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Mortgages › Countrywide

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Robins Kaplan LLP

Financial Daily Dose 2.20.2020 | Top Story: Fed Minutes Show Central Bank Happy With Economy, Worried About Coronavirus

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Newly released minutes from the Fed’s January meeting show central bankers preoccupied with global risks, including the still-growing economic impact of the coronavirus, while still taking a wait-and-see approach to any...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The DOJ has given Disney its official nod in its $71 billion bid for the entertainment assets of 21st Century Fox, contingent on Disney’s divestiture of Fox’s 22 regional sports networks (a condition all about Disney’s ESPN...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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While the Journal considers the ever-growing list of headaches for Khosrowshahi, including a new federal bribery probe over potential Uber FCPA violations....more

Kramer Levin Naftalis & Frankel LLP

Debt Dialogue: May 2017 - Ambac v. Countrywide: New York’s First Department Raises the Bar for RMBS Fraud Claims by Monoline...

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As litigation stemming from the U.S. subprime mortgage crisis continues, the legal framework governing the liability of participants in residential mortgage-backed securities (RMBS) securitizations continues to develop....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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An EU high court opinion yesterday about a trade deal with Singapore could throw yet another stumbling block in the way of Britain’s exit of the union. Read on for more on the intricacies of the EU division of competencies....more

Manatt, Phelps & Phillips, LLP

Bank of America Wins Reversal of FIRREA $1.27B Penalty

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A breach of contract is insufficient to also support a claim for fraud, the Second Circuit Court of Appeals has ruled, reversing a $1.2 billion verdict against Countrywide Home Loans in the process. What happened - ...more

Cadwalader, Wickersham & Taft LLP

M&A Update: New York Court of Appeals Rejects Extension of Common Interest Privilege to Merger Talks

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On June 9, 2016, a divided New York Court of Appeals in a much-anticipated ruling held that the attorney-client privilege can only be maintained for communications involving third parties in situations where litigation is...more

BakerHostetler

Reversal of Countrywide Fraud Verdict a Reminder of Government’s Heavy Burden of Proof

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On May 23, 2016, the U.S. Court of Appeals for the Second Circuit reversed a jury’s finding of civil fraud against Countrywide Home Loans and other lenders, finding that the government had failed to prove fraud in...more

Carlton Fields

Real Property & Title Insurance Update: Weeks Ending May 13 & May 20, 2016

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REAL PROPERTY UPDATE - Contracts/Personal Liability: official title of “President” underneath signor’s signature on contract did not shield individual from personal liability because contract language reflected...more

Burr & Forman

I Meant it at the Time: Second Circuit Reverses $1.2BN FIRREA Judgment

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It’s hornbook law that a later intentional breach of contract, alone, doesn’t equal promissory fraud. Holding it therefore cannot establish mail or wire fraud, the Second Circuit reversed the Government’s $1.2 Billion FIRREA...more

Carlton Fields

Real Property, Financial Services & Title Insurance Update: Week Ending January 22, 2016

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REAL PROPERTY UPDATE - Foreclosure/Condition Precedent: providing a notice of the assignment of mortgage loan, as required by section 559.715, Florida Statutes, is not a condition precedent to filing a mortgage...more

Orrick - Finance 20/20

FDIC Sues BNY Mellon For Alleged Failure As Trustee of RMBS

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On August 19, 2015, the Federal Deposit Insurance Corp., acting as receiver for Guaranty Bank, filed suit against Bank of New York Mellon Corp. in New York federal court, alleging that BNY breached its duties as trustee of 12...more

Carlton Fields

Real Property, Financial Services & Title Insurance Update: Weeks Ending May 1 & 8, 2015

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Foreclosure: trial court abused its discretion in dismissing foreclosure action with prejudice, cancelling substantial debt, and denying lender ability to refile a foreclosure action without making finding of facts as...more

Snell & Wilmer

Real Estate Lien Priority Case - Effect of Subordination Agreement on Junior Liens

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In a recent decision, the Utah Supreme Court addressed a matter of first impression in Utah, namely, whether a subordination agreement between two senior lenders, which reversed the priority of their respective liens against...more

Burr & Forman

Dodd-Frank News: April 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

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The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

Bilzin Sumberg

Fraud Verdict Against Countrywide & BofA Upheld

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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

Bradley Arant Boult Cummings LLP

No Lawsuit Required to Rescind: U.S. Supreme Court Clarifies Mortgage Rescission Notification Requirements for Borrowers under...

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Background of Notice versus Lawsuit Issue - The Truth in Lending Act (“TILA”), as implemented by Regulation Z, provides borrowers with a powerful tool: the right to rescind certain mortgage loan transactions. This...more

Snell & Wilmer

Supreme Court Unanimously Resolves Circuit Split Regarding Notice Requirement for Truth in Lending Act Right of Rescission

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In Jesinoski v. Countrywide Home Loans, Inc., decided January 13, 2015, the United States Supreme Court resolved a circuit split and clarified that borrowers need not file a complaint in order to invoke their right to rescind...more

Holland & Knight LLP

SCOTUS Ruling Makes it Easier for Borrowers to Rescind Home Loan Under Truth in Lending Act

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On January 13, 2015, the U.S. Supreme Court unanimously ruled that borrowers may reserve and effect their right to rescission by simply notifying creditors of their intent to rescind a loan within three years after receiving...more

Baker Donelson

Supreme Court Resolves Circuit Split Over TILA Rescissions Limitations Period

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The United States Supreme Court ruled yesterday that a borrower relying on the Truth in Lending Act (TILA) to rescind his mortgage loan need only mail written notice of his intent to his lender within three years of the...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides Jesinoski v. Countrywide Home Loans, Inc.

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On January 13, 2015, the U.S. Supreme Court held that borrowers exercising their right to rescind a loan under the Truth in Lending Act must provide written notice to their lender within the three-year rescission period but...more

Foley & Lardner LLP

The Supreme Court Just Held That TILA Rescission Is Accomplished With Notice Alone

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Until today, courts were split over what steps borrowers must take to rescind a home loan. Some courts had ruled that a borrower simply had to send a rescission notice to his creditor within three years after taking out a...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review - June 3, 2013

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In This Issue: CFPB Final Rule Amendments to Ability to Repay and QM Rule; Extension of Loan Modification Programs; Freddie Mac $1 Billion Performing Modified Loan Securitization; FinCEN Guidance on Virtual Currency...more

Orrick - Finance 20/20

Court Denies in Part Motions to Dismiss FHFA’s Claims Against Countrywide and Various Underwriters

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On March 15, Judge Mariana Pfaelzer of the United States District Court for the Central District of California denied in part motions to dismiss brought by Countrywide, various individuals and various underwriters in...more

Orrick - Finance 20/20

$193 Million RMBS Suit Against Countrywide Dismissed as Untimely

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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

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