Bilzin Sumberg Mortgage Repurchase Group

BofA’s Inconsistent Positions

Bank of America recently moved to dismiss a lawsuit filed by Ambac Assurance Corp. in New York state court, alleging $600 million in damages for fraudulent inducement in connection with payments it made under policies insuring…more
| Civil Procedure, Commercial Law & Contracts, Finance & Banking, Securities Law

Fraud Verdict Against Countrywide & BofA Upheld

BofA’s “hustling” attempt to overturn a $1.27 billion judgment against it and Countrywide—along with the individual defendant identified in the next paragraph, the “Defendants”—in the U.S. District Court for the Southern…more
| Business Torts, Civil Procedure, Civil Remedies, Finance & Banking

Huge Settlements Between S&P, Government

2015 is leaving Standard and Poor’s (S&P) quite a bit poorer. Yesterday, the major credit rating agency agreed to pay $1.375 billion to resolve lawsuits brought against it by the U.S. Department of Justice and attorney generals…more
| Commercial Law & Contracts, Finance & Banking, Real Estate - Residential, Securities Law

Newly Passed Bill May Impact Dodd-Frank Act

The House of Representatives passed legislation that could loosen some of the restrictions imposed by Dodd-Frank on big banks. The bill, Promoting Job Creation and Reducing Small Businesses Burden Act, passed by a margin of…more
| Business Organizations, Commercial Law & Contracts, Elections & Politics, Finance & Banking, Securities Law

Supreme Court Eases Requirements for Homeowners Rescinding Mortgages

The U.S. Supreme Court recently held in Jesinoski v. Countrywide Home Loans, Inc. that borrowers exercising their right to rescind mortgages under the Truth in Lending Act (“TILA”) only need to provide written notice to…more
| Commercial Law & Contracts, Finance & Banking, Consumer Protection, Real Estate - Residential

Fighting Back Against CFPB Demands

An increasing number of banks, mortgage lenders, auto finance companies and other financial services industry participants are dealing with inquiries, investigations and actual or threatened legal claims from the Consumer…more
| Commercial Law & Contracts, Finance & Banking, Consumer Protection, Real Estate - Residential

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. Alayne…more
| Commercial Law & Contracts, Criminal Law, Finance & Banking, Real Estate - Residential, Securities Law

BofA Underwater Mortgage Cases Hit Supreme Court

The U.S. Supreme Court will hear two cases brought by Bank of America regarding whether a second mortgage on an underwater property can be voided during Chapter 7 bankruptcy. Both cases involve Florida homeowners who sued to…more
| Bankruptcy, Civil Procedure, Finance & Banking, Real Estate - Residential

Freddie Mac’s Index Shows Housing Market Improvement

According to Freddie Mac, things are looking up for the South Florida housing market. The August Multi-Indicator Market Index (MIMI) ratings, released last Friday, awarded the Miami Metro Area a score of 69.2. While Miami is…more
| Finance & Banking, Real Estate - Residential

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
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Contact

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

  • 305.374.7580
  • 305.374.7593

Areas of Practice
  • Finance & Banking
  • Litigation
  • Real Estate
  • Securities Law
Locations
Other U.S. Locations
  • Florida
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