News & Analysis as of September 25, 2024

Mortgages › Burden of Proof

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The term "mortgage" typically refers to a mortgage loan. A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +

House Votes to Repeal OCC True Lender Rule

Goodwin on 7/28/2021

In This Issue. The House of Representatives voted to pass a Congressional Review Act resolution repealing the Office of the Comptroller of the Currency’s (OCC) “true lender” rule; the Consumer Financial Protection Bureau...more

Consumer Law Hinsights – July 2020

Hinshaw & Culbertson - Consumer Financial... on 8/4/2020

Welcome to Consumer Law Hinsights?a monthly compilation of nationwide consumer protection cases of interest to financial services and accounts receivable management companies. This edition highlights our interactive COVID-19...more

Courts: A Foreclosure Pandemic Pause? (Part 1)

Morrison & Foerster LLP on 5/22/2020

As borrowers fall into financial distress as a result of the ongoing coronavirus pandemic, or otherwise, and loans default, some lenders look to foreclose their mortgage and mezzanine loans. While there is little judicial...more

Legal Guidance Watch: Second Circuit Nostra Sponte Certifies a Series of Mortgage Lender Compliance Questions to New York Court of...

Hinshaw & Culbertson - Consumer Crossroads on 3/4/2020

The Second Circuit recently certified two questions to the New York Court of Appeals regarding the requisite proof needed for borrowers to dispute the lender's compliance with New York Real Property Procedures and Acts...more

Bank of America Wins Reversal of FIRREA $1.27B Penalty

Manatt, Phelps & Phillips, LLP on 6/28/2016

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

Reversal of Countrywide Fraud Verdict a Reminder of Government’s Heavy Burden of Proof

BakerHostetler on 6/1/2016

On May 23, 2016, the U.S. Court of Appeals for the Second Circuit reversed a jury’s finding of civil fraud against Countrywide Home Loans and other lenders, finding that the government had failed to prove fraud in...more

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