LexisNexis® Legal Newsroom
Mealey's Banking & Finance - Federal Judge Affirms Bankruptcy Court's Dismissal Of Quiet Title Claim

LAS VEGAS - A Nevada federal judge on April 3 affirmed a bankruptcy court's decision to dismiss a claim for quiet title asserted by borrowers against a loan servicer and to dismiss a mortgage company from the case, finding that they failed to produce any viable evidence showing a genuine dispute...

Mealey's Banking & Finance - 11th Circuit Affirms Dismissal Of Due Process Claims Against Fannie Mae

CINCINNATI - After finding that borrowers were provided with numerous opportunities to keep their residence, the 11th Circuit U.S. Court of Appeals on April 6 affirmed a judgment in favor of several home loan entities to dismiss the claims for violation of their due process rights (Angel Garcia, et al...

Mealey's Banking & Finance - 3rd Circuit Reverses Dismissal Of FDCPA Claim Against Law Firm

PHILADELPHIA - The Third Circuit U.S. Court of Appeals on April 7 reversed a decision to dismiss a borrower's claim for violation of the Fair Debt Collection Practices Act (FDCPA) against a law firm, finding that a foreclosure complaint was a communication that was served on the borrower in an attempt...

Mealey's Banking & Finance - Federal Judge Finds HSBC Has Authority To Foreclose On Property

HOUSTON - A Texas federal judge on April 7 refused to dismiss a bank's foreclosure action against a borrower who defaulted on his loan, finding that it has the authority to foreclose on the property (HSBC Bank USA, et al. v. Rodney Johnson, No. 15-0277, S.D. Texas; 2015 U.S. Dist. LEXIS 44968).

Mealey's Banking & Finance - 11th Circuit Finds Borrower Cannot Argue Timeliness On Appeal

ATLANTA - After finding that the purchaser of a home who alleged that a mortgage entity inflated his appraisal failed to submit his arguments on timeliness before a district court, the 11th Circuit U.S. Court of Appeals on April 7 refused to hear his claims on appeal and affirmed dismissal (Randall White...

Mealey's Banking & Finance - Federal Judge Refuses To Dismiss RESPA And FCRA Claims

MIAMI - A Florida federal judge on April 8 dismissed certain claims filed by a borrower against a mortgage company but allowed her claims for violation of the Fair Credit Reporting Act (FCRA) and the Real Estate Settlement Procedures Act (RESPA) to proceed (Gayle Helman v. Udren Law Office, P.C., No...

Mealey's Banking & Finance - Panel: Insurer, Successor Company Cannot Be Parties To Garnishment Proceeding

ST. PAUL, Minn. - The Minnesota Court of Appeals on April 6 affirmed a lower court's ruling that a professional liability insurer cannot be made a party to a garnishment proceeding arising from an alleged mortgage fraud scheme involving its insured because coverage under the policy did not attach...

Mealey's Banking & Finance - Partial Professional Services Exclusion Bars Coverage, 9th Circuit Affirms

SAN FRANCISCO - The Ninth Circuit U.S. Court of Appeals on April 8 affirmed a ruling in favor of a directors, officers and company liability insurer in a coverage dispute arising from an alleged Ponzi scheme, finding that the policy's partial professional services exclusion bars coverage (William...

Mealey's Banking & Finance - 4th Circuit Affirms Dismissal Of Fraud Claims Against Lenders

RICHMOND, Va. - The Fourth Circuit U.S. Court of Appeals on April 7 rejected an appeal filed by property owners in relation to a note of obligation, affirming a court's decision that denied their request to file an amended complaint (James J. Rowe, et al. v. Aurora Commercial Corp., No. 14-1906,...

Mealey's Banking & Finance - Some Of Investors' Claims Not Barred By Exclusion, 9th Circuit Says In Reversal

SAN FRANCISCO - Because some of investors' allegations against an insured were not barred by a policy's partial professional services exclusion, the exclusion does not preclude the possibility of coverage, the Ninth Circuit U.S. Court of Appeals ruled April 8, reversing and remanding a lower...

Mealey's Banking & Finance - Federal Judge Refuses To Allow Discovery Against Wells Fargo

SAN DIEGO - After finding that discovery is not appropriate at the present stage of litigation, a California federal judge on April 10 denied a plaintiff's request to compel depositions from the employees of several lenders (Albert Patrick Zappia v. World Savings Bank FSB, et al., No. 14cv1428, S...

Mealey's Banking & Finance - Federal Judge Allows Bank To File Third-Party Complaint Against Attorney

SAN DIEGO - A California federal judge on April 13 granted a bank's request for leave to file a third-party complaint against a borrower's son and former counsel in relation to his purchase of a property at a trustee sale, finding that the filing of the complaint will not prejudice the plaintiff...

Mealey's Banking & Finance - Federal Judge: Coverage Turns On Discovery Of Loss, Not When Loss Was Reported

PHOENIX - An Arizona federal judge on April 9 found that coverage turns on discovery within the policy period of a loss to real property for which an insured negligently failed to obtain insurance, not on when the loss was reported to the insurer, denying the insurer's motion to dismiss a breach...

Mealey's Banking & Finance - Federal Judge Grants Hotel Owner Time To Remedy Hotel Condition

MOBILE, Ala. - After finding that a hotel owner should be afforded the chance to remedy widespread water and mold damage in his hotel, an Alabama federal judge on April 13 denied a bank's request to appoint a receiver in the case (Fidelity Bank v. Key Hotels of Bewton LLC, et al., No. 15-0031, S...

Mealey's Banking & Finance - Federal Judge Allows Borrowers' Claims Of Unconscionability To Proceed

HUNTINGTON, W.Va. - After finding that the terms of a loan agreement could be found unconscionable, a West Virginia federal judge on April 14 refused to grant summary judgment to the seller of a mobile home and a lender (William Howard Adkins, et al. v. CMH Homes Inc. d/b/a Freedom Homes, et al., No...

Mealey's Banking & Finance - Federal Judge Finds Lenders Are Not Collecting Debt Under FDCPA

SAN FRANCISCO - After finding that a lender's attempt to enforce a security interest under a deed of trust in a nonjudicial foreclosure did not constitute debt collection, a California federal judge on April 14 dismissed a borrower's claim for violation of the Fair Debt Collection Practices Act...

Mealey's Banking & Finance - 1st Circuit Dismisses Foreclosure-Related Case Against HSBC As Moot

BOSTON - After finding that no controversy exists in a case filed by a borrower who obtained a loan modification to prevent foreclosure, the First Circuit U.S. Court of Appeals on April 15 dismissed her claims against a bank as moot (Jodi B. Matt v. HSBC Bank USA, N.A., et al., No. 13-2209, 1st Cir.;...

Mealey's Banking & Finance - Judge Finds TILA And RESPA Claims Are Time- Barred, Allows Amendments

FRESNO, Calif. - A California appeals court on April 14 dismissed numerous claims asserted by a property owner in relation to a default on her loan, including claims for violation of the Truth in Lending Act (TILA) and the Real Estate Settlement Procedure Act (RESPA) as time-barred (Judy Burden v. California...

Mealey's Banking & Finance - 5th Circuit Finds No Evidence To Support TDCA Claim

NEW ORLEANS - The Fifth Circuit U.S. Court of Appeals on April 17 affirmed a trial court's decision to grant summary judgment in favor of lenders, finding no evidence to support claims for violation of the Texas Debt Collection Practices Act (TDCA) and other claims (Darryl J. Berry, et al. v. Federal...

Mealey's Banking & Finance - 11th Circuit Refuses To Remand Foreclosure Case, Affirms Dismissal

ATLANTA - After finding that several of a borrower's claims were federal and that she failed to property state her claims, the 11th Circuit U.S. Court of Appeals on April 20 affirmed a decision refusing to remand and dismissed the case (Christine Stone v. Bank of New York Mellon, N.A., f.k.a. Bank...

Mealey's Banking & Finance - Judge Partially Sustains Trust's Objection, Allows Wrongful Foreclosure Claim

NEW YORK - A New York bankruptcy judge on April 21 ruled on a trust's objection to certain claims asserted by a borrower, finding that her claims for wrongful foreclosure and violation of the Massachusetts Consumer Credit Cost Disclosure Act (MCCCDA) can proceed (In re Residential Capital LLC, et...

Mealey's Banking & Finance - California Federal Judge Dismisses UCL Claim In Foreclosure Case

SAN FRANCISCO - A federal judge in California on April 17 dismissed claims based on fraud and the state's unfair competition law (UCL) with prejudice in an alleged wrongful foreclosure case, while dismissing four other claims with leave to amend (Dan Wiskind v. JPMorgan Chase Bank, No. 14-4223, N...

Mealey's Banking & Finance - Judge Finds RESPA Claim Can Proceed, Grants Partial Dismissal

DETROIT - A Michigan federal judge on April 22 granted a motion filed by lenders to dismiss borrowers' claims for breach of contract and other claims, but found that their claims for violation of Real Estate Settlement Procedures Act (RESPA) can proceed (Martin White Jr. et al. v. Wells Fargo Bank...

Mealey's Banking & Finance - Preliminary Approval Of Settlement In Insurance Kickback Suit Granted

SAN FRANCISCO - A federal judge in California on April 23 granted preliminary approval to a proposed class action settlement alleging that a mortgage lender and an insurer were involved in an unjust kickback scheme involving force-placed flood insurance, in violation of, among other things, the state's...

Mealey's Banking & Finance - Underlying Suit Fails To Allege Accident, Occurrence Under Policy, Magistrate Says

ST. LOUIS - A Missouri federal magistrate on April 27 found that an underlying lawsuit against a loan broker insured does not allege any event that could be considered either an "accident" or "occurrence" under an insurance policy, granting the insurer's motion for summary judgment...