News & Analysis as of

Summary Judgment Affirmed by Sixth Circuit in Broker Commission Price-Fixing Litigation

On November 13, 2014, the Sixth Circuit Court of Appeals upheld the dismissal of price-fixing claims against two home brokerage service firms in Kentucky, McMahon Co. and HomeService of America, Inc. Hyland, et al. v....more

Defendants Granted Limitations-Based Summary Judgment In Captive Reinsurance Class Action

A putative class of mortgage consumers sued Flagstar Bank and its captive reinsurer alleging that they engaged in an illegal “kickback” scheme with private mortgage insurers, which scheme artificially inflated the price of...more

The Washington Court of Appeals Strengthens the Ability of Lenders to Obtain Summary Judgment Against Commercial Guarantors on...

Post-foreclosure deficiency lawsuits against guarantors of commercial loans can be expensive and time consuming — particularly when measured against the sometimes uncertain collectability of the deficiency judgment. Under...more

The Business Records Exception to the Hearsay Rule

When a bank assigns a mortgage to another bank, the assignor typically provides a loan payment history to the assignee as part of the transfer. If the assignee later brings suit to foreclose the mortgage, it is typical to...more

Mortgage buyer’s thin paper trail sufficient to avoid summary judgment in borrowers’ favor

Disastrous results can befall a financial institution that buys a mortgage loan but does not obtain or keep adequate documentation related to the purchase. Yet over the past several years, many mortgages have exchanged hands...more

Managing Litigation Cost – Discovery and Summary Judgment Motions

This article is the second of a series and is excerpted from my book entitled Mortgage Foreclosure and Loan Collection: A Practical Guide for Lenders which is now available at Amazon.com. Here, we discuss the impact of the...more

CFC Grants Summary Judgment in Takings Case on Motion for Reconsideration

Anaheim Gardens v. United States involved plaintiffs who filed suit in the U.S. Court of Federal Claims claiming that the Government effected a taking of their contractual right to prepay government-insured mortgages on...more

Defendants In CFPB Enforcement Action Renew Challenge To Validity Of Director’s Appointment

On February 11, a law firm and related parties sued by the CFPB for allegedly deceiving consumers through a network of mortgage loan modification businesses filed a brief in which they renewed a challenge to the CFPB...more

A Federal Court's Lifeline to the Servicing Industry: No Physical Pain, no Negligent Servicing Claim

Keith Andress, Natalie Bolling and Stephen Pudner of Baker Donelson's Birmingham office were recently successful in having a mortgagor's claims seeking punitive damages against a major mortgage servicing company dismissed...more

Appellate Notes: Recent Decisions of the Connecticut Supreme and Appellate Courts - January 2013

In This Issue: -AC31211 - Aguinaldo v. Warner -AC33771 - Thompson Gardens West Condominium Assn., Inc. v. Masto -AC33850 - Unifund CCR Partners v. Schaeppi -AC33400 - Samnard Associates, LLC...more

North Carolina Court of Appeals Allows Borrower to Take Breach of Fiduciary Duty Claims Against Lender to a Jury

In what may be a first for a North Carolina appellate court, the North Carolina Court of Appeals has reversed the entry of summary judgment for a lender on a borrower’s breach of fiduciary claim. In Dallaire v. Bank of...more

State Law Update: New Jersey Creates Summary Foreclosure Process For Vacant And Abandoned Properties

On December 3, New Jersey Governor Chris Christie signed SB 2156, which authorizes lenders to bring summary actions to foreclose mortgages on vacant and abandoned residential properties, and grants state courts the authority...more

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