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Conflict of Laws Finance & Banking Residential Real Estate

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Ballard Spahr Attorneys Weigh in on Lawsuit Alleging Collection of Illegal Finder's Fees

by Ballard Spahr LLP on

Last month, Ballard Spahr attorneys Gary C. Tepper and Daniel J. Tobin filed an amicus brief for the Mortgage Bankers Association in the U.S. Court of Appeals for the Fourth Circuit in Petry et al. v. Prosperity Mortgage Co.,...more

HUD Rule Allowing Lenders To Demand Immediate Reverse Mortgage Repayments from Widowers Violates Federal Law, Court Holds

by Ballard Spahr LLP on

A Washington, D.C., District Court ruled recently that a Housing and Urban Development (HUD) regulation allowing lenders to demand that widowers immediately repay reverse mortgage loans upon the death of their spouses...more

HOLA Does Not Preempt Fraud Claims against Mortgage Loan Servicer, California District Court Rules

by Ballard Spahr LLP on

The Southern District of California recently held that claims against a mortgage loan servicer are not preempted by the Home Owners Loan Act (HOLA) when they rely on "general allegations of misrepresentation" and are only...more

Dodd-Frank News: July 2013: Dodd-Frank Wall Street Reform And Consumer Protection Act Update

by Burr & Forman on

In This Issue: - Recent Cases ..Dodd-Frank Act Amendments to RESPA ..Amendments to Preemption Standards ..Whistleblower Protection ..SEC Final Rule Pursuant to Dodd-Frank Act Vacated ...more

More on new disparate impact suit against HUD

by Ballard Spahr LLP on

Last week, we reported that a lawsuit was filed on June 26 in federal district court in Washington, D.C. challenging HUD’s final rule formalizing its use of disparate impact liability under the Fair Housing Act (FHA)....more

Florida Supreme Court Declares "Superpriority" Municipal Liens Invalid

It has become increasingly common in recent years for Florida municipalities to enact local ordinances granting so-called “superpriority” status to liens for municipal assessments. These types of ordinances typically state...more

Financial Services Report - Quarterly News, Summer 2013

by Morrison & Foerster LLP on

In This Issue: Arbitration Report; Bureau Report; Privacy Report; Mortgage Report; Operations Report; Preemption Report; and Beltway Report. Excerpt from Arbitration Report: Ninth Circuit Punts...more

Dodd-Frank News - May 2013: Dodd-Frank Wall Street Reform And Consumer Protection Act Update

by Burr & Forman on

In This Issue: - Introduction - Recent Cases ..Amendments to Preemption Standards ..TILA Statute of Limitations ..Dodd-Frank Amendments to RESPA ..Whistleblower Protection ..Say-on-Pay...more

Florida to Government: Your Lien Doesn't Foreclose This Old Mortgage

by Baker Donelson on

The Florida Supreme Court has ruled that cities cannot create ordinances that subject prior recorded mortgages to their subsequently recorded county or governmental liens, because it conflicts with Florida's state statutes on...more

Sherzer v. Homestar Mortgage Services: The Third Circuit Takes Sides in a Circuit Split Over How a Borrower Exercises Rescission...

In a recent decision, the Third Circuit took sides in a split between U.S. Circuit Courts of Appeal over what action borrowers must take to exercise their right to rescind a loan under the Truth in Lending Act (TILA). It...more

Valuation of Common Areas for Property Tax Purposes

by Snell & Wilmer on

Originally published in the September/October 2012 30th Anniversary Issue of The Journal of State Taxation. James M. Susa focuses on the tax valuation of common areas within a planned community, noting that, while most...more

The Tenth Circuit holds that ability to repay is not a pleading requirement for a TILA rescission claim

The U.S. Court of Appeals for the Tenth Circuit held that a TILA rescission claim is not subject to dismissal on an initial motion to dismiss for failure to expressly plead the ability to repay loan proceeds. The U.S....more

Financial Services Report -- Spring 2012

by Morrison & Foerster LLP on

In this issue Beltway Report; Bureau Report; Mortgage Report; Operations Report; Privacy Report; Plastics Report; and Preemption Report. Excerpt from Beltway Report Bend Over, Cough On January 23,...more

Got Pot? The Feds Try to Make Mortgagee Banks Liable Under the Crack House Statute

Banks holding mortgages now have one more thing to worry about: potential criminal and civil liability and forfeiture under the federal “crack-house” statute. Sound crazy? Read on, because late last year the four U.S....more

OCC and OTS: Policy Integration

by Jonathan Foxx on

On December 8, 2011, the Office of the Comptroller of the Currency (OCC) issued a bulletin that outlines the process which the OCC intends to follow to fully integrate the Office of Thrift Supervision (OTS) policy guidance...more

Bureau of Consumer Financial Protection Narrows Federal Preemption of Mortgage Lending Laws

by Miller & Martin PLLC on

Among the many changes made by the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) were changes to the Alternative Mortgage Transaction Parity Act (“AMTPA”). AMTPA, a federal law that has been in...more

Partial “Dirt-for-Debt” Plans in Chapter 11: the “Indubitable Equivalence” Debate

by Poyner Spruill LLP on

One consequence of the depressed real estate market has been numerous Chapter 11 bankruptcy cases wherein the debtor seeks confirmation of a “dirt-for-debt” plan. In such a plan, instead of paying the secured creditor the...more

Financial Services Report - Volume 11, No. 1 - Summer 2011

by Morrison & Foerster LLP on

In this issue: Arbitration Report; Beltway Report; Operations Report; Mortgage Report; Privacy Report; and Preemption Report. Weird things happened this quarter that read like plot devices that couldn’t get past the...more

Financial Services Report - Volume 9, No 1. Winter 2010

by Morrison & Foerster LLP on

In this issue: 2 Beltway Report 5 Operations Report 5 Plastic (a/k/a Card Report) 6 Mortgage Report 7 Privacy Report 10 Arbitration Report 10 Preemption Report Editor’s Note Tis the season to be thankful, and...more

Financial Services Report: Staying Ahead of the Summons - Volume 7, No 1. Summer 2010

by Morrison & Foerster LLP on

In This Issue: 2 Beltway Report 5 Operations Report 6 Plastic (a/k/a Card Report) 7 Mortgage Report 8 Privacy Report 9 Arbitration Report 10 Preemption Report Please see full report below for more information....more

Ninth Circuit Rules That The National Bank Act Preempts California's Unfair Competition Law

On March 9, 2010, the Ninth Circuit held that the National Bank Act ("NBA") preempts claims of "unfair" and "fraudulent" conduct in violation of state law. See Martinez v. Wells Fargo Home Mortgage, Inc., No. 07-17277 (9th...more

Ninth Circuit Holds That Allegedly Excessive Underwriting Fees Cannot Be the Basis for a RESPA Section 8(b) Claim and the National...

by Lane Powell PC on

On March 8, the Ninth Circuit Court of Appeals held that the National Bank Act preempts unfair and fraudulent conduct claims under California's unfair competition statute and that allegedly excessive underwriting fees cannot...more

Financial Services Report: Staying Ahead of the Summons: Volume 6, No. 1. Spring 2010

by Morrison & Foerster LLP on

In this issue: 2 Arbitration Report 2 Beltway Report 3 Preemption Report 5 Operations Report 7 Mortgage Report 8 Privacy Report Please see full newsletter below for more information....more

Financial Services Report: Staying Ahead of the Summons - Vol 5, No 4, Winter 2009

by Morrison & Foerster LLP on

In This Issue: 2 - Beltway Report 4 - Credit Card Report 5 - Preemption Report 6 - Operations Report 7 - Mortgage Report 8 - Privacy Report 9 - Arbitration Report Please see full newsletter below for more...more

Financial Services Report: Staying Ahead of the Summons (Vol. 5, No 3. Fall 2009)

by Morrison & Foerster LLP on

Inside ------------------------- *2 Beltway Report *4 Credit Card Report *5 Preemption Report *6 Operations Report *7 Mortgage Report *8 Privacy Report *9 California Report *10 Arbitration...more

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