Mealey's Banking & Finance - 9th Circuit Reverses Dismissal Of Claimants' TILA, RESPA Claims

SAN FRANCISCO - In a majority ruling, Ninth Circuit U.S. Court of Appeals on July 16 reversed a ruling that dismissed claims for violation of various federal statutes asserted by homeowners, finding that their claims were not time-barred and that their claim for violation of the Truth in Lending Act...

Mealey's Banking & Finance - Judge Orders Banks, Officer To Pay $1.3 Billion For Mortgage Fraud

NEW YORK - A New York federal judge on July 30 ordered Bank of America Corp., as successor to Countrywide Financial Corp. and Countrywide Home Loans, and a former Countrywide officer to pay $1.3 billion in damages in connection with Countrywide's residential mortgage lending business and a scheme...

Mealey's Banking & Finance - 9th Circuit Finds Court Erred In Dismissing Claim Alleging Deceptive Acts

HONOLULU - After finding that a property owner sufficiently alleged her claim that banks and others violated Hawaii law, the Ninth Circuit U.S. Court of Appeals on Aug. 4 reversed a decision dismissing the claim and remanded the case for further proceedings (Watoshina Lynn Compton v. Countrywide Financial...

Mealey's Banking & Finance - Consumer Financial Protection Bureau Orders Amerisave To Pay $20.8 Million

IOWA CITY, Iowa - The Consumer Financial Protection Bureau on Aug. 12 found that Amerisave Mortgage Corp. and others violated the Truth In Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA), ordering them to pay $20,892,234 in penalties (In re In the Matter of: Amerisave Mortgage...

Mealey's Banking & Finance - 7th Circuit Dismisses Attorney's Appeal Over Costs Award As Frivolous

CHICAGO - After finding that a property owner and her attorney's appeal of a foreclosure action was frivolous, the Seventh Circuit U.S. Court of Appeals on Aug. 13 affirmed a court's decision to award a mortgage lender fees and costs (PNC Bank N.A. v. Sheila M. Spencer, et al., No. 13-2676, 7th...

Mealey's Banking & Finance - 6th Circuit Affirms Dismissal Of TILA, RESPA Claims Against PNC

CINCINNATI - The Sixth Circuit U.S. Court of Appeals on Aug. 18 affirmed a court's decision to grant summary judgment in favor of a bank in relation to the foreclosure of a property, finding that a homeowner's claims for violations of the Truth in Lending Act (TILA) and other claims should be...

Mealey's Banking & Finance - 11th Circuit Affirms Dismissal Of Action Filed Over Home Foreclosure

ATLANTA - After finding that a homeowner failed to state a claim in relation to her action to enjoin lenders from foreclosing on a property, the 11th Circuit U.S. Court of Appeals on Aug. 21 affirmed the dismissal of the case (Linda Stabb v. GMAC Mortgage LLC, et al., No. 13-15900, 11th Cir.; 2014 U...

Mealey's Banking & Finance - 1st Circuit Finds Federal Entities Are Exempt From Paying Real Estate Tax

BOSTON - After finding that the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corp. (Freddie Mac) and the Federal Housing Finance Agency (FHFA) are excused from paying state and local taxes, the First Circuit U.S. Court of Appeals on Aug. 27 affirmed decisions issued...

Mealey's Banking & Finance - 1st Circuit Finds Court Property Dismissed Dispute Related To Loan Modification

BOSTON - After finding that a property owner's claims for fraud and promissory estoppel against a bank in relation to attempted mortgage loan modifications failed, the First Circuit U.S. Court of Appeals on Sept. 8 affirmed a decision to dismiss the case (Linda M. Ruivo v. Wells Fargo Bank N.A.,...

Mealey's Banking & Finance - 11th Circuit Affirms Dismissal, Finds Property Owner Lacks Standing

ATLANTA - The 11th Circuit U.S. Appeals Court on Sept. 18 granted a bank's motion to dismiss a homeowner's case against it, finding that the bank had the authority to foreclose on a property and that the owner lacked standing to challenge the validity of an assignment to the bank (Dorothy Brown...

Mealey's Banking & Finance - Associations Argue In Supreme Court That Action Is Barred Under TILA

WASHINGTON, D.C. - Numerous banking and mortgage entities on Sept. 17 filed an amicus curiae brief in the U.S. Supreme Court in support of Countrywide Home Loans Inc. and others, arguing that a lawsuit filed by property owners over their right to rescind under the Truth In Lending Act (TILA) is time...

Mealey's Banking & Finance - 11th Circuit Finds Homeowner Lacks Standing To Sue For Violations

ATLANTA - After finding that a homeowner lacked standing to assert claims in relation to the foreclosure of his home against a bank and a law firm, the 11th Circuit U.S. Court of Appeals on Sept. 25 affirmed a judgment dismissing his case (Jameel Cornelius v. Bank of America, N.A., No. 13-14905, 11th...

Mealey's Banking & Finance - 11th Circuit Finds Wrongful Foreclosure Action Is Time-Barred

ATLANTA - The 11th Circuit U.S. Court of Appeals on Oct. 7 affirmed a district court's decision to grant summary judgment in favor of numerous lenders, finding that a property owner's case related to the foreclosure of her home was time-barred (Elizabeth H. Coursen v. Shapiro Fishman GP, et al...

Mealey's Banking & Finance - 9th Circuit Dismisses TILA Claim For Rescission As Time-Barred

SAN FRANCISCO - The Ninth Circuit U.S. Court of Appeals on Oct. 10 affirmed a court's decision to dismiss a homeowner's claims for violation of the Truth in Lending Act (TILA), finding that the claims were time-barred (Stacy Enid Hernandez v. FFM Recontrust Company NA, et al., No. 12-56865, 9th...

Mealey's Banking & Finance - U.S. Supreme Court Grants Leave To Solicitor General In TILA Dispute

WASHINGTON, D.C. - The U.S. Supreme Court on Oct. 14 granted a motion by the U.S. solicitor general for leave to participate in oral arguments as amicus curiae in a dispute over whether a letter or a lawsuit is required to properly exercise the right to rescind under the Truth In Lending Act (TILA) ...

Mealey's Banking & Finance - 11th Circuit Finds Insufficient Facts To Support RESPA Claims

ATLANTA - The 11th Circuit U.S. Court of Appeals on Nov. 3 affirmed a district court's decision to dismiss claims asserted by property owners in relation to a bank's foreclosure of their home, finding that the owners failed to submit sufficient facts to support their claims for violation of the...

Mealey's Banking & Finance - Supreme Court Hears Arguments On Whether TILA Action Is Time-Barred

WASHINGTON, D.C. - Countrywide Home Loans Inc. and property owners on Nov. 4 argued before the U.S. Supreme Court as to whether a lawsuit filed by the owners in relation to their right to rescind under the Truth in Lending Act (TILA) was time-barred (Larry D. Jesinoski, et al. v. Countrywide Home Loans...

Mealey's Banking & Finance - 6th Circuit Affirms Dismissal Of Negligence Claims Against Fannie Mae

CINCINNATI - After finding that former property owners failed to show that the foreclosure of their home was void, the Sixth Circuit U.S. Court of Appeals on Nov. 7 affirmed dismissal of the case in favor of the Federal National Mortgage Association (Fannie Mae) (Melissa A. Downey, et al. v. Federal...

Mealey's Banking & Finance - 1st Circuit Reverses Dismissal Of Breach Of Contract Claims Against Bank

BOSTON - After finding that a court failed to give a property owner sufficient notice when it converted a lender's motion to dismiss into a summary judgment motion, the First Circuit U.S. Court of Appeals on Nov. 14 reversed a decision dismissing breach of contract claims related to the denial of...

Mealey's Banking & Finance - 1st Circuit Certifies Foreclosure-Related Questions To State Court

BOSTON - The First Circuit U.S. Court of Appeals on Nov. 21 certified questions in relation to a dispute over the foreclosure of a property by a bank to the New Hampshire Supreme Court (Joseph Castagnaro v. The Bank of New York Mellon, No. 14-1195, 1st Cir.; 2014 U.S. App. LEXIS 21986).

Mealey's Banking & Finance - 5th Circuit Affirms Dismissal Of RESPA Foreclosure-Related Claims

NEW ORLEANS - The Fifth Circuit U.S. Court of Appeals on Dec. 3 affirmed a court's decision to grant summary judgment in favor of various banks in relation to the foreclosure of a property, finding that the property owner's claims for violation of the Real Estate Settlement Procedures Act (RESPA...

Mealey's Banking & Finance - 2nd Circuit Vacates Dismissal Of Property Owner's Fraud Claims

NEW YORK - The Second Circuit U.S. Court of Appeals on Dec. 5 found that a district court erred in finding that a former property owner's fraud claims against banks should be dismissed as barred by the doctrine established in Rooker-Feldman, vacating the ruling and ordering that the claims be remanded...

Mealey's Banking & Finance - 9th Circuit Affirms Dismissal Of TILA And Fraud Claims Against Banks

PASADENA, Calif. - After finding that a claimant's claims for violation of the Truth in Lending Act (TILA), fraud and other claims lacked particularity or were time-barred, the Ninth Circuit U.S. Court of Appeals on Dec. 12 affirmed dismissal of the case (Olasumbo Titilola Ajetunmobi v. Clarion Mortgage...

Mealey's Banking & Finance - 11th Circuit Reverses Dismissal Of RESPA Claim Against Banks

ATLANTA - The 11th Circuit U.S. Court of Appeals on Dec. 16 affirmed the dismissal of a property owner's complaint against a bank, but reversed the dismissal of his claim for violation of the Real Estate Settlement Procedures Act (RESPA) (Steven Thomason v. One West Bank, et al., No. 13-11987, 11th...

Mealey's Banking & Finance - 9th Circuit Affirms Dismissal Of Wrongful Foreclosure Action

SAN FRANCISCO - The Ninth Circuit U.S. Court of Appeals on Dec. 18 affirmed a court's dismissal of a wrongful foreclosure action, finding that the former property owner failed to state a claim under the Home Affordable Modification Program (HAMP) (Rodolfo Velasquez v. Chase Home Financial LLC, et...