A New World for Mortgage Banking – What You Need to Know About the CFPB’s Final Mortgage Servicing Rules
Real Property Update - Foreclosure / Surplus: Purchaser of real property per an agreement for deed was not the record owner and could not claim foreclosure sale surplus – Corey v. Neuffer, No. 2D19-1083 (Fla. 2d DCA Mar....more
Real Property Update - Due Process: Trial court violated developer’s due process rights by considering and ruling upon developer’s motion to quash service of process, which was not set for hearing, despite developer’s...more
In 2005 and 2006, Christopher Blake and James Orkis took out mortgages from JP Morgan to buy homes. Then in 2013, they filed a class action against JP Morgan under the Real Estate Settlement and Procedures Act (RESPA),...more
Real Property Update- Landlord-Tenant: rider to a lease, containing clear and unambiguous language, controlled over the terms in the lease and limited the increase in the operating expenses charged to the tenant by the...more
Real Property Update - Foreclosure / Res Judicata: res judicata did not apply where later foreclosure action was based on different period of default than the prior action on same loan - Bullock v. Bayview Loan Servicing,...more
Real Property Update - Sanctions / Dismissal: trial court abused discretion in dismissing bank’s foreclosure action; record established bank complied with discovery orders on which the motion for dismissal/sanctions was...more
Real Property Update - Restrictive Covenants: trial court erred by failing to provide injunctive relief in favor of homeowner as it related to trees planted in common area in violation of restrictive covenants - McIntosh...more
Real Property Update - • Foreclosure / Reverse Mortgage / Condition Precedent: bank failed to establish that the subject property was not the principal residence of surviving co-borrower under its reverse mortgage, a...more
On December 7, 2018, a federal court in Maryland issued an important ruling in a Real Estate Settlement Procedures Act (“RESPA”) case (“Baehr”), granting a defense motion for summary judgment. The court dismissed the action...more
For decades, consumer protection has led to copious amounts of litigation in West Virginia. In the past several years, the types of lawsuits filed under the debt collection provisions of the West Virginia Consumer Credit and...more
REAL PROPERTY UPDATE - Foreclosure/Statute of Limitations & Res Judicata: trial court erred in finding that bank's foreclosure action was barred by statute of limitations and res judicata - U.S. Bank Nat'l Ass'n, etc. v....more
American Banker has reported that that CFPB is planning to dismiss its lawsuit against PHH. According to the American Banker report, the CFPB and PHH have issued a joint statement in which the parties confirm that they have...more
A federal district court has dismissed with prejudice a Real Estate Settlement Procedures Act (RESPA) class action filed against JPMorgan Chase Bank N.A. and related entities on statute of limitations grounds a year after...more
REAL PROPERTY UPDATE - Condition Precedent: trial court properly rejected motion to dismiss for failure to satisfy condition precedent of pre-litigation non-binding arbitration, required by Chapter 718, Florida Statutes,...more
On January 31, the U.S. Court of Appeals for the D.C. Circuit issued a plurality opinion en banc that confirmed the constitutionality of the Consumer Financial Protection Bureau’s (“CFPB”) governance by a sole Director, while...more
In this putative class action, plaintiffs alleged unlawful practices related to mortgage insurance practices, including a violation of the Real Estate Settlement Procedures Act of 1974 (“RESPA”). ...more
While the court opinion on the constitutionality of the CFPB’s structure was long awaited, its decision related to RESPA affords the mortgage industry much-needed clarity. ...more
On January 31, 2018, the U.S. Court of Appeals for the D.C. Circuit (D.C. Circuit), sitting en banc, issued its long-awaited decision in PHH Corp. v. CFPB, holding that the provision of the Dodd-Frank Act shielding the single...more
In a long-awaited constitutional decision regarding the Consumer Financial Protection Bureau (“CFPB”), the full D.C. Circuit Court of Appeals today in PHH v. CFPB reversed a prior ruling by a three-judge panel that the CFPB...more
REAL PROPERTY UPDATE - Standing/Foreclosure: pursuant to Florida Rule of Procedure 1.260, the assignee of a note during pendency of a foreclosure acquires standing of original plaintiff lender - Spicer v Ocwen Loan...more
REAL PROPERTY UPDATE - Receiver/Barton Doctrine: individual could not bring negligence action against discharged receiver of commercial property until individual first obtained leave to do so from the court that appointed...more
The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) is a U.S. government agency created by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The CFPB is the first federal agency tasked solely with the...more
The District Court for the Northern District of Illinois dismissed a complaint filed by Plaintiff-Rehabilitator, the Illinois Director of Insurance, against Defendant-Reinsurer, Twin Rivers, alleging breach of contract,...more
REAL PROPERTY UPDATE - - Constructive Notice: a memorandum of agreement that is recorded in the official records of the county in which the property is located and refers to an unrecorded agreement entered into by the...more
A district judge in the Northern District of Illinois has dismissed all claims brought by the Illinois Director of Insurance, acting as rehabilitator for Triad Guaranty Insurance Corporation and Triad Guaranty Assurance...more