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Standing: An Affirmative Defense To Mortgage Foreclosure

To have standing to foreclose, it must be demonstrated that the plaintiff holds the note and mortgage in question. Mazine v. M & I Bank, 67 So. 3d 1129, 1132 (Fla. 1st DCA 2011). The plaintiff must prove that it had standing...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

Widow Foreclosure Catch-22  [Video]

Losing a spouse is a very difficult time for most people. Imagine how difficult it would then be to lose the house you shared to foreclosure. Banks are under legal obligation to help avoid foreclosure by using loan...more

California District Court Unseals FCA Complaint Filed Against Numerous Banks

Last week, after the government declined to intervene in the case, the U.S. District Court for the Central District of California unsealed a qui tam False Claims Act (FCA) complaint filed by a whistleblower in April 2012...more

Federal Reserve Announces Another Major Cash Settlement with Mortgage Servicers: $8.5 Billion to be Paid in Cash, Used to Help...

In a joint press release issued by the Federal Reserve and the Office of the Comptroller of the Currency, news this past week is that 10 mortgage servicers around the country have entered into a settlement agreement with the...more

Mortgage Foreclosure Settlement

We have long been skeptical of most loan “repurchase” or “indemnification” demands made by big banks against the third-party originators (i.e., correspondent lenders) who sold those loans to the big banks many years ago....more

Barry Fagan v Wells Fargo Bank N.A.

Notice of "Material Violations" under California's Homeowners Bill of Rights pursuant to Civil Code Sections, 2923.55, 2924.12, &...

Barry Fagan vs. Wells Fargo Bank, N.A. et al Re: Notice of "Material Violations" under California's Newly Enacted Homeowners Bill of Rights pursuant to California Civil Code sections, 2923.55, 2924.12, and...more

Action Plans for Residential Mortgage Servicing and Foreclosure Deficiencies

On February 27, the Fed released action plans from Bank of America, Citigroup, EverBank, JPMorgan Chase, MetLife, PNC, SunTrust, US Bancorp, and Wells Fargo to correct deficiencies in residential mortgage loan servicing and...more

InfoBytes Special Alert: Federal and State Officials Announce Mortgage Servicing Settlement

This morning, U.S. Attorney General Eric Holder, HUD Secretary Shawn Donovan, Iowa Attorney General Tom Miller, and several other state and federal officials jointly announced an approximately $25 billion agreement in...more