News & Analysis as of

Breach of Duty Borrowers

Goodwin

Second Circuit Rules that Syndicated Loans Are Not “Securities” Under State and Federal Law

Goodwin on

On August 24, 2023, the U.S. Court of Appeals for the Second Circuit in Kirschner unanimously  held that notes evidencing syndicated loans do not plausibly qualify as “securities” covered by state and federal securities laws...more

Kaufman & Canoles

Title Insurance Client Alert – Fourth Circuit Rejects Borrower’s Breach of Fiduciary Duty Claim Against Deed of Trust Trustee....

Kaufman & Canoles on

Recently, a unanimous panel of the United States Circuit Court for the Fourth Circuit issued an unpublished opinion shooting down a borrower’s claim that the substitute trustee of his deed of trust breached its fiduciary...more

Pierce Atwood LLP

Developments in Class Action Litigation Surrounding the Paycheck Protection Program

Pierce Atwood LLP on

As more class actions are filed every day related to the COVID-19 pandemic, a growing number of plaintiffs are asserting claims against banks that acted as participating lenders in the Paycheck Protection Program (PPP). The...more

Winstead PC

Attorney For Lender Did Not Owe Any Fiduciary Duties To Borrower As An Escrow Agent

Winstead PC on

In JTREO, Inc. v. Hightower & Assocs., the buyer of a note and mortgage sued the attorney for the lender who facilitated the transaction by loaning money to the buyer for breach of fiduciary duty arising from the fact that...more

Bowditch & Dewey

Lender Liability During COVID-19

Bowditch & Dewey on

During an interview with Bloomberg TV on March 6th, Lawrence Summers, former Secretary of the U.S. Treasury, observed: “Economic time has stopped but financial time has not stopped.” An incisive summary as any of the current...more

Rosenberg Martin Greenberg LLP

"No Harm, No Foul:” Suit to Set Aside Foreclosure Sale for Failure to Comply With Deed of Trust Doomed By Failure to Allege That...

The opinion of the Virginia Supreme Court of Appeals in Young-Allen v. Bank of America provides both hope for lenders frustrated by borrowers who delay inevitable foreclosure sales by requiring the lender to comply with every...more

Snell & Wilmer

Avoiding Lender Liability for Credit-Related Actions in California

Snell & Wilmer on

Aside from general statutory prohibitions on lender discrimination, there are certain circumstances under California law in which lenders may be held liable for credit-related actions, such as negotiating or denying credit....more

Carlton Fields

Real Property, Financial Services & Title Insurance Update: Weeks Ending July 31 & August 7, 2015

Carlton Fields on

Foreclosure: non-borrower owner of real property as tenants-in-common with borrower not required to sign mortgage for borrower to encumber only his interest in the property and non-borrower’s signature on mortgage reflected...more

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