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Mealey's Banking & Finance - 8th Circuit Affirms Dismissal Of Class Action Filed By Borrowers

ST. LOUIS - The Eighth Circuit U.S. Court of Appeals on June 18 affirmed dismissal of a putative class action of borrowers against a bank and related entities, rejecting their claims that they were entitled to equitable tolling based on a previous state court action that involved the same claims against...

Mealey's Banking & Finance - 5th Circuit Finds No Reversible Error, Affirms Dismissal Of Case

NEW ORLEANS - After finding that a federal district court committed no reversible error when it granted summary judgment in favor of a bank, the Fifth Circuit U.S. Court of Appeals on June 26 affirmed a ruling finding that claims related to a loan modification should be dismissed (Raymond Rabe, et al...

Mealey's Banking & Finance - 2nd Circuit Finds Foreclosure Claims Are Barred By State Court Ruling

NEW YORK - The Second Circuit U.S. Court of Appeals on July 1 affirmed a district court's judgment dismissing a case, finding that the claims asserted by a borrower were barred by a previous state court ruling foreclosing on his property (Swinton Brown v. Wells Fargo Bank N.A., et al., No. 14-1846...

Mealey's Banking & Finance - D.C. Circuit Reverses Dismissal Of Breach Of Contract Claim, Remands

WASHINGTON, D.C. - The District of Columbia U.S. Court of Appeals on June 30 reversed a district court's dismissal of a borrower's breach of contract claim in relation to nominal damages and found that the case should be remanded to a state court (Thomas Alston v. Flagstar Bank, FSB, No. 14-7066...

Mealey's Banking & Finance - 6th Circuit Finds Bank Of America Had Standing To Foreclose

CINCINNATI - The Sixth Circuit U.S. Court of Appeals on July 6 affirmed a district court's dismissal of foreclosure-related claims, finding that borrowers failed to show that a bank lacked standing to foreclose and that they waived their right to argue due process violations on appeal (Jerry Rush...

Mealey's Banking & Finance - 11th Circuit Affirms Denial Of Motion To Strike Bank's Witness

ATLANTA - The 11th Circuit U.S. Court of Appeals on July 8 affirmed a district court's decision that refused to strike the affidavit of a bank's officer submitted in a foreclosure-related action, finding that the borrower was aware of the witness and that he waived his argument challenging the...

Mealey's Banking & Finance - 11th Circuit Affirms Dismissal Of Federal Claims, Orders Remand

ATLANTA - The 11th Circuit U.S. Court of Appeals on July 8 affirmed a district court's dismissal of a complaint filed by borrowers who asserted that mortgage entities violated the Truth in Lending Act (TILA) and other federal laws but found that the case should have been remanded to the state court...

Mealey's Banking & Finance - 11th Circuit Finds Court Erred In Refusing Request To Amend Complaint

ATLANTA - The 11th Circuit U.S. Court of Appeals on July 9 vacated a district court's decision refusing to allow a borrower to amend her complaint in relation to the attempted foreclosure on her property (Sandra Carter v. HSBC Mortgage Services Inc., No. 14-11898, 11th Cir.; 2015 U.S. App. LEXIS...

Mealey's Banking & Finance - 7th Circuit Finds It Lacks Jurisdiction Over Foreclosure-Related Appeal

CHICAGO - After finding that a borrower's foreclosure-related claims are still pending before a federal district court, the Seventh Circuit U.S. Court of Appeals on July 13 dismissed the case for lack of jurisdiction (Wendy B. Adelson v. Ocwen Financial Corporation, et al., No. 14-3707, 7th Cir.;...

Mealey's Banking & Finance - 3rd Circuit Finds Green Tree Violated FDCPA With Phone Calls

PHILADELPHIA - The Third Circuit U.S. Court of Appeals on July 13 affirmed a district court's decision finding that a servicing company violated the Fair Debt Collection Practices Act (FDCPA) when it repeatedly called a borrower's neighbor in an attempt to collect a debt and dismissed the appeal...

Mealey's Banking & Finance - 9th Circuit Finds Freddie Mac Had No Duty To Pay Insurance Premiums

SEATTLE - After finding that a lender did not assume a duty to pay insurance premiums into an escrow when it purchased a loan from a bankrupt lender, the Ninth Circuit U.S. Court of Appeals on July 14 affirmed dismissal of a borrower's breach of contract and fiduciary duty claims (Joel Johnson v...

Mealey's Banking & Finance - 6th Circuit Finds Class Action Filed By Borrowers Should Be Dismissed

CINCINNATI - After finding that several banks transferred only promissory notes and did not fail to record mortgage transfers, the Sixth Circuit U.S. Court of Appeals on July 16 reversed a decision that allowed a class action filed by Kentucky borrowers to proceed (Larry Higgins, et al. v. BAC Home Loans...

Mealey's Banking & Finance - 3rd Circuit Finds Borrower Lacked Standing To Challenge Foreclosure

PHILADELPHIA - A Third Circuit U.S. Court of Appeals panel on July 17 affirmed a district court's dismissal of a borrower's claims related to the transfer of his mortgage, finding that he lacked standing to challenge the foreclosure of the property (Robert M. Bauer v. Mortgage Electronic Registration...

Mealey's Banking & Finance - 6th Circuit Finds Motion To Remand Foreclosure-Related, Claim Was Time-Barred

CINCINNATI - After finding that a motion to remand a case filed by a property owner in relation to the foreclosure of her condominium was time-barred, the Sixth Circuit U.S. Court of Appeals on July 17 affirmed a decision that refused to remand the action and dismissed the case (Viola Chambers v. HSBC...

Mealey's Banking & Finance - 10th Circuit Affirms RulingFor Credit Union, Finds No TILA Violation

DENVER - The 10th Circuit U.S. Court of Appeals on July 24 affirmed a district court's ruling in favor of a credit union, finding that borrowers failed to show that it had violated the Truth in Lending Act (Elisabeth A. Shumaker, et al. v. Mountain America Credit Union, No. 14-4142, 10th Cir.; 2015...

Mealey's Banking & Finance - 3rd Circuit Rejects Challenge To Certification Of Class Based On Lending Scheme

PHILADELPHIA - The Third Circuit U.S. Court of Appeals on July 29 affirmed a district court's decision to certify a class of borrowers who alleged that two banks engaged in predatory lending practices, finding that all of the requirements for class certification were met (In re: Community Bank of...

Mealey's Banking & Finance - 7th Circuit Affirms Dismissal Of Quiet Title, Fraud And ICFA Claims

CHICAGO - After finding that a district court properly dismissed claims for quiet title and violation of Illinois law, the Seventh Circuit U.S. Court of Appeals on July 31 affirmed a district court's decision to grant summary judgment in favor of several lenders and mortgage entities (David Cocroft...

Mealey's Banking & Finance - 11th Circuit Finds No Evidence Of Wrongful Foreclosure By Bank

ATLANTA - After finding that a property owner's allegations that a bank wrongfully foreclosed on her property were conclusory, the 11th Circuit U.S. Court of Appeals on Aug. 5 affirmed a district court's ruling granting summary judgment in favor of the bank (Hope Bussenius v. Bank of America...

Mealey's Banking & Finance - 5th Circuit Finds TDCPA Claim Against Banks Fails, Affirms Dismissal

NEW ORLEANS - The Fifth Circuit U.S. Court of Appeals on Aug. 5 affirmed a district court's dismissal of claims for violation of Texas law and negligent misrepresentation, finding that they failed to show any actual damages and that they could not have filed for bankruptcy in an attempt to avoid...

Mealey's Banking & Finance - 2nd Circuit Vacates Court's Dismissal Of Borrower's FDCPA Claims

NEW YORK - After finding that a letter from a lender constituted a communication related to the collection of a debt, the Second Circuit U.S. Court of Appeals on Aug. 12 vacated a decision granting the lender's motion to dismiss the borrower's claims for violation of the Fair Debt Collection...

Mealey's Banking & Finance - 5th Circuit Affirms Dismissal Of TDCPA Claim Against Wells Fargo

NEW ORLEANS - The Fifth Circuit U.S. Court of Appeals on Aug. 13 affirmed dismissal of the one claim not abandoned by borrowers against a bank for violation of the Texas Debt Collection Act (TDCA), agreeing with the findings of a district court (Michael Bracken, et al. v. Wells Fargo Bank National Association...

Mealey's Banking & Finance - 11th Circuit Affirms Dismissal Of Claims As Barred By Rooker-Feldman

ATLANTA - The 11th Circuit U.S. Court of Appeals on Aug. 19 affirmed a district court's decision to dismiss borrowers' claims asserted for violation of the Troubled Asset Relief Program (TARP) and other claims for failure to state a claim and as barred by the doctrine established in Rooker v...

Mealey's Banking & Finance - 3rd Circuit Affirms Dismissal Of TILA And RESPA Claims, Remands

PHILADELPHIA - The Third Circuit U.S. Court of Appeals on Aug. 24 affirmed dismissal of claims asserted by borrowers for violation of the Real Estate Settlement Procedures Act (RESPA), the Truth in Lending Act (TILA) and other claims, but remanded the case so that they can have the chance to amend their...

Mealey's Banking & Finance - 11th Circuit Finds Bankruptcy Stay Did Not Prevent Foreclosure

ATLANTA - After finding that there was no bankruptcy stay in effect that would have prohibited a lender from foreclosing on a property, the 11th Circuit U.S. Court of Appeals on Aug. 21 affirmed a district court's dismissal of a borrower's wrongful foreclosure action (Althea Miley v. Thornburg...

Mealey's Banking & Finance - 8th Circuit Finds Bank Violated Bankruptcy Discharge Injunction

ST. LOUIS - The Eighth Circuit U.S. Court of Appeals on Aug. 25 found that a bank violated a bankruptcy court discharge injunction when it attempted to collect payments on a mortgage and affirmed a bankruptcy court's ruling to award the borrowers damages and fees (Venture Bank v. Howard L. Lapides...