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California Man Pleads Guilty to Criminal Charges Relating to HAMP Modification Scheme

On May 4, 2016, the United States Attorney for the Southern District of New York and the Special Inspector General of the Troubled Asset Relief Program (SIGTARP) announced that a California man was found guilty of...more

Sixth Circuit Files Win for Bankruptcy Debtors Harassed During Automatic Stay

Creditors of bankruptcy debtors beware: a recent opinion from the Sixth Circuit Court of Appeals makes clear that creditors cannot circumvent the ban on collection efforts following the petition for bankruptcy by trying to...more

SEC Files Offering Fraud, Microcap Fraud Actions

Microcap fraud and offering fraud cases are staples of SEC enforcement. The agency added to its totals in these areas, filing an additional offering fraud and microcap fraud action. SEC v. Mogler, Civil Action No. 15-cv-01814...more

Insurance – Duty to Defend

Gonzalez v. Fire Insurance Exchange, et al. - Court of Appeal, Sixth Appellate District (March 4, 2015) - Typically, claims of sexual assault or claims related to sexual assault are not covered under a standard...more

No Safe Haven: DOJ Can and Will Seize Proceeds of Wholly Foreign Corruption

Nine pieces of real property in the New Orleans area purchased and owned by Honduran government official Mario Roberto Zelaya Rojas (“Zelaya”) are proceeds of criminal activity and subject to seizure, according to a civil...more

Supreme Court Update: Jesinoski V. Countrywide Home Loans (13-684) And Whitfield V. United States (13-9026)

Greetings, Court fans! The Court returned to action yesterday with two quick-and-unanimous decisions on statutory construction, Jesinoski v. Countrywide Home Loans (13-684), addressing the time and manner for exercising...more

Former JPMorgan Chase Insider Blows the Whistle

Matt Taibbi of Rolling Stone recently profiled the woman JPMorgan Chase paid one of the largest fines in American history to keep from talking in his article, The $9 Billion Witness: Meet JPMorgan Chase’s Worst Nightmare....more

The Meth Business is Dangerous; (En)trust No One

For a landlord, it’s a bad day when your tenant gets busted for operating a meth lab, and the local authorities condemn your house because it’s contaminated with the byproducts of his business. It’s even worse when you learn...more

BankinBits First Quarter Recap

The BankinBits blog, which discusses recent developments in the banking industry, has within the first quarter of 2014 addressed a diverse range of topics including banking services for the marijuana industry, the shuttering...more

Don’t Let Your Client’s Assets Go Up In Smoke When They Discover That Their Tenant Is Growing or Manufacturing Drugs In Their...

Your next-door neighbors may look like normal, law-abiding citizens, but you never really know what they’re hiding beneath their homes – like a largescale marijuana grow operation, perhaps? One such operation was uncovered in...more

Federal Criminal Investigation of JPMorgan

The civil division of the Justice Department has preliminarily concluded that JPMorgan broke federal laws in connection with its sale from 2005 to 2007 of subprime and Alt-A residential mortgage securities, and the bank is...more

State v. Brown Affords Managers in the Mortgage Processing Industry a Cautionary Tale

In Brief: - Significant jail time can result from overseeing and directing unauthorized robo-signing activities. - Victims of unauthorized robo-signing include residential mortgage servicers, in addition to...more

What’s at the Bottom of the ‘Robosigning’ Scandal?

The problematic practice of robosigning – whereby banks and other lenders improperly foreclosed on properties through formulaically processing foreclosure documents – has been much in the news over the past couple of years....more

FinCEN Proposes Rules for Government-Sponsored Enterprises To Combat Mortgage Fraud

As part of its ongoing efforts to combat mortgage fraud and other related financial crimes, on November 8, 2011, the Financial Crimes Enforcement Network (FinCEN) published in the Federal Register a Notice of Proposed...more

Mortgage Lender Not "Financial Institution" For Federal Criminal Bank Fraud Just Because It Was Owned By A Financial Institution

Question: Is a mortgage lender that is a wholly-owned subsidiary of a “financial institution” itself a “financial institution” for purposes of federal criminal bank fraud? Answer: No, according to the Ninth Circuit Court...more

New Massachusetts Law Affecting Foreclosures, Evictions, Reverse Mortgage Lending and Mortgage Fraud

On August 7, 2010, Massachusetts Governor Deval Patrick signed new legislation affecting mortgages, Chapter 258 of the Acts of 2010, “An Act Relative to Mortgage Foreclosures” (the “Act.”) The earliest version of the Act was...more

Financial Crisis Alert: FBI Probes Role of 26 Firms in Financial Crisis

Law enforcement officials have said that Fannie Mae, Freddie Mac, Lehman Brothers and American International Group (AIG) are 4 of 26 companies subject to corporate fraud investigation by the FBI. The investigations come in...more

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