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...

Mealey's Banking & Finance - 5th Circuit Affirms Bank Of America Provided Proper Notice Of Default

NEW ORLEANS - After finding that claims related to the refinancing of a property did not fall within the scope of the Texas Deceptive Trade Practices Act (DTPA), the Fifth Circuit U.S. Court of Appeals on Jan. 6 affirmed a summary judgment ruling in favor of a bank (Nathaniel Perkins v. Bank of America...

Mealey's Banking & Finance - Federal Judge Finds School District Lacks Standing To Sue Bank

LOS ANGELES - A California federal judge on Jan. 8 dismissed a complaint filed by the Los Angeles Unified School District (LAUSD) against several financial institutions, finding that it lacked standing to assert claims related to alleged discriminatory lending in minority neighborhoods (Los Angeles Unified...

Mealey's Banking & Finance - Supreme Court Finds Home Owners Had Right To Rescind Under TILA

WASHINGTON, D.C. - After finding that property owners gave written notice of their right to rescind under the Truth in Lending Act (TILA) within three years of their loan being consummated, the U.S. Supreme Court on Jan. 13 reversed a trial court's ruling granting judgment in favor of Countrywide...

Mealey's Banking & Finance - 11th Circuit Affirms Order Refusing To Reconsider Denial Of Time Extension

ATLANTA - After finding that a district court did not err in refusing to reconsider a decision denying an extension and entering judgment for lenders in relation to a home foreclosure, the 11th Circuit U.S. Court of Appeals on Jan. 12 affirmed a finding that the property owners improperly delayed filing...

Mealey's Banking & Finance - 5th Circuit Rejects Appeal Based On Full Faith And Credit Act

NEW ORLEANS - After finding that plaintiffs asserted the same claims in two underlying court actions, which were dismissed, the Fifth Circuit U.S. Court of Appeals on Jan. 15 rejected their appeal based on the Full Faith and Credit Act (Timothy Davis, et al. v. Chase Home Finance LLC, et al., No. 14...

Mealey's Banking & Finance - Lenders Agree To Pay $21 Million To Settle Federal Trade Commission Case

WASHINGTON, D.C. - The Federal Trade Commission on Jan 16 announced that two lending companies have reached a $21 million settlement, resolving claims that they charged consumers undisclosed and inflated fees (Federal Trade Commission v. AMG Services Inc., et al., No. 2: 12-cv-536, D. Nev.).

Mealey's Banking & Finance - 6th Circuit Finds Claims For FDCPA Violations Are Time-Barred

CINCINNATI - The Sixth Circuit U.S. Court of Appeals on Jan. 28 affirmed a trial court's ruling for a bank, finding that a former residential property owner's claims for violation of the Fair Debt Collection Practices Act (FDCPA) were time-barred (Inge Goodson v. Bank of America, N.A., No. 14...

Mealey's Banking & Finance - 3rd Circuit Affirms Dismissal Of Fraud Claims Against Bank

PHILADELPHIA - The Third Circuit U.S. Court of Appeals on Feb. 3 affirmed a district court's decision to dismiss claims for fraud, negligent misrepresentation and other claims asserted by mortgage holders against a bank and others, finding that the plaintiffs failed to provide any factual allegations...

Mealey's Banking & Finance - 4th Circuit Affirms Dismissal Of Maryland Consumer Fraud Claims

RICHMOND, Va. - The Fourth Circuit U.S. Court of Appeals on Feb. 10 affirmed dismissal of an estate representative's claims related to alleged force-placed insurance, finding that his claim for violation of Maryland consumer fraud statutes failed (Richard Castle, in his capacity as Personal Representative...

Mealey's Banking & Finance - 5th Circuit Vacates Decision Refusing To Remand Wrongful Foreclosure Case

NEW ORLEANS - The Fifth Circuit U.S. Court of Appeals on Feb. 11 vacated a decision refusing to remand a borrower's claims against numerous banks in relation to the alleged wrongful foreclosure of their property, finding that the federal court lacked jurisdiction (Owen Smith, et al. v. Bank of America...

Mealey's Banking & Finance - 7th Circuit Affirms Order Dismissing Claims, Sanctioning Attorney

CHICAGO - After finding that home owners repeatedly alleged the same claims in several court cases in relation to the foreclosure of their home, the Seventh Circuit U.S. Court of Appeals on Feb. 11 affirmed a decision dismissing their claims and ordering their attorney to pay sanctions (In re: Desa L...

Mealey's Banking & Finance - 9th Circuit Reverses Dismissal Of Claims For Quiet Title

SAN FRANCISCO - The Ninth Circuit U.S. Court of Appeals on Feb. 17 affirmed a trial court's decision to dismiss claims for wrongful foreclosure against lenders but found that their allegations related to the wrongful foreclosure of their property should be reversed (Jerry Scott, et al. v. RJJ Mortgage...

Mealey's Banking & Finance - 9th Circuit Affirms Dismissal Of Foreclosure-Related Claims Against PNC

PASADENA, Calif. - After finding that a property owner had no valid claim against a bank in relation to its attempts to foreclose on her residence, the Ninth Circuit U.S. Court of Appeals on Feb. 18 affirmed a district court's ruling dismissing the case (Denise Schmidt v. KSC PNC Bank, NA, et al...

Mealey's Banking & Finance - 11th Circuit Finds Borrower Had Standing, Affirms Dismissal Of RESPA claims

ATLANTA - The 11th Circuit U.S. Court of Appeals on Feb. 27 reversed a decision that a borrower lacked standing to bring claims against a title company and law firm but affirmed dismissal of her claims for violation of the Real Estate Settlement Procedures Act (RESPA) (Patricia L. Clements v. LSI Title...