Robo-Signing

News & Analysis as of

Robo-Signing Still Making Headlines As Wells Fargo Settles Another Lawsuit

“Robo-signing,” the term coined to refer to bank officials who quickly approved mortgage foreclosure documents without actual knowledge of the validity of the grounds for foreclosure, has been spurring lawsuits and making...more

Nevada Judge Sanctions State AG In Robosigning Suit

On January 30, Nevada’s Clark County District Court ordered the State AG to pay attorneys’ fees in connection with a mortgage servicing vendor’s attempts to obtain discovery in the state’s case alleging the company...more

The Specter of Zombie Foreclosures

Among other practice areas, our firm has a focus on residential real estate. We offer clients skilled assistance when buying or selling real property and we work with investors and developers interested in obtaining...more

CFPB Takes Enforcement Action Against Payday Lender

The CFPB announced its first public enforcement action against a payday lender—a consent order alleging, among other things, unfair and deceptive acts or practices in connection with affidavits. According to the consent...more

Federal District Court Compels Arbitration Of Debt Collection Robosigning Suit

On July 12, the U.S. District Court for the Southern District of New York held that members of a putative class must arbitrate their claims against creditors for allegedly unlawful debt collection practices individually....more

State v. Brown Affords Managers in the Mortgage Processing Industry a Cautionary Tale

In Brief: - Significant jail time can result from overseeing and directing unauthorized robo-signing activities. - Victims of unauthorized robo-signing include residential mortgage servicers, in addition to...more

What’s at the Bottom of the ‘Robosigning’ Scandal?

The problematic practice of robosigning – whereby banks and other lenders improperly foreclosed on properties through formulaically processing foreclosure documents – has been much in the news over the past couple of years....more

Mortgage Banking Update - March 21, 2013

In This Issue: - Uniform State Test Implementation Nearing - Mortgage Servicer's Alleged Failure To Be Licensed Subjects Company to Claims under State and Federal Debt Collection Statutes - Sixth Circuit...more

Taking The Easy Way Out Again: Recent OCC/Big Banks Settlement

Any follower of this blog or the mortgage crisis at large will — sadly — not be surprised by the seemingly never-ending news of foreclosure misdeeds by the nation’s biggest banks. Recent news reveals a particularly...more

Sixth Circuit Rejects Nationwide Settlement of Robo-Signing Class Actions

A nationwide settlement of three class actions involving claims that a creditor’s practice of using “robo-signed” affidavits in debt collection actions violated the Fair Debt Collection Practices Act (FDCPA) has been...more

Lenders Must Comply with New Foreclosure Requirements in Illinois Courts

Mortgage lenders in Illinois are required to use the judicial process to obtain collateral and enter deficiency judgments against borrowers. In February 2013, Illinois crafted two new rules adding additional requirements to...more

Disproportionately Favoring the Named Plaintiffs Kills Settlement, Says Sixth Circuit

The Sixth Circuit recently limited defendants’ ability to craft settlements that disproportionately favor the class representatives. Vassalle v. Midland Funding LLC, — F.3d –, 2013 WL 673517 (6th Cir. Feb. 26, 2013). Though...more

Illinois Supreme Court Issues New Procedural Rules for Foreclosures

On February 22, 2013, the Illinois Supreme Court adopted a set of new procedural rules that will impact both residential and commercial foreclosures in Illinois. The new rules are scheduled to go into effect as early as March...more

State AGs Announce Multistate Robo-Signing Settlement

On January 31, the state attorneys general (AGs) for 45 states obtained an agreement from a mortgage servicing and foreclosure vendor, and its former subsidiary, to resolve allegations that the company “robo-signed”...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - February 1, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - CREDIT CARDS - E-COMMERCE - PRIVACY/DATA SECURITY -...more

Florida Gets $8.6 Million in New $120 Million National Robo-Signing Settlement with Lender Processing Services

This morning, Florida's Attorney General Pam Bondi announced that Florida - along with another 45 state Attorneys General have made a bargain with Lender Processing Services, Inc. (LPS) which ends the investigations in...more

Ringing in the New Year in 2013: California’s Homeowner’s Bill of Rights Law Takes Effect

Dubbed as the “Homeowner’s Bill of Rights,” on July 11, 2012, California Governor Jerry Brown signed into law AB 278/SB 900 marking the first U.S. state to adopt into law the residential mortgage foreclosure reform principles...more

Program Director and Therapist Convicted In $205M Mental Healthcare Fraud

Just over two years after the raid on the Miami headquarters of mental healthcare chain American Therapeutic Corporation (American Therapeutic), a former program director and therapist in the Ft. Lauderdale office of the...more

Complete Foreclosures Plunge 68%, But Foreclosure Inventory Remains Stable

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today....more

One or more of the assignments in the chain of title for my mortgage was signed by a “known robo-signer.” Can I challenge a...

If you are facing foreclosure and plan to defend against it in litigation, or have relied on sources stating a "robo-signer" was involved in the chain of title of your mortgage, or if you want to raise any other type of...more

Wrongful Foreclosure - A Guide to Foreclosure Fraud

This foreclosure e-book is a complimentary publication offered by our law firm to homeowners to explain what has happened in the housing market over the last several years. We have compiled most of the information from our...more

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