Bilzin Sumberg Mortgage Repurchase Group

1450 Brickell Avenue 23rd Floor
Miami, Florida 33131-3456, United States

  • 305.374.7580
  • 305.374.7593

Regulators Increase Scrutiny of Wall Street Lending

Federal bank regulatory agencies are significantly increasing their scrutiny of Wall Street bank lending, moving from annual reviews to a system of monthly audits in a major effort to curtail aggressive underwriting practices…more
| Administrative Law, Finance & Banking

In The Cross-Hairs? Protecting Your Company Against Consumer Financial Protection Bureau Investigations and Investors' Mortgage Buyback Claims [Video]

Watch an in-depth webinar presented by Litigation Partner Philip R. Stein, about the Consumer Financial Protection Bureau's attempts to expand its jurisdiction and authority over consumer finance companies and financial…more
| Finance & Banking, Real Estate - Residential, Real Estate - Commercial

Banks May Be Required to Increase Reserves

The Federal Reserve is expected to require the biggest U.S. banks to increase reserves in an effort to prevent the possibility of another financial crisis. Federal Reserve Governor Daniel K. Tarullo is scheduled to testify…more
| Finance & Banking

J.P. Morgan’s $4.6 Billion in Legal Reserves

In a regulatory filing filed with the U.S. Securities and Exchange Commission and released on Monday, August 4, J.P. Morgan Chase & Co. announced that it has $4.6 billion in legal reserves. Believe it or not, this massive number…more
| Finance & Banking, Securities Law

Former Analyst Claims Moody’s Falsely Inflated Ratings

Former Moody’s analyst, Ilya Kolchinsky, has accused the credit rating powerhouse of overstating its ratings for countless toxic mortgage-backed securities that caused the financial meltdown in 2008, misleading investors and…more
| Labor & Employment Law, Finance & Banking, Real Estate - Residential, Securities Law

Mortgage Loans: Deutsche Bank v. Quicken Loans

We previously posted about ACE Securities Corp. v. DB Structured Products, Inc., 977 N.Y.S.2d 229, 231 (N.Y.A.D. 1st Dept. Dec. 19, 2013), which is a critical ruling out of New York’s intermediate state appellate court. In that…more
| Civil Procedure, Commercial Law & Contracts, Finance & Banking, Real Estate - Residential, Securities Law

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. (“BofA”)…more
| Civil Remedies, Finance & Banking, Consumer Protection, Real Estate - Residential, Securities Law

Servicer’s Error Leads to $16 Million Award

Kate Berry reported in American Banker and SourceMedia’s National Mortgage News on how a $616 servicing error snowballed into a $16 million jury verdict. It was reported that a jury last month awarded $514,000 in compensatory…more
| Civil Remedies, Finance & Banking, Real Estate - Residential

Citigroup Settles with DOJ for $7 Billion

Citigroup announced last week that it will pay $7 billion to end an investigation by the U.S Department of Justice into misconduct related to its mortgage securitization practices. The blockbuster settlement came days before DOJ…more
| Civil Remedies, Finance & Banking, Business Torts, Real Estate - Residential, Securities Law

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
| Civil Remedies, Finance & Banking, Consumer Protection, Real Estate - Residential

Main Street Cashes $3.1 Billion in Checks from Wall Street

With the mortgage crisis almost a decade in the rear-view mirror, some harmed homeowners are just now starting to see reparations for the transgressions of the country’s largest financial institutions. …more
| Civil Remedies, Finance & Banking, Personal Injury, Real Estate - Residential

Big Banks Argue that Shorter Limitations Period Should Apply to MBS Claims

Recently, the defendants in FDIC as Receiver for Colonial Bank v. Chase Mortgage Finance Group, et al (Civ No. 1:12-cv-06166) filed a motion for judgment on the pleadings, asking the court to dismiss as time-barred the…more
| Civil Procedure, Finance & Banking, Real Estate - Residential, Securities Law

OIG Urges FHFA To Sue Over Force-Placed Insurance

The Office of Inspector General (“OIG”) for the Federal Housing Finance Agency (“FHFA”) is urging the FHFA to sue its servicers and lender-placed insurance (“LPI”) providers because Fannie Mae and Freddie Mac have suffered…more
| Civil Remedies, Finance & Banking, Insurance, Real Estate - Residential

Miami Hits JPMorgan with Lawsuit over Discriminatory Lending Practices

The city of Miami recently sued JPMorgan Chase & Co. in Florida federal court alleging that JPMorgan violated the Federal Fair Housing Act (“FHA”) by engaging in a “continuing pattern” of discriminatory mortgage lending…more
| Civil Rights, Finance & Banking, Real Estate - Residential

FHFA’S 2013 Report Shows Record Income for Fannie Mae and Freddie Mac, But Earnings Are Likely to Fall

On Friday, Federal Housing Finance Agency (FHFA) released its 2013 Report to Congress, revealing recent GSE milestones but anticipating future problems. The annual report is statutorily-required under the Federal Housing…more
| Finance & Banking, Consumer Protection, Real Estate - Residential
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Areas of Practice
  • Finance & Banking
  • Litigation
  • Real Estate
  • Securities Law
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  • Florida
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