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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...

Mealey's Banking & Finance - 2nd Circuit Affirms Dismissal Of Fraud Claims As Time-Barred

NEW YORK - The Second Circuit U.S. Court of Appeals on March 12 affirmed the dismissal of claims related to alleged mortgage fraud, finding that equitable tolling was not applicable and that the complaint was time-barred (Sunita Deswal, et al. v. US National Association, et al., No. 14-2169, 2nd Cir...

Mealey's Banking & Finance - 7th Circuit Finds Bank Violated TILA, Remands Payment Dispute

CHICAGO - The Seventh Circuit U.S. Court of Appeals on March 11 found that a bank was required to credit a consumer's mortgage payment as soon as it reached the servicer under the Truth in Lending Act (TILA), reversing a trial court's ruling granting judgment in favor of the bank (Elena Fridman...

Mealey's Banking & Finance - 5th Circuit Finds Joinder Issue Should Be Decided By Trial Court, Remands

NEW ORLEANS - After finding that whether several defendants were improperly joined into a lawsuit filed by borrowers was an issue for a federal district court to decide, the Fifth Circuit U.S. Court of Appeals on March 20 vacated a decision granting judgment for lenders and remanded the case for further...

Mealey's Banking & Finance - 5th Circuit Finds No Discovery Abuse In Fraud Case Against Bank

NEW ORLEANS - The Fifth Circuit U.S. Court of Appeals on March 23 affirmed a trial court's decision to grant summary judgment for a bank and found no evidence to support a finding of discovery abuse (Chong H. Choe, et al. v. Bank of America, N.A., No. 14-10826, 5th Cir.; 2015 U.S. App. LEXIS 4741...

Mealey's Banking & Finance - 10th Circuit Affirms Dismissal Of FDCPA Claims Against Chase

DENVER - The 10th Circuit U.S. Court of Appeals on March 25 affirmed a district court's decision that dismissed a borrower's claims for violation of the Fair Debt Collection Practices Act (FDCPA) and other claims, finding that he failed to show that he was deprived of his due process rights in...

Mealey's Banking & Finance - 11th Circuit Finds Foreclosure Case Is Barred By Collateral Estoppel

ATLANTA - After finding that a lawsuit filed by borrowers in relation to their mortgage was barred by a previous case they filed, the 11th Circuit U.S. Court of Appeals on April 2 affirmed dismissal of the action (John H. McCulley, et al. v. Bank of America N.A., No. 14-12713, 11th Cir.; 2015 U.S. App...

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 - 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 - 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 - 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 - 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...