News & Analysis as of

Loans Bank of America

Chambliss, Bahner & Stophel, P.C.

Tennessee Banks and Others Participating in Fully Operational Main Street Lending Program

The Federal Reserve Bank of Boston has announced that the Main Street Lending Program (the Program) is now fully operational and ready to purchase participations in eligible loans that are submitted to the Program by...more

Robins Kaplan LLP

Financial Daily Dose 4.15.2020 | Top Story: US and Airlines Reach Deal on Industry Bailout

Robins Kaplan LLP on

The White House and the US airline industry have agreed in principle to a $25 billion bailout after weeks of “haggling” over the terms, including whether the Treasury Department was “effectively turning the grants into loans...more

Greenberg Glusker LLP

Bank of America Must Pay $46 Million for Improper Foreclosure

Greenberg Glusker LLP on

Brian Davidoff was quoted in a Los Angeles Daily Journal article on March 28, 2017, discussing U.S. Bankruptcy Judge Christopher M. Klein’s ruling in Sundquist v. Bank of America NA which awarded Erik and Renee Sundquist...more

Carlton Fields

Real Property, Financial Services & Title Insurance Update: Week Ending October 23, 2015

Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Documentary Stamp Tax: deferred interest on a “pick-a-payment” mortgage did not amount to future advance, which would have required payment of documentary stamp tax - Steinberg v. Wells...more

Burr & Forman

Chorus of Critics Grows Again for Third DCA’s Beauvais Opinion on Statute of Limitations, Rehearing Granted by Third DCA

Burr & Forman on

The opinion of Florida’s Third District Court of Appeal in Deutsche Bank Trust Co. Americas v. Beauvais, No. 3D14-575, 2014 WL 7156961 (Fla. 3d DCA Dec. 17, 2014) has been a lightning rod for criticism from federal courts in...more

Davis Wright Tremaine LLP

Increased Risk for Buyers of Credit Card Loans

Third party debt buyers may face increased threat of state-law class action lawsuits after a recent Second Circuit ruling prohibiting such debt buyers from invoking federal preemption defenses under the National Bank Act to...more

Troutman Pepper

Valid at Inception Rule Shot Down by the Second Circuit

Troutman Pepper on

Marketplace lenders and investors that purchase interests in loans originated by banks should pay close attention as it could spawn a host of class action lawsuits if left standing. In a controversial opinion decided on...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

FHFA Updates Requirements for Freddie and Fannie Sales of Non-Performing Loans - On March 2, FHFA announced changes to requirements for sales of non-performing loans (NPLs) by Freddie and Fannie to reduce the number of...more

Orrick - Finance 20/20

Motion to Dismiss Granted in Part in $1.75B Repurchase Suit Against BofA, Countrywide

On May 29, Justice Eileen Bransten in the Supreme Court of the State of New York partially granted a motion to dismiss in a case by U.S Bank against Bank of America and Countrywide seeking the repurchase of 4,484 mortgages...more

Bilzin Sumberg

Bank of America Settlement in Jeopardy?

Bilzin Sumberg on

Bank of America’s $8.5 billion settlement in 2011 to resolve claims over Countrywide’s mortgage abuses may be in jeopardy. Last week, a group of investors, the Triaxx funds and the Federal Home Loan Banks of Boston,...more

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