Residential Real Estate Civil Procedure Consumer Protection

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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

Defendants Granted Limitations-Based Summary Judgment In Captive Reinsurance Class Action

A putative class of mortgage consumers sued Flagstar Bank and its captive reinsurer alleging that they engaged in an illegal “kickback” scheme with private mortgage insurers, which scheme artificially inflated the price of...more

Servicers Face New Requirements for Responding to Consumer Error Claims

The CFPB amendments to Regulation X, which implements the Real Estate Settlement Procedures Act (RESPA) that took effect January 10, impose onerous new requirements on servicers to correct errors and provide information that...more

11th Affirms Dismissal of FDCPA Class Action Based on Law Firm Collection Letter

The Eleventh Circuit has affirmed the dismissal of a putative class action brought under the FDCPA, 15 USC § 1692, against a law firm for sending a letter to a homeowner in default. Specifically, the letter did the...more

California Federal Judge Allows Second Los Angeles Fair Housing Case To Proceed

On June 9, the U.S. District Court for the Central District of California denied a mortgage lender’s motion to dismiss the City of Los Angeles’s Fair Housing Act suit, the second such denial by the same judge in recent weeks....more

Illinois Federal Court Rules on Dodd-Frank’s Truth in Lending Act Amendment

The United States District Court for the Northern District of Illinois granted summary judgment denying a putative class action suit against a mortgage servicer for alleged violations of the Truth in Lending Act concerning...more

Financial Institutions and Creditors’ Rights: Ninth Circuit Finds SCRA Liability Based on Prior Servicer’s Actions

The Servicemembers Civil Relief Act (“SCRA”) was signed into law in 2003, greatly expanding prior legislation in order to better assist servicemembers in avoiding default and foreclosure while they are on active duty. The...more

Court Strikes Class Action Allegations Citing Individualized Causation Issues

A Pennsylvania federal district court granted defendant CitiMortgage’s motion to strike class allegations under Rule 23(d)(1)(D), because it was clear from the complaint that plaintiffs could not meet the requirements for...more

C.D. Cal. Limits Scope Of RESPA Kickback Safe Harbor For “Services Actually Performed”

On April 29, the U.S. District Court for the Central District of California held that RESPA’s preclusion of liability for otherwise illegal kickbacks based on “services actually performed” relates only to “settlement...more

Special Alert: Supreme Court To Hear TILA Rescission Case

On April 28, the U.S. Supreme Court granted certiorari in Jesinoski v. Countrywide Home Loans, Inc., No. 13-684, an appeal of the U.S. Court of Appeals for the Eighth Circuit’s September 2013 holding that a borrower seeking...more

Can You Keep Up? Emergence of CFPB and Significant Developments Transform Consumer Finance Landscape

In the wake of the 2008 financial crisis, Congress passed significant financial system reform legislation, the Dodd-Frank Act, which created a new regulator of financial institutions, the Consumer Financial Protection Bureau...more

We’ve Only Just Begun - Lessons From the CFPB’s First 35 Enforcement Cases

Few agencies have generated as much controversy as the Consumer Financial Protection Bureau. The brainchild of Senator Elizabeth Warren when she was still a professor and the product of the Dodd-Frank Wall Street Reform and...more

New Mexico Supreme Court Analyzes State’s Foreclosure Standing Requirements, Ability To Repay Standard

On February 13, the New Mexico Supreme Court held that a borrower’s ability to repay a home mortgage loan is one of the “borrower’s circumstances” that lenders and courts must consider in determining compliance with the New...more

California Amends its Anti-Deficiency Statute

As of January 1, 2014, California amended its anti-deficiency statute to stop mortgage lenders from “collecting” from homeowners on post-foreclosure debts. Although the amendments were designed to tackle a purely...more

Dodd Frank Act: The Arrival of the ‘Ability to Repay’ Lending Restrictions

The days of exotic mortgage programs like “no doc” and balloon loans may be over. Earlier this month, the long awaited (and by many lenders and experts, dreaded), lending restrictions codified in the Dodd Frank Act...more

Lead Paint Companies Hit With Billion Dollar Judgment in California Public Nuisance Case

In a decision with potentially far-reaching impacts, a California state court has ordered three major paint companies to pay $1.15 billion to clean up lead paint in homes throughout California. People v. Atlantic Richfield...more

Ohio Appellate Court Rejects Mortgage Servicing Class Action, Finds Foreclosure Actions Are Not “Consumer Transactions” Under The...

Yesterday, the Eighth District Ohio Court of Appeals affirmed the dismissal of a putative class action raising claims against a noteholder, mortgage servicer, and law firm under Ohio’s Consumer Sales Practices Act (“CSPA”)....more

In Case You Missed It - Three Cases Impact W.Va. Consumer Finance Law

Confirmation of the W.Va. Attorney General's Authority to Hire Private Counsel on Behalf of the State - For more than a decade, the circuit courts in West Virginia have wrestled with the issue of whether the State...more

Pennsylvania Supreme Court Holds that Scope of Act 6 Is Limited to Loans or Use of Money

For the first time, the Pennsylvania Supreme Court has addressed the important issue of whether, and to what extent, Pennsylvania's Loan Interest and Protection Law (Act 6) may be used as the basis for claims that do not...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

Arizona’s Broad Anti-Deficiency Protection Confirmed

The non-judicial foreclosure process affords banks and lenders a relatively “cheap” means of executing on their collateral in the event of a borrower’s defaults. That cheaper process comes at a price, however. Arizona has a...more

Real Property, Financial Services & Title Insurance Case Law Update: Week Ending September 27, 2013

I. FLORIDA STATE CASES - ILAN NIEUCHOWICZ - Foreclosure/Standing: certifying to Florida Supreme Court as question of great public importance whether a plaintiff in a foreclosure action may cure inability to prove...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - August 25, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - E-COMMERCE - Excerpt from Mortgages: FHFA Plans...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

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