Residential Real Estate Finance & Banking Personal Injury

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Court Confirms Bank Can Be Held Liable for Conduct and Representations Occurring During Loan Modification Process

A California Court of Appeal recently held that a defaulting mortgagee can assert claims for breach of contract, wrongful foreclosure, unfair business practices and negligent misrepresentation against the foreclosing bank...more

Court Of Appeal Finds Lender Is Not Entitled To Recover Portion Of Developer's Future Judgment In Connection With Property Damage...

In Thoryk v. San Diego Gas & Electric Co. (2014) 225 Cal.App.4th 386, Thoryk owned a large piece of land ("Land") in San Diego County. Encumbering the Land was a first deed of trust in favor of PFI Realty ("PFI") and a...more

Sellers Cannot Look to the Appraiser When Lenders Pull the Plug on a Prospective House Flip

An outgrowth of Arizona’s housing downturn in recent years has been the proliferation of would-be real estate investors who purchase, renovate and flip residential properties. On the other hand, in part to prevent the next...more

Sixth Circuit Holds PTFA Preempts Less Restrictive State Law, May Be Used To Establish State Law Causes Of Action

On February 7, the U.S. Court of Appeals for the Sixth Circuit held that while the Protecting Tenants at Foreclosure Act (PTFA) provides no private cause of action, plaintiffs may use violations of the PTFA to establish...more

Legal Notebook - December 2013

In honour of the current Ashes cricket series (and given that, at the time of writing, there has just been a resounding victory by Australia in the First Test), we have elected to focus this edition of Legal Notebook on a...more

Ohio Appeals Court Affirms Dismissal Of City’s Public Nuisance Suit Against Banks

On March 21, the Court of Appeals of Ohio, Eighth Appellate District, affirmed a trial court’s dismissal of a suit by the city of Cleveland, which sought damages from several financial institutions involved in the creation of...more

Mortgagees Beware -- Appointment of a Receiver is the Preferred Course for Rental Property in Foreclosure

The recent case of Rojas v. Rubenstein, No. A-5755-10T2, 2012 N.J. Super. Unpub. LEXIS 2359, 2012 WL 4935498 (App. Div. October 18, 2012), focused attention on the relative liabilities of a court-appointed receiver and a...more

$193 Million RMBS Suit Against Countrywide Dismissed as Untimely

On January 10, Judge Mariana R. Pfaelzer of the United States District Court for the Central District of California dismissed a $193 million suit brought by mutual fund Asset Management Fund against several Bank of America...more

Diaz Reus Partner, Israel Reyes, Represents Landmark Hotel Owner In Suit Against German Bank

In a case with international financial implications, Casa Casuarina LLC, owner of a landmark Miami Beach resort property, is suing its mortgage holder German bank WestLB on multiple counts of alleged fraud. “We are...more

Invasion of Privacy in Condominiums

A recent case before the Ontario Court of Appeal dealing with the privacy of a Bank customer's personal information, may have some interesting applications for condominium corporations and property managers across...more

Too Little, Too Late For Plaintiff's Fraud-Based Mortgage Lawsuit

In Vaca v. Wachovia Mortgage Corporation, --- Cal.Rptr.3d ----, 2011 WL 3659938 (Cal.App. 4 Dist. 2011), the California Court of Appeal affirmed the dismissal of a fraud claim on statute of limitations grounds. In 2005, the...more

Mortgage Fraud in Miami, South Florida 2nd Highest in USA - But Are Con Artists That Rampant Here in Miami-Dade? No.

Mortgage fraud is a national problem that's getting more and more rampant in our area, according to Interthinx, a company that periodically releases its research analysis of national fraud numbers. Its warnings are...more

A New Front in Financial Institution Scrutiny — Treble Damage Threat Against HUD Lenders Based on Alleged Program-Level Failures

The Department of Justice has served notice that it intends to take aggressive action – and seek billion-dollar recoveries – against banks and residential mortgage lenders on a new front for conduct it alleges amounts to...more

2nd Circuit Sides with Bank on "Next Day" Availability Issue

This document provdes a link to & Mandell LLP v. Citibank, N.A., 632 F3d 793 (2nd Cir. 2011)(next dyy availability of funds by bank was a provisional advance of funds subjet to setoff rights of bank; UCC 4 governs)...more

Mortgage Fraud - Deceptive Trade Practices Demand Letter

The Texas Deceptive Trade Practices Act requires that before filing suit a plaintiff send to a prospective defendant a demand letter. Each letter is different, just as each case is different. I try to not just threaten the...more

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