LexisNexis® Legal Newsroom
Mealey's Banking & Finance - 9th Circuit Finds Chase Falsely Promised Loan Modification To Borrower

LOS ANGELES - The Ninth Circuit U.S. Court of Appeals on March 13 affirmed a district court's finding that a property owner asserted a viable claim for violation of California's unfair competition law (UCL) but reversed its rulings in favor of a bank on the property owner's claims for breach...

Mealey's Banking & Finance - Judge Finds Claims Against Wells Fargo Were Adjudicated In Previous Cases

SEATTLE - A Washington federal judge on March 15 granted judgment for a bank, finding that a borrower's claims related to a nonjudicial foreclosure were barred because the same facts underlying the case were already asserted in two other previously filed actions (Paul Frederick Genung v. Clear Recon...

Mealey's Banking & Finance - 5th Circuit Finds Banks Timely Foreclosed, Affirms Decision On Tolling Period

NEW ORLEANS - The Fifth Circuit U.S. Court of Appeals on March 16 affirmed a district court's judgment in favor of two banks, finding that a nonjudicial foreclosure of a property was not barred by a four-year statute of limitations (John Porterfield, et al. v. JP Morgan Chase, N.A., No. 16-50215...

Mealey's Banking & Finance - Federal Judge Finds RESPA Claim Related To Loss Mitigation Fails

FLORENCE, S.C. - A Michigan federal judge on March 21 found that a borrower failed to allege a violation of the Real Estate Settlement Procedures Act (RESPA) in relation to the denial of her loan modification application, finding that even if her claims against the lenders were true, she failed to state...

Mealey's Banking & Finance - Judge Finds Default Did Not Relieve Lender Of Contractual Obligations

DETROIT - A Michigan federal judge on March 21 refused to dismiss a former property owner's claims that a lender breached a settlement agreement when it refused to consider his loan modification, finding that the lender failed to show that dismissal was warranted (Dominick Gray v. CitiMortgage Inc...

Mealey's Banking & Finance - Judge Overrules Objections In Foreclosure-Related Action Against Lenders

MONTGOMERY, Ala. - An Alabama federal judge on March 22 overruled objections submitted by lenders and a borrower to a magistrate judge's report and recommendation that some claims related to a foreclosure be allowed to proceed but noted that some of the objections would be better adjudicated on summary...

Mealey's Banking & Finance - California Court Affirms Demurrer, Finds Borrowers Had No Interest In Property

SAN FRANCISCO - A California court on March 22 affirmed a trial court's decision to grant a demurrer filed by a mortgage company to a complaint filed by borrowers in relation to a foreclosure, finding that they did not allege sufficient facts to support their claim for violation of California's...

Mealey's Banking & Finance - Judge: Factors Weigh In Favor Of Federal Court Retaining Jurisdiction

BLUEFIELD, W.Va. - A West Virginia federal judge on March 23 refused to dismiss an insurer's declaratory judgment lawsuit challenging coverage for a lawsuit alleging that the insured's employee filed fraudulent tax returns, finding that the factors weigh in favor of the federal court retaining...

Mealey's Banking & Finance - Judge Allows Amended Claims For Declaratory Relief Against Ocwen

HOUSTON - A Texas federal judge on March 28 partially granted a motion filed by former property owners to amend their complaint against a loan servicer in relation to a foreclosure action, finding that amendment of their common-law fraud claim would be futile (Roger Law, et al. v. Ocwen Loan Servicing...

Mealey's Banking & Finance - 7th Circuit Finds RESPA, Other Claims Are Barred By State Court Ruling

CHICAGO - The Seventh Circuit U.S. Court of Appeals on March 29 affirmed the dismissal of the majority of a borrower's claims against various lenders and their legal counsel for lack of jurisdiction, but modified the ruling to allow for dismissal without prejudice (Eric Mains v. Citibank, N.A., et...

Mealey's Banking & Finance - Judge Finds Trust Is Party To Lawsuit, Remands Quiet Title Case To Texas Court

GALVESTON, Texas - After finding that the true party to a lawsuit filed by a borrower in relation to a lien on its property was a business trust and not bank, a Texas federal court remanded a case to state court for lack of jurisdiction (Pechua Inc. v. America's Wholesale Lender, et al., No. 3:16...

Mealey's Banking & Finance - Court Affirms Dismissal Of Foreclosure-Related Claims Against Housing Agency

CHICAGO - The Seventh Circuit U.S. Court of Appeals on March 31 found that a borrower's claims against a federal housing agency were barred by the Housing and Economic Recovery Act because the act provides a cause of action only to regulated entities (Jody Kimbrell v. Federal Housing Finance Agency...

Mealey's Banking & Finance - Judge Finds No Federal Jurisdiction Over Senior Resident's Civil Rights Case

BALTIMORE - A Maryland federal judge on March 31 dismissed a lawsuit filed by a senior citizen who sought damages and an order preventing a property foreclosure, finding that her vague civil rights allegations did not support federal jurisdiction (Yvonne Roundtree v. Anthony Onwaunibe, et al., No. 16...

Mealey's Banking & Finance - Panel Reverses Ruling Against Insurers In Dispute Prompted By Hedge Fund Collapse

CHICAGO - An Illinois appeals panel on March 31 held that second- and third-level excess insurers' exhaustion provisions were unambiguous and must be enforced as written, reversing and remanding a lower court's ruling against the excess insurers in a coverage dispute arising from the collapse...

Mealey's Banking & Finance - Judge Grants Judgment To Lender On Claims Related To Debt Collection

BALTIMORE - A Maryland federal judge on April 4 granted summary judgment in favor of a mortgage lender on claims asserted by borrowers for violation of Maryland and federal law in relation to debt collection practices, finding that the lender was not required to comply with loss mitigation procedures...

Mealey's Banking & Finance - Judge Dismisses Claims Against Bank And Servicer Based On Inspection Fees

CHICAGO - An Illinois federal judge on April 3 dismissed a property owner's claims related to fees incurred for default-related property inspections she incurred while still allegedly residing in her home, finding that she failed to assert that she complied with a notice provision in her mortgage...

Mealey's Banking & Finance - 2nd Circuit Finds Loan Servicer Gave Proper Notices Under TILA

NEW YORK - The Second Circuit U.S. Court of Appeals on April 3 affirmed the dismissal of a complaint filed by borrowers against a loan servicer, finding that the servicer properly notified them under the Truth in Lending Act (TILA) that the loan had been transferred (Weston Wright, et al. v. Green Tree...

Mealey's Banking & Finance - Federal Judge Finds No Facts Showing Loan Transfer Was Void

SAN DIEGO - A California federal judge on April 5 dismissed numerous claims asserted by a property owner, including causes of action for violations of California's unfair competition law (UCL) and the Real Estate Settlement Procedures Act (RESPA), finding that he failed to plead the claims with the...

Mealey's Banking & Finance - Judge Holds TILA Claim Is Barred, Finds Lack Of Federal Jurisdiction

SAN JOSE, Calif. - After finding a lack of federal jurisdiction over claims related to a foreclosure case and that amendment would be futile, a California federal judge on April 6 dismissed claims for violation of the Truth in Lending Act (TILA) and state law claims against a lender and trustee (Jose...

Mealey's Banking & Finance - Panel: Insurer Breached Duty To Defend Claims Of Suspicious 'Flip' Transactions

CHICAGO - The Seventh Circuit U.S. Court of Appeals on April 10 found that an errors and omissions liability insurer has a duty to defend against underlying claims that its title insurance agency insured executed real estate "flip" transactions "contrary to the spirit and purpose"...

Mealey's Banking & Finance - Judge Finds Lenders And Trust Did Not Violate California Housing Law

SAN FRANCISCO - A California federal judge on April 10 dismissed a borrower's claims for violation of California's unfair competition law (UCL), negligence and other claims related to foreclosure proceedings, finding that she failed to show that she was not notified of a denial of a loan modification...

Mealey's Banking & Finance - Judge Stays Pending Appeal On Whether Nevada Law Is Unconstitutional

LAS VEGAS - A Nevada federal judge on April 17 stayed an action in which the parties seek relief related to the nonjudicial foreclosure of a homeowners association, pending the exhaustion of all appeals in a petition currently pending before the U.S. Supreme Court, which seeks review of an appeals court...

Mealey's Banking & Finance - Judge Grants Dismissal For Lenders, Finds Borrower Failed To Prosecute

SAN DIEGO - A California federal judge on April 14 dismissed a borrower's complaint asserting causes of action for wrongful foreclosure and violation of the Truth in Lending Act (TILA) after he failed to litigate the case or follow a previous order of the court (Hans D'Oleire v. Select Portfolio...

Mealey's Banking & Finance - Judge Finds TILA Claims And Action Seeking To Enjoin Eviction Are Barred

TOLEDO, Ohio - An Ohio federal judge on April 19 refused to grant former property owners a temporary restraining order enjoining lenders from evicting them from a property, finding that their claims were already adjudicated in a state court foreclosure action (Barbara Jacobs, et al. v. JP Morgan Chase...

Mealey's Banking & Finance - Federal Judge Finds Claims Related To Modification Request Can Proceed

KANSAS CITY, Kan. - A Kansas federal judge on April 20 partially granted a motion filed by a loan management company to dismiss numerous claims asserted against it in relation to the denial of a loan modification, but found that claims for violation of the Truth In Lending Act (TILA) and Regulation X...