICA N.A OPINION ORDERED PUBLISHED on 8/8/13 Author: Franson, Jr., Donald R.

THOMAS A. GLASKI v BANK OF AMERICA SECOND AMENDED COMPLAINT RE: Borrower May Challenge The Securitized Trust's Claim to Ownership

IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA FIFTH APPELLATE DISTRICT OPINION ORDERED PUBLISHED ON 8/8/2013 Re: Borrower May Challenge The Securitized Trust’s Chain of Ownership CERTIFIED FOR PUBLICATION IN THE...more

THOMAS A. GLASKI, v. BANK OF AMERICA N.A OPINION ORDERED PUBLISHED on 8/8/13 Author: Franson, Jr., Donald R.

IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA FIFTH APPELLATE DISTRICT OPINION ORDERED PUBLISHED ON 8/8/13 Re: Borrower May...

IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA FIFTH APPELLATE DISTRICT OPINION ORDERED PUBLISHED ON 8/8/13 Re: Borrower May Challenge The Securitized Trust’s Chain of Ownership Glaski v. Bank of America, N.A. Case...more

SECURITIES AND EXCHANGE COMMISSION, v. BANK OF AMERICA, N.A., BANC OF AMERICA MORTGAGE SECURITIES, INC., and MERRILL LYNCH, PIERCE, FENNER & SMITH, INC. f/k/a BANC OF AMERICA SECURITIES LLC,

SECURITIES AND EXCHANGE COMMISSION v BANK OF AMERICA N.A. COMPLAINT FOR INJUNCTIVE AND OTHER RELIEF

Civil Action No. 3:13-cv-447 The Securities and Exchange Commission today charged Bank of America and two subsidiaries with defrauding investors in an offering of residential mortgage-backed securities (RMBS) by failing to...more

CAROL COKER v. JP MORGAN CHASE BANK, N.A., et al., Re: California law prohibits a deficiency judgment following either a foreclosure sale or short sale

CAROL COKER v. JP MORGAN CHASE BANK, N.A. Re: California Law Prohibits a Deficiency Judgment following either a Foreclosure Sale...

The California Court of Appeal, Fourth Appellate District, held in a case of first impression that a section of California law that prohibits a deficiency judgment following a foreclosure on a purchase money loan similarly...more

225 Results
|
View per page
Page: of 9

Follow Consumer Protection Updates on: