Litigation

Recent Posts

Bank Of America To Pay Borrowers $108 Million
Posted on 7 Jun 2010 by LexisNexis Litigation Resource Community Staff

WASHINGTON, D.C. - (AP) Bank of America will pay $108 million to settle federal charges that Countrywide Financial Corp., which it acquired nearly two years ago, collected outsized fees from borrowers facing foreclosure. It's the latest evidence of... Read More

FDIC Sues 3 Former Top Executives Of Failed WaMu
Posted on 18 Mar 2011 by LexisNexis Litigation Resource Community Staff

WASHINGTON, D.C. - (AP) Federal bank regulators have sued three former top executives of Washington Mutual, the biggest U.S. bank ever to fail, accusing them of negligence in allowing risky mortgage lending. The Federal Deposit Insurance Corp. filed the... Read More

FDIC: 'Close' To Settlement In Lawsuit Against WaMu Execs
Posted on 22 Jun 2011 by LexisNexis Litigation Resource Community Staff

WASHINGTON, D.C. - (AP) Federal bank regulators say they are close to settling their civil lawsuit against three former top executives of Washington Mutual accused of negligence in allowing risky mortgage lending at the biggest U.S. bank ever to fail... Read More

U.S. Government Hits Bank Of America With $1 Billion Lawsuit Over Lending Program
Posted on 24 Oct 2012 by Timothy Raub

NEW YORK - (Mealey's) The U.S. government on Oct. 24 filed a $1 billion lawsuit against Bank of America Corp., as successor for Countrywide Financial Corp., alleging that Countrywide violated provisions of the False Claims Act by engaging in a scheme... Read More

Federal Government, State AGs Reach $25 Billion Agreement With Banks Over Foreclosures
Posted on 9 Feb 2012 by Shane Dilworth

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'... Read More

U.S. Supreme Court Agrees To Take Up Suit Over Unearned Fees For Settlement Services
Posted on 12 Oct 2011 by Shane Dilworth

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on Oct. 11 agreed to review a 2-1 ruling from the Fifth Circuit U.S. Court of Appeals finding that Quicken Loans Inc. did not violate the Real Estate Settlement Procedures Act (RESPA) when it charged... Read More

High Court: Plaintiffs Must Show That Parties Split Fees To Pursue RESPA Claim
Posted on 25 May 2012 by Shane Dilworth

WASHINGTON, D.C. - (Mealey's) A unanimous U.S. Supreme Court on May 24 upheld a Fifth Circuit U.S. Court of Appeals majority decision to award summary judgment to Quicken Loans Inc. after finding that plaintiffs must show that parties split fees from... Read More

Citigroup Inc. To Pay $158 Million To Settle Mortgage Lending Lawsuit
Posted on 16 Feb 2012 by Shane Dilworth

NEW YORK - (Mealey's) Citigroup Inc. on Feb. 15 agreed to pay $158.3 million to resolve a lawsuit brought by the federal government accusing the bank of failing to comply with Housing and Urban Development and Federal Housing Administration regulations... Read More

FTC Settles $108M Lawsuit With Countrywide Mortgage Loan Services
Posted on 8 Jun 2010 by Timothy Raub

WASHINGTON, D.C. - (Mealey's) In what the Federal Trade Commission is calling one of the "largest judgments imposed in an FTC case, and the largest mortgage servicing case," two Countrywide mortgage servicing companies will pay $108 million... Read More

High Court Agrees To Address Standing Issue In Lawsuit Against Title Insurer
Posted on 20 Jun 2011 by Shane Dilworth

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on June 20 decided that it would review a Ninth Circuit U.S. Court of Appeals ruling that a woman had standing to bring a suit against her title insurer for alleged violations of the Real Estate... Read More

U.S. Supreme Court Refuses To Review Ruling Upholding Dismissal Of RESPA Suit
Posted on 1 Oct 2012 by Shane Dilworth

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on Oct. 1 denied a couple's petition for a writ of certiorari seeking review of a Fifth Circuit U.S. Court of Appeals ruling that affirmed the dismissal of their suit accusing a loan servicer... Read More

Schwab Announces $200 Million Settlement Of Securities Class Action Lawsuit
Posted on 20 Apr 2010 by Timothy Raub

SAN FRANCISCO — (Mealey’s) The Charles Schwab Corp. has agreed to a $200 million settlement of a securities class action lawsuit brought against it and certain of its executive officers and directors by investors alleging that the defendants... Read More

Mortgage Litigation Rises, According To Report
Posted on 24 Jun 2010 by LexisNexis Litigation Resource Community Staff

DALLAS -- A surge in legal actions tied to foreclosures and investors-related cases helped push the Mortgage Litigation Index to an all-time high during the first quarter. Criminal cases more than doubled and mortgage insurance is emerging as an area... Read More

N.J. Supreme Court: Title Insurers Not Liable For Attorney's Misappropriation Of Funds
Posted on 3 Aug 2010 by Shane Dilworth

TRENTON, N.J. - (Mealey's) A unanimous New Jersey Supreme Court on Aug. 2 found that two title insurance companies cannot be held liable for an attorney's misappropriation of a couple's closing funds for a home sale because no agency relationship... Read More