LexisNexis® Legal Newsroom
Judge Orders Mediation For Texas Rangers, Lenders

FORT WORTH, Texas - (AP) A federal bankruptcy judge ordered the Texas Rangers and their angry creditors into mediation Thursday, pushing any resolution of the long-delayed sale dangerously close to a deadline that could be crucial to the team's playoff hopes. U.S. Bankruptcy Judge D. Michael Lynn...

Tribune Co. Creditors Sue Banks Behind 2007 Buyout

NEW YORK - (AP) A group of Tribune Co. creditors filed a lawsuit Friday alleging the media company's nearly two-year stint in bankruptcy protection might have been averted if not for the greed of big banks who saddled the business with more debt than it could afford to repay. Full version available...

Ballard Spahr LLP: Lender’s Use of Photocopied Note OK’d by Utah Court

By Angela W. Adams , Steven D. Burt , and Anthony C. Kaye In a victory for lenders, a Utah appellate court has ruled that a photocopy of a note is ordinarily acceptable in court, and that a borrower who demands the original note must establish a basis for questioning the authenticity of the...

Ballard Spahr LLP: HUD Announces Final Rule to Continue FHA Reforms

By Richard J. Andreano, Jr. , John D. Socknat and Michael S. Waldron As part of its continuing efforts to protect and strengthen the Federal Housing Administration insured mortgage program, the U.S. Department of Housing and Urban Development has published a final rule on lender requirements to indemnify...

Federal Government, State AGs Reach $25 Billion Agreement With Banks Over Foreclosures

WASHINGTON, D.C. - (Mealey's) The U.S. Department of Justice (DOJ) announced Feb. 9 that the federal government, attorneys general from 49 states and five national banks have reached a $25 billion settlement to resolve issues stemming from the lenders' allegedly fraudulent foreclosure practices...

Vetstein Law Group: Breaking News: Massachusetts Joins National Foreclosure Abuse Settlement

By Richard D. Vetstein, ESQ In the largest national settlement since the tobacco litigation, the Boston Globe is reporting that Massachusetts Attorney General Martha Coakley is expected today to sign on to a settlement brokered by attorneys general nationwide with five major US lenders over the banks'...

$25B Settlement Agreement Reached With 5 National Banks Over Foreclosure Practices

WASHINGTON, D.C. - (Mealey's) The U.S. Department of Justice (DOJ) announced Feb. 9 that the federal government, attorneys general from 49 states and five national banks have reached a $25 billion settlement to resolve issues stemming from the lenders' allegedly fraudulent foreclosure practices...

Real Cases in Real Estate By Andrea Lee Negroni, Esq. – May 29th, 2012 Update

Real Cases in Real Estate is a weekly update on real estate law, with legal principles illustrated and explained by lawsuits from around the country. The topics are wide-ranging for appeal to a broad spectrum of readers including lawyers, homeowners, investors and the general public. Andrea Lee...

Ballard Spahr LLP: Lender’s Oral Promise to Postpone Foreclosure Unenforceable, Eighth Circuit Holds

By the Consumer Financial Services Group A lender's oral promise to postpone a foreclosure sale of a borrower's home is a "credit agreement" that must be in writing to be enforceable under the Minnesota Credit Agreement Statute (MCA), the U.S. Court of Appeals for the Eighth Circuit...

Vetstein Law Group: Averting The Apocalypse: Foreclosing Lenders Avoid Disaster and Given More Options To Foreclose In Eaton v. Fannie Mae Case

By Richard D. Vetstein, ESQ Score One For Lenders and Mortgage Servicers In Long-Awaited Eaton v. Fannie Mae Case The Massachusetts real estate community has been waiting 8 long months for a decision from the Massachusetts Supreme Judicial Court (SJC) in the much anticipated Eaton v. Federal National...

Wells Fargo Bank To Pay $175M To Settle Mortgage Discrimination Claims

WASHINGTON, D.C. - (Mealeys) In what the U.S. Department of Justice is calling the second largest fair lending settlement in the department's history, Wells Fargo Bank NA today agreed to pay more than $175 million to settle claims in a District of Columbia federal court that it discriminated...

Williams Mullen: Debate Continues over Liability Protection for Lenders: Safe Harbor verses Rebuttable Presumption for "Qualified Mortgages"

BY: J.P. MCGUIRE BOYD, JR. Fifteen months after the Federal Reserve Board proposed its initial ability-to-repay rule as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, no final rule has been adopted due in large part to the continuing debate over how to protect lenders...

Williams Mullen: Debate Continues over Liability Protection for Lenders: Safe Harbor verses Rebuttable Presumption for “Qualified Mortgages”

BY: J.P. MCGUIRE BOYD, JR. Fifteen months after the Federal Reserve Board proposed its initial ability-to-repay rule as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, no final rule has been adopted due in large part to the continuing debate over how to protect lenders...

Ballard Spahr LLP: California’s Residential Foreclosure Overhaul Signed Into Law

By Alan S. Petlak On July 11, 2012, California Governor Jerry Brown signed an overhaul to California's foreclosure laws to come into effect on January 1, 2013. The stated purpose of the new legislation is to ensure that, as part of the non-judicial foreclosure process, borrowers are considered...

BuckleySandler LLP: Lender Settles TILA, UDAP Claims Over HELOC Reductions

Excerpted from BuckleySandler LLP's InfoBytes Blog, which monitors and reports on news, legal developments and legislative actions affecting the financial services industry. For more Infobytes , click here: http://www.infobytesblog.com/ . On August 31, a lender preliminarily settled with a class...

Vetstein Law Group: Massachusetts SJC Issues Another Important Foreclosure Ruling In HSBC Bank v. Matt

By Richard D. Vetstein, ESQ Legal Standing For Mortgage Lender/Servicer Must Be Established To Start Foreclosure Today [January 14th] the Massachusetts Supreme Judicial Court has issued what I believe to be another very important ruling involving foreclosures in the case of HSBC Bank v. Matt (embedded...

Troutman Sanders LLP: North Carolina Court of Appeals Forestalls Borrower’s Attempt to Collaterally Attack Foreclosure Proceeding

By John C. Lynch and D. Kyle Deak On Plaintiff's appeal of dismissal of his Complaint seeking to challenge the authority of the lender to foreclose, the Court of Appeals affirmed the Superior Court's dismissal and found that Plaintiff's failure to properly and timely appeal the Order of...

Fourth Circuit Limits Liability under Maryland Mortgage Finder’s Fee Act

By Daniel J. Tobin, Alan S. Kaplinsky, Richard J. Andreano, John D. Socknat, and Michael S. Waldron In two recent opinions, the U.S. Court of Appeals for the Fourth Circuit substantially limited the potential scope of liability under the Maryland Finder’s Fee Act, [ enhanced version available...

Lender Allowed To Foreclose But Punished By Court For Violating Consumer Fraud Act

A New Jersey trial court has issued an interesting opinion, [ enhanced version available to lexis.com subscribers ], allowing a lender to foreclose but imposing significant limitations on the lender because the court concluded that the lender had violated the Consumer Fraud Act. In Freedom Mortgage...

“Zombie Homes” Legislation Introduced in New York

The Abandoned Property Neighborhood Relief Act of 2015 has been introduced in the New York State Senate and Assembly, prompting a Newsday article quoting Lexis author Bruce J. Bergman, author of Bergman on New York Mortgage Foreclosures (LexisNexis Matthew Bender). The legislation would require banks...