Class Action › Mortgages

Bank of America Settles Class Action Brought By Mortgage Investors

Bank of America has agreed to settle a class-action lawsuit brought by investors who claimed they were misled by its Countrywide unit into buying risky mortgage securities. Bank of America acquired Countrywide Financial, a...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 19, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - CREDIT CARDS - Excerpt from Consumer...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 12, 2013

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

Corporate and Financial Weekly Digest - April 5, 2013

In this issue: - SEC Advisory Committee on Small and Emerging Companies Makes Recommendations - SEC Provides Guidance Regarding Social Media and Regulation Fair Disclosure (Regulation FD) - SEC Amends...more

Bill on Bankruptcy: Sigmund Freud, Marx Brothers, Bernie Madoff [Video]

March 27 (Bloomberg Law) -- There was no settlement afoot when U.S. District Judge Jed Rakoff put off a hearing on an effort by the trustee for Bernard L. Madoff Investment Securities LLC to block a $410 million settlement...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

Second Circuit Reinstates MBS Suit, Easing Standing Hurdle For Investors

On March 1, the U. S. Court of Appeals for the Second Circuit held that an investor plaintiff may be able to assert claims on behalf of a class for securities in which it had not invested, and additionally found that the...more

Mortgage Banking Update - March 08, 2013

In This Issue: - Kentucky County Clerks Cannot Sue MERS for Failure To Record Mortgage Assignments, Sixth Circuit Rules - Bipartisan Policy Center Proposes New Directions for National Housing Policy - FTC...more

Kentucky County Clerks Cannot Sue MERS for Failure to Record Mortgage Assignments, Sixth Circuit Rules

The U. S. Court of Appeals for the Sixth Circuit recently affirmed the district court’s dismissal of a putative class action filed against Mortgage Electronic Registration Systems (MERS), its parent company, and 15 financial...more

Sixth Circuit Affirms Fair Lending Class Certification Denial

On January 15, the U.S. Court of Appeals for the Sixth Circuit affirmed a district court’s denial of class certification sought by a proposed class of borrowers alleging that a lender’s mortgage loan pricing policy, which...more

Corporate and Financial Weekly Digest - January 25, 2013

In this issue: - CBOE Proposes to Amend Preferred Market Maker’s Continuous Quoting Obligations - FATCA Regulations Are Finalized - CFTC to Host Roundtable on “Futurization” of Swaps - CFTC Amends Order of...more

Mortgage Banking Update - January 25, 2013

In This Issues: - CFPB Generates Flurry of New Mortgage Banking Industry Rules - CFPB Issues Final ECOA Appraisal Rule - 20 State Agencies Adopt Uniform State MLO Testing - Mortgage Foreclosure Is Debt...more

Ninth Circuit Affirms Dismissal Of Unfair Competition Claims Over Teaser Rates

On January 9, the U.S. Court of Appeals for the Ninth Circuit affirmed a district court’s dismissal of a putative class action against a national bank over its adjustable rate mortgage disclosure and payment application....more

Class Decertification, Case Law Update – Campbell v. First American Title Insurance Company

A class action is a lawsuit where one or members of a class may sue or be sued as representative parties on behalf of all members. The class action must have the characteristics of commonality, adequacy, numerosity, and...more

McCarn v. HSBC USA, Inc.: A Federal Court Dismisses a Plaintiff's Attempt to Apply Antitrust-Conspiracy Principles to a Consumer...

On November 13, 2012, the U.S. District Court for the Eastern District of California, in McCarn v. HSBC USA, Inc., 2012 U.S. Dist. LEXIS 162257, issued an important decision rejecting as inadequate a plaintiff’s attempt to...more

Jenkins et al. v. McCalla Raymer, et al.

Upublished Eleventh Circuit Opinion Regarding Wrongful Foreclosure Claims in Georgia

In this unpublished opinion, the Eleventh Circuit holds that a homeowner cannot seek damages in a wrongful foreclosure action unless there has been an actual foreclosure sale, and an action for attempted foreclosure cannot be...more