News & Analysis as of

Foreclosure › Home Affordable Modification Program

Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of... more +
Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -
Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending November 15, 2019

Carlton Fields on

Real Property Update - Foreclosure / Notice: Mail log sufficient evidence to establish mailing of notice to borrower of default and possibility of foreclosure – Stacknik v. U.S. Bank, N.A., No. 2D18-2156 (Fla. 2d DCA Nov....more

Bradley Arant Boult Cummings LLP

Mortgage-Loan Modification Scam Ends with Serious Consequences

Bradley Arant Boult Cummings LLP on

A California man that operated as a high-level sales executive for a fraudulent residential mortgage-loan modification scheme will now spend several years in jail. From 2009 to 2016, Mehdi Moarefian (aka Michael Miller)...more

Goodwin

N.D. Illinois: Bank’s HAMP Procedures Weren’t Unfair or Deceptive

Goodwin on

A U.S. District Judge in the Northern District of Illinois recently granted summary judgment in favor of defendant PNC Bank on a borrower’s promissory estoppel and Illinois Consumer Fraud Act (ICFA) claims in connection with...more

Bilzin Sumberg

Wells Accused of Profiting from Foreclosure Relief Program

Bilzin Sumberg on

A recent class action lawsuit filed on behalf of thousands of homeowners in New York against Wells Fargo alleges that while the bank received $25 billion in government bailout funds it failed to make a good faith effort to...more

Carlton Fields

California District Court Denies Certification Where Putative Class Members Lack Standing and Plaintiff Fails to Conduct Extensive...

Carlton Fields on

The United States District Court for the Eastern District of California recently denied class certification in a case alleging wrongdoing by a loan servicer in connection with the Home Affordable Modification Program...more

Stinson LLP

Minnesota Supreme Court Recognizes New Private Right Of Action Against Residential Mortgage Loan Servicers

Stinson LLP on

On April 2, 2014, the Minnesota Supreme Court in Gretsch v. Vantium Capital, Inc. recognized a new private right of action against residential mortgage loan servicers who breach their servicer participation agreements with...more

Ballard Spahr LLP

First Circuit Ruling in Foreclosure Litigation May Help Lenders Facing HAMP-Related Claims

Ballard Spahr LLP on

The law is well settled that borrowers do not have a direct right of action under the Home Affordable Modification Program (HAMP) against a lender that fails to offer a loan modification. A split of authority continues,...more

Snell & Wilmer

Ninth Circuit Opens Door for Protracted HAMP Litigation

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Earlier this month, the Ninth Circuit reversed a lower court’s dismissal of two consolidated class action complaints, holding that mortgage servicers participating in the Home Affordable Modification Program (HAMP) are...more

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