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NJ Borrowers under HAMP May Pursue State Law Claims

It is well-established that the federal Home Affordable Modification Program (HAMP) does not offer borrowers a private right of action to allege a lender or servicer violated HAMP. However, the New Jersey Appellate Division...more

UDAAP Council Weekly UDAAP Standards Report - 4/22/2015

Every week, courts around the United States issue decisions addressing aspects of civil UDAAP claims. In an effort to illuminate the UDAAP standards, below is a sampling of some of this week’s UDAAP decisions on the meaning...more

Can First Deeds of Trust Survive an HOA Foreclosure in Wake of the SFR Investments Decision?

In September 2014, the Nevada Supreme Court, in SFR Investments Pool 1, LLC v. U.S. Bank, N.A., 334 P.3d 408 (Nev. Sep. 18, 2014), held that a portion of a homeowners’ association lien for delinquent assessments has true...more

Appellate Court Notes

- AC36342 - Budrawich v. Budrawich Post-dissolution motion to modify child support denial was upheld by the Appellate Court due to lack of substantial change in circumstances, when ex-husband’s increased income was not...more

NC Foreclosure Statute of Limitations – A Tale of “Zombie” Deeds of Trust?

Let’s face it. Zombies are everywhere. I can’t seem to pass a movie theater or flip a TV channel without seeing or hearing something about them. So of course they were top of mind when I read the North Carolina Court of...more

CFPB files amicus brief in Fifth Circuit TILA case

The CFPB has filed an amicus brief in Billings v. Propel Financial Services, LLC, a case on appeal to the U.S. Court of Appeals for the Fifth Circuit. The issue in the case is whether a private lender extends“consumer credit”...more

Court of Appeals Holds Plaintiff Stated Claim for Void Mortgage Based on Allegations of Improper Notarization

In Etta Lowery v. Wells Fargo Home Mortgage, No. 2131060, 2015 WL 1525153 (Ala. Civ. App. Apr. 3, 2015), the Alabama Court of Civil Appeals reversed the trial court’s judgment on the pleadings entered in favor of...more

Georgia Banking Regulator Revokes License of Pennsylvania Mortgage Lender

On April 13, the Georgia Department of Banking and Finance (Department) entered into a Consent Order (Order) with a Pennsylvania-based mortgage lender and its owners for failing to file a timely application with the state...more

Second Circuit Affirms Dismissal of Class Action Alleging That RBS Mislead Investors About RMBS Exposure

On April 15, 2015, the U.S. Court of Appeals for the Second Circuit affirmed the dismissal of a putative investor class action against the Royal Bank of Scotland (RBS). The plaintiffs had brought claims under Sections 10(b)...more

Consent Judgments Entered Against Individuals and Law Firm Accused of Mass-Joinder Mortgage Rescue Scams

Consent judgments in a lawsuit brought by the Florida and Connecticut Attorneys General have been entered against five individuals and one law firm for their part in an alleged “mass-joinder” mortgage rescue scam....more

Plaintiff in Foreclosure Action Snared by Evidence of Damages, Attorney’s Fees & Costs

In Colson v. State Farm Bank, F.S.B., Case No. 2D13-5526, Florida’s Second District Court of Appeals just reversed a final judgment of foreclosure entered in favor of the plaintiff, finding that a “total lack of evidence as...more

Wisconsin Foreclosure Sale Process Just Got a Lot Faster

Recently, in Bank of New York Mellon v. Carson, the Wisconsin Supreme Court issued a decision that, in the words of Justice David Prosser, Jr., “radically revises the law on mortgage foreclosures” and could significantly...more

Arizona Courts Lacks Authority To Stay Forcible Entry And Detainer Judgments When The Judgment Itself Is Not Pending Appeal

Can a court stay the execution of a Forcible Entry and Detainer (“FED”) action when the FED judgment itself is not appealed? The Arizona Court of Appeals recently addressed this question, holding that the court did not have...more

Borrowers Don’t Have Private Right of Action Under HAMP but May Pursue New Jersey State Law Claims

Action Item: To avoid possible state law claims related to denial of loan modifications, trial modification offers should clearly define the requirements a borrower must fulfill to receive a loan modification, and lenders and...more

Locke Lord QuickStudy: Third Circuit Expands Reach of FDCPA in Kaymark Decision

Just last week, the Third Circuit held that a borrower can state a claim for violation of the Fair Debt Collection Practices Act (FDCPA) when a foreclosing plaintiff alleges incorrect fees as part of a foreclosure complaint. ...more

Sixth Judicial Circuit Rules in Creditor’s Favor on 559.72(18) Claim Under FCCPA

A recent opinion issued by the Sixth Judicial Circuit in and for Pasco County, Florida, sitting in its appellate capacity, provides further insight regarding what constitutes a violation of section 559.72(18) of the Florida...more

Northern District of California Denies Motion to Dismiss Claims of Negligent Oversight of Loan Origination Employee

On March 31, the Northern District of California denied a Michigan-based mortgage company’s motion to dismiss a Louisiana resident’s amended complaint alleging that the company was negligent in hiring and supervising a branch...more

United States District Court Follows Bartram, Evergrene Partners, Rejects Beauvais as Outlier

In LNB-017-13, LLC v. HSBC Bank USA, N.A., 14-cv-24800-UU, 2015 WL 1546150 (S.D. Fla. April 7, 2015), Judge Ursula Ungaro revisited the familiar topic of the statute of limitations for mortgage foreclosure and previously...more

Morgan Stanley Mortgage Capital Holdings LLC Motion to Dismiss RMBS Claims Granted in Part

On April 3, 2015, Judge Laura Swain of the U.S. District Court for the Southern District of New York granted in part and denied in part Morgan Stanley Mortgage Capital Holdings LLC’s (“MSMC”) motion to dismiss breach of...more

Third Circuit Rules FDCPA Claims Can Be Based on Foreclosure Complaints

The U.S. Court of Appeals for the Third Circuit recently ruled that foreclosure complaints can be the basis of Fair Debt Collection Practices Act (FDCPA) claims. This decision continues the Third Circuit's expansive...more

Overview of the Servicemembers Civil Relief Act

The Servicemembers Civil Relief Act of 2003 (SCRA) protects members of the Army, Navy, Air Force, Marine Corps, and Coast Guard whose financial obligations and ability to participate in civil proceedings are materially...more

Important Fair Debt Collection Practices Act Holding by the Third Circuit Court of Appeals: Misstatements in Foreclosure...

On April 7, 2015, a decision in the case of Kaymark vs. Bank of America, N.A. was handed down by the Third Circuit Court of Appeals, in a precedential opinion authored by Judge Fisher and joined in by Judges Fuentes and...more

Florida Appellate Court Holds Dismissal of Foreclosure Action Could Time Bar Subsequent Action

A recent Florida Third District Court of Appeal opinion should put Florida mortgage lenders on notice: If a foreclosure action is dismissed without prejudice, the lender must affirmatively decelerate the loan or risk that the...more

Lenders Still Struggle with Issue of Standing – a New Spate of Cases out of the Fourth DCA

We have written multiple blogs about standing to foreclose, but a new spate of recent cases out of Florida’s Fourth District Court of Appeals demonstrate that lenders still struggle with the issue of standing. On March 25,...more

New Regulations Likely to Yield New Theories

The plaintiffs’ bar, drawing inspiration from the Consumer Financial Protection Bureau (CFPB) regulations that took effect in early 2014, have begun to pursue new theories of liability under old causes of action. The new...more

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