News & Analysis as of

Fraud Mortgages Bank of America

Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain. 
Freiberger Haber LLP

Fraud Notes: Duplication, Failure to Identify Misrepresentations of Fact, and Fraudulent Concealment

Freiberger Haber LLP on

On August 23, 2023, the Appellate Division, Second Department issued two decisions that briefly touched upon fraud causes of action: Hershman v. Bank of N.Y. Mellon, 2023 N.Y. Slip Op. 04369 (2d Dept. Aug. 22, 2023) (here),...more

McGlinchey Stafford

Florida Real Property And Business Litigation Report Volume XIII, Issue 50

McGlinchey Stafford on

M & M Realty Partners at Hagen Ranch, LLC v. Mazzoni, Case No. 18-13536 (11th Cir. 2020). A “binding financial commitment” from a third party, including a wholly owned business entity, is required in order to satisfy the...more

Robins Kaplan LLP

Financial Daily Dose 2.20.2020 | Top Story: Fed Minutes Show Central Bank Happy With Economy, Worried About Coronavirus

Robins Kaplan LLP on

Newly released minutes from the Fed’s January meeting show central bankers preoccupied with global risks, including the still-growing economic impact of the coronavirus, while still taking a wait-and-see approach to any...more

Carlton Fields

Real Property & Title Insurance Update: Week Ending April 5, 2019

Carlton Fields on

Real Property Update - Foreclosure / Standing: bank cannot rely solely on its acquisition of prior lenderto prove standing where note was specially indorsed to prior lender - Certo v. The Bank of New York Mellon, No....more

Carlton Fields

Real Property & Title Insurance Update: Week Ending August 18 & 25, 2017

Carlton Fields on

Foreclosure: general reservation of jurisdiction in a foreclosure judgment is very limited, and certainly does not give trial court jurisdiction to eliminate a lien more than three years after Final Judgment of Foreclosure...more

Manatt, Phelps & Phillips, LLP

Bank of America Wins Reversal of FIRREA $1.27B Penalty

A breach of contract is insufficient to also support a claim for fraud, the Second Circuit Court of Appeals has ruled, reversing a $1.2 billion verdict against Countrywide Home Loans in the process. What happened - ...more

Bilzin Sumberg

Fraud Verdict Against Countrywide & BofA Upheld

Bilzin Sumberg on

BofA’s “hustling” attempt to overturn a $1.27 billion judgment against it and Countrywide—along with the individual defendant identified in the next paragraph, the “Defendants”—in the U.S. District Court for the Southern...more

Bilzin Sumberg

BofA $1.4 Billion Settlement Talks with Freddie Mac

Bilzin Sumberg on

Bank of America and Freddie Mac are currently attempting to resolve a mortgage repurchase dispute in which Freddie Mac claims that Bank of America should have to buy back more than $1.4 billion in mortgage loans it claims...more

Bilzin Sumberg

BofA’s Countrywide Found Responsible For Defrauding Fannie Mae & Freddie Mac

Bilzin Sumberg on

A federal jury ruled yesterday that Countrywide, now owned by Bank of America, defrauded Fannie Mae and Freddie Mac by selling them defective mortgages in advance of the great financial crisis of 2008. A former Countrywide...more

Bilzin Sumberg

Bank of America Fraud Case Headed to Trial

Bilzin Sumberg on

An order yesterday by U.S. District Judge Jed Rakoff in New York clears the way for a trial on September 23 in a government lawsuit accusing Bank of America Corp. of fraud in the sale of billions of dollars of toxic mortgage...more

Bilzin Sumberg

DOJ and SEC File Suits Against Bank of America

Bilzin Sumberg on

Stop me if you have heard something like this before. The Department of Justice announced a civil lawsuit on Tuesday alleging that Bank of America defrauded buyers of mortgage-backed securities by lying about the quality of...more

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