LexisNexis® Legal Newsroom
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...

Mealey's Banking & Finance - Judge Allows TCPA Claims Against Mortgage Company To Proceed

TAMPA, Fla. - A Florida federal judge on May 5 allowed certain claims asserted by a borrower who alleged that a mortgage company violated the Telephone Consumer Protection Act (TCPA) by leaving automated messages on her phone in relation to the collection of mortgage debt, but dismissed her claim for...

Mealey's Banking & Finance - Federal Magistrate Dismisses Predatory Lending Claims For Failure To Prosecute

NEWARK, N.J. - After finding that numerous plaintiffs failed to prosecute their claims in relation to alleged predatory lending practices, a New Jersey federal magistrate judge on May 4 recommended that the court dismiss their claims (Leonard Calvaruso, et al. v. JP Morgan Chase Bank, N.A., No. 14-4515...

Mealey's Banking & Finance - Federal Judge Grants Motion For Default Ruling Against Lenders

TRENTON, N.J. - After finding that a borrower sufficiently pleaded her claim for violation of the New Jersey Consumer Fraud Act (CFA), a New Jersey federal judge on May 6 granted her motion for a default ruling against various lenders (Maria Galarza v. Lydian Private Bank, et al., No. 12-2729, D. N.J...

Mealey's Banking & Finance - Federal Judge Awards Class Counsel Fees Related To Sanctions

NEW YORK - A New York federal judge on May 6 found that counsel for a borrower who asserted class action claims related to alleged breaches of contract and the Truth in Lending Act (TILA) was entitled to an award of fees incurred during the case (Joseph Mazzei, et al. v. The Money Store, et al., No....

Mealey's Banking & Finance - 11th Circuit Finds Lenders Had Authority To Foreclose On Property

ATLANTA - The 11th Circuit U.S. Court of Appeals on May 7 affirmed a trial court's decision to dismiss a complaint filed by the administrator of an estate in relation to the foreclosure of his wife's property, finding that the defendants in the case had the authority to foreclose on the home...

Mealey's Banking & Finance - Judge Dismisses Claims Against Bank In Suit Over Force-Placed Insurance Practices

FORT LAUDERDALE, Fla. - A Florida federal judge on May 5 granted a bank's motion to dismiss claims in a class action lawsuit alleging that the bank and insurers colluded to manipulate the force-placed insurance market and artificially inflated the amounts that mortgage borrowers were charged for...

Mealey's Banking & Finance - Judge Refuses To Reconsider Dismissal Of Mortgage Entities From Case

OAKLAND, Calif. - A California federal judge on May 7 refused to reconsider a decision to dismiss several defendants from a foreclosure-related case, finding that the borrowers failed to show that the court erred or that reconsideration was warranted (Rodrick I. Satre, et al. v. Wells Fargo Bank, N.A...

Mealey's Banking & Finance - Federal Judge Orders Bank To Submit Supplemental Information On Fees

RENO, Nev. - A Nevada federal judge on May 11 ordered that a bank provide supplemental details in relation to its request for fees incurred during a wrongful foreclosure-related case (Leslie J. Shaw v. Citimortgage Inc., et al., No. 3:13-CV-0445, D. Nev.; 2015 U.S. Dist. LEXIS 61494).

Federal Judge Dismisses Negligence And Fraud Claims Against Lenders

SAN JOSE, Calif. - After finding that a borrower failed to properly plead her claims asserted against a lender and servicing entity in relation to the denial of a loan modification, a California federal judge on May 11 granted a motion to dismiss the claims (Rafael Villanueva v. Select Portfolio Services...

Mealey's Banking & Finance - Federal Judge Finds RESPA And HOEPA Claims Are Time-Barred

NEWARK, N.J. - A New Jersey federal judge on May 12 granted a motion to dismiss numerous claims asserted by a borrower attempting to avoid foreclosure, finding that his claims for violation of the Real Estate Settlement Procedures Act (RESPA) and the Home Ownership Equity Protection Act (HOEPA) were...

Mealey's Banking & Finance - Federal Judge Finds Wells Fargo Had Authority To Foreclose

AUSTIN, Texas - After finding that a bank had the authority to foreclose on a residential property, a Texas federal judge on May 11 granted its motion to dismiss the case (Loretta Wilkinson v. Wells Fargo Bank, N.A., et al., No. 15-CA-249, W.D. Texas; 2015 U.S. Dist. LEXIS 61638).

Mealey's Banking & Finance - Judge Allows Borrower Leave To Amend California Law Claims

SAN FRANCISCO - A California federal judge on May 12 found that a borrower who sued a bank in relation to a loan modification and the foreclosure of her property should be granted leave to amend her complaint to cure deficiencies related to her claim for violation of California law (Maria Villacis v...

Mealey's Banking & Finance - Judge Refuses To Grant Restraining Order Barring Possession Of Property

SACRAMENTO, Calif. - A California federal judge on May 13 refused to grant a temporary restraining order prohibiting lenders from taking possession of a property until the litigation concludes, finding that there were not enough facts available to show that the plaintiff will prevail on her claims (Constance...

Mealey's Banking & Finance - Federal Judge Refuses To Grant Restraining Order Barring Property Foreclosure

GREENBELT, Md. - After finding that it was unlikely that a borrower will succeed on her claims for violation of the Truth in Lending Act (TILA) and the Real Estate Settlement Procedures Act (RESPA), a Maryland federal judge on May 14 refused to grant her a temporary restraining order prohibiting the...

Mealey's Banking & Finance - 2nd Circuit: Individual Claims May Proceed Despite Offer Of Relief

NEW YORK - A bank's offer of complete relief in a class complaint over overdraft fees did not render the case moot, the Second Circuit U.S. Court of Appeals ruled May 14, affirming a district court's ruling but doing so on an alternative ground (Patrick Tanasi, et al. v. New Alliance Bank, et...

Mealey's Banking & Finance - 9th Circuit Affirms Dismissal Of Concealment Claim As Premature

PASADENA, Calif. - The Ninth Circuit U.S. Court of Appeals on May 18 affirmed a ruling dismissing claims asserted by a borrower seeking to avoid a deficiency judgment in relation to his property, finding that the claims were premature (Anthony Marino v. Countrywide Financial Corp., n.k.a. Bank of America...

Mealey's Banking & Finance - 4th Circuit Affirms Dismissal Of Claims For Violation Of FCRA

RICHMOND, Va. - The Fourth Circuit U.S. Court of Appeals on May 20 affirmed a trial court's dismissal of a claim for violation of the Fair Credit Reporting Act (FCRA), finding that the borrowers failed to properly state a claim to support their class action complaint (Byron R. Bartlett, et al. v...

Mealey's Banking & Finance - Federal Judge Dismisses TILA Claim Against Wells Fargo As Time-Barred

OAKLAND, Calif. - After finding that a claim for violation of the Truth in Lending Act (TILA) was time-barred, a California federal judge on May 21 granted a bank's request to dismiss an action filed against it in relation to unsuccessful requests for a loan modification (John Fink, et al. v. Wells...

Mealey's Banking & Finance - Federal Judge Finds TILA And UCL Claims Barred By Res Judicata

OAKLAND, Calif. - A California federal judge on May 22 granted a bank's motion to dismiss a wrongful foreclosure case against it, finding that a borrower's claims for violation of the Truth in Lending Act (TILA) and California's unfair competition law (UCL) were barred by res judicata (Arketha...

Mealey's Banking & Finance - Federal Judge Dismisses Wrongful Foreclosure Case For Failure To State Claim

MEMPHIS, Tenn. - A Tennessee federal judge on May 26 adopted a magistrate judge's recommendation to grant motions filed by several lenders to dismiss a wrongful foreclosure action against them, finding that the homeowners failed to state a claim for relief (Paul Renfroe, et al. v. Flagstar Bank,...

Mealey's Banking & Finance - Federal Judge Finds Lack Of Evidence To Support Injunctive Relief

DETROIT - After finding that homeowners failed to submit any evidentiary support to show that they are likely to succeed on the merits of their wrongful foreclosure-related claims, a Michigan federal judge on May 27 denied their motion for a temporary restraining order (Danny Koole, et al. v. Wells Fargo...

Mealey's Banking & Finance - Federal Judge Finds No Evidence To Support Fraud And UCL Claims Against Bank

SAN FRANCISCO - A California federal magistrate judge on May 26 granted a bank's motion to dismiss claims for fraud and violation of California's unfair competition law (UCL), finding that they failed to submit any evidence showing that a genuine issue exists for trial (Michael Peterson, et al...

Mealey's Banking & Finance - Federal Judge Allows Borrower's California Law Claims To Proceed

OAKLAND, Calif. - A California federal judge on May 27 found that a property owner failed to properly plead her claim under California Civil Code Section 2923.6 and dismissed the claim with leave to amend, but allowed her claims for violations of Section 2924.12 and California Business and Professions...