News & Analysis as of

Indemnification Mortgages

Bilzin Sumberg

No, We Are Still Not Done With Indemnification Claims Arising from 2000s Residential Mortgages

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If you thought we were finally done with indemnification litigation focused on residential mortgages originated before the financial crisis of 2007-2008, think again. Over the past year, the Federal Deposit Insurance...more

Bilzin Sumberg

Still Litigating the 2007-08 Financial Crisis: The Claims Keep Coming

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One would think that, as we approach 2021, litigation related to residential mortgage loans originated and sold well over a decade ago would be ancient history. Nevertheless, some suits filed years ago remain active, and,...more

Winstead PC

SMU Annual Texas Survey - Article 13, Vol. 6

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This article covers cases from Southwestern Reporter (Third) volumes 560 through 580 and federal cases during the same period that the authors believe are noteworthy to the jurisprudence on the applicable subject. This...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending September 20, 2019

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Real Property Update - Foreclosure / Doc Stamps: failure to pay documentary stamp and intangible taxes on increased principal balance under loan modification rendered final foreclosure judgment unenforceable - Schroeder v....more

Bilzin Sumberg

New Second Circuit Statute of Limitations Ruling A Benefit to Loan Originators, Brokers

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As originators and brokers of mortgage loans continue to get served with new lawsuits (or threatened with potential suits) related to loans that they conveyed to aggregators prior to the financial crisis of 2008, questions...more

Patterson Belknap Webb & Tyler LLP

Post-Confirmation Jurisdiction of the Bankruptcy Court: “Close Nexus” or “Conceivable Effect”?

In January 2014, Lehman Brothers Holdings, Inc. (“Lehman”) settled claims filed by Fannie Mae and Freddie Mac arising out of each of their purchases of mortgage loans from Lehman and its affiliates. Lehman then sought to...more

Bilzin Sumberg

Chase Lets Loose a Barrage of New Indemnification Demand Letters

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Ten years after the financial crisis, mortgage companies and regional/local banks are still getting hit with new breach of contract and indemnification claims related to loans sold before the crisis....more

Bilzin Sumberg

Lehman RMBS Settlement Likely to Spur Additional Claims

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On March 8, the Bankruptcy Court for the Southern District of New York concluded a lengthy “claims estimation” trial to determine the appropriate final settlement price for a resolution of lawsuits filed on behalf of...more

Bilzin Sumberg

The Eighth Circuit Raises the Bar for Would-Be Indemnitees

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Here is a situation that comes up quite a bit in the world of business contracts containing indemnification provisions, and in the insurance industry as well. First, a party (“Party A”) gets sued, or threatened with a suit,...more

Carlton Fields

Real Property & Title Insurance Update: Week Ending August 18 & 25, 2017

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Foreclosure: general reservation of jurisdiction in a foreclosure judgment is very limited, and certainly does not give trial court jurisdiction to eliminate a lien more than three years after Final Judgment of Foreclosure...more

Carlton Fields

Real Property & Title Insurance Update: Week Ending May 19 & 26, 2017

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Real Property Update - Foreclosure/Standing/Lost Note: if plaintiff did not have right to enforce note when lost, plaintiff should present evidence of assignment from payee to plaintiff or affidavit of ownership - ...more

Bilzin Sumberg

New Wave of Lehman Litigation Appears to Be Imminent

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Thousands of mortgage lenders across the country either recently received, or will soon be receiving, this document from Lehman Brothers Holdings, Inc. (LBHI). It is a notice of a motion to approve a proposed settlement of...more

Goodwin

FHA Announces Final Revisions to Loan-Level Certification Form

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On March 15, 2016, the Federal Housing Administration (FHA) announced final changes to its loan-level certification form, 92900-A HUD/VA Addendum to the Uniform Residential Loan Application. The announcement represents...more

Bilzin Sumberg

Big Win for Loan Originators/Sellers in Federal Appeals Court

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Six victories that clients of ours had won over Lehman and Aurora in the U.S. District Court for the District of Colorado got affirmed on January 27 by the Tenth Circuit Court of Appeals in Denver after hotly-contested rounds...more

Carlton Fields

Real Property, Financial Services & Title Insurance Case Law Update

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Conditions Precedent: summary judgment precluded by disputed issues of fact as to extent insured parties sufficiently complied with provisions of homeowners’ insurance policy – Solano v. State Farm Florida Insurance Co., No....more

Foley & Lardner LLP

Florida Foreclosure Laws Affected by Governor Scott's Signing of HB 87

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On June 7, 2013, Florida Gov. Rick Scott signed HB 87, affecting the state’s foreclosure laws. By its terms, the statute is effective immediately. Below are some of the highlights...more

Buchalter

Closing Protection Letters: Overlooked Indemnity Coverage For Common Foreclosure Defense Claims

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Mortgage lenders are all too familiar with borrowers’ assertions that they did not receive two properly dated copies of the Truth-In-Lending Act (“TILA”) mandated Notice of Right to Cancel form (“NORTC”) at closing. Under...more

Bilzin Sumberg

Big Banks Fail 2012 Fannie Mae Star Program

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According to a report released Tuesday by Fannie Mae, the big banks who love to act like “injured innocents” when it comes to making mortgage repurchase and indemnification demands on loan originators had their own...more

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