LexisNexis® Legal Newsroom
Mealey's Banking & Finance - High Court Will Not Consider Scope Of FDCPA In Relation To Trustees

WASHINGTON, D.C. - The U.S. Supreme Court on Dec. 4 denied certiorari to a borrower, refusing to review whether a trustee is considered a debt collector under the Fair Debt Collection Practices Act (FDCPA) (Vien-Phuong Thi Ho v. ReconTrust Company, NA, et al., No. 17-278, U.S. Sup.).

Mealey's Banking & Finance - 5th Circuit Finds Loan Transaction Was Not Void, Affirms Dismissal

NEW ORLEANS - After finding that a borrower failed to show that the sale of a mortgage between lenders was void, the Fifth Circuit U.S. Court of Appeals on Dec. 1 affirmed a district court's summary judgment ruling for the lenders (David Johnson v. Real Estate Mortgage Network, et al., No. 17-20347...

Mealey's Banking & Finance - 2nd Circuit Vacates Ruling Denying Borrower Leave To Amend Complaint

NEW YORK - The Second Circuit U.S. Court of Appeals on Dec. 5 affirmed a district court's dismissal of a borrower's claims asserted against a lender and loan servicer related to his default on a mortgage, but vacated the court's denial of his request to amend his complaint and to add a new...

Mealey's Banking & Finance - 7th Circuit Affirms Dismissal Of TILA Rescission Claims As Untimely

CHICAGO - After finding that a former homeowner's right to file a lawsuit in relation to rescission under the Truth in Lending Act (TILA) had expired years before he filed his case against a bank, the Seventh Circuit U.S. Court of Appeals on Dec. 12 affirmed a decision to dismiss his claims as untimely...

Mealey's Banking & Finance - 10th Circuit Finds No Purchase Contract Existed Between Company And Lenders

DENVER - The 10th Circuit U.S. Court of Appeals on Dec. 14 affirmed a trial court's decision to dismiss a company's claims against two lenders, finding that the lenders never agreed to sell the company a foreclosed-on property and that a contract between the parties did not exist (West Maui Properties...

Mealey's Banking & Finance - Panel Reverses Dismissal Of Foreclosure Claim, Finds Case Was Not Precluded

LOS ANGELES - A California appeals court on Dec. 20 reversed a trial court's order finding that a borrower's claims for unlawful foreclosure were barred by a ruling in a previous lawsuit, finding that the first lawsuit was not decided on the merits (Paula Boyd v. David Freeman, No. B279246, Calif...

Mealey's Banking & Finance - Defaults Entered In Bank's Action For Declaration Against Tribe

FRESNO, Calif. - A California federal magistrate judge on Dec. 27 struck two pleadings filed by a purported Native American tribe and entered default against the tribe for failing to respond to a bank's complaint in a mortgage foreclosure dispute seeking a declaration that the tribe has no jurisdiction...

Mealey's Banking & Finance - States Reach $45M Settlement With PHH Mortgage Of Improper Servicing Claims

WASHINGTON, D.C. - A consent order was entered in a District of Columbia federal court Jan. 3 under which 48 states agreed to a $45,279,725 settlement with a mortgage servicer that engaged in the improper service of mortgage loans for several years (Alabama, et al. v. PHH Mortgage Corporation, No. 1...

Mealey's Banking & Finance - 11th Circuit Vacates Ruling For Bank, Finds Improper Notice Of Motion

ATLANTA - After finding that a borrower did not receive proper notice of a summary judgment motion filed by a bank related to his alleged default on a mortgage, the 11th Circuit U.S. Court of Appeals on Jan. 12 vacated a ruling in favor of the bank and remanded the case for further proceedings (First...

Mealey's Banking & Finance - Judge Allows Philadelphia's FHA Claims Against Wells Fargo To Proceed

PHILADELPHIA - A Pennsylvania federal judge on Jan. 16 refused to dismiss claims for violation of the Fair Housing Act (FHA), finding that the City of Philadelphia sufficiently pleaded allegations to allow claims that a bank engaged in discriminatory lending practices in minority communities within the...

Mealey's Banking & Finance - 6th Circuit Deems RESPA, Other Claims Abandoned On Appeal

CINCINNATI - After finding that a borrower failed to raise any new arguments on appeal, the Sixth Circuit U.S. Court of Appeals on Jan. 18 affirmed a district court's decision finding no evidence to support a claim for violation of the Real Estate Settlement Procedures Act (RESPA) and other causes...

Mealey's Banking & Finance - 10th Circuit Reverses Dismissal Of Borrower's Claims Under Rooker-Feldman

DENVER - The 10th Circuit U.S. Court of Appeals on Jan. 23 found that a borrower's federal claims were not barred under the doctrine established in Rooker v. Fidelity Trust Co., 263 U.S. 413 (1923), and District of Columbia Court of Appeals v. Feldman, 460 U.S. 462 (1983), because she was not challenging...

Mealey's Banking & Finance - 11th Circuit Affirms Dismissal Of Claims Related To Loan Assignment

ATLANTA - The 11th Circuit U.S. Court of Appeals on Jan. 22 affirmed a district court's ruling dismissing causes of action for violation of the Truth In Lending Act (TILA), the Real Estate Settlement and Procedures Act (RESPA) and other claims asserted by a borrower against a bank and loan servicer...

Mealey's Banking & Finance - 11th Circuit Finds Statute Of Limitations Does Not Bar Foreclosure

ATLANTA - After finding that no statute of limitations applied to a foreclosure action, the 11th Circuit U.S. Court of Appeals on Jan. 26 affirmed a district court's ruling granting a bank's motion to dismiss a borrower's declaratory relief action (Jacklyn Manyoma v. Bank of New York, et...

Mealey's Banking & Finance - 2nd Circuit Partially Reverses Sanctions Order, Affirms Ruling For Countrywide

NEW YORK - The Second Circuit U.S. Court of Appeals on Jan. 29 affirmed an order of sanctions against a borrower and her attorney related to her request to file a fourth amended complaint against a lender, but found that part of the sanctions awarded against the attorney were not warranted (Hutter v...

Mealey's Banking & Finance - 9th Circuit Reverses Dismissal Of CCRA Claims Against Bank Of America

SAN FRANCISCO - The Ninth Circuit U.S. Court of Appeals on Feb. 1 affirmed a district court's decision in favor of a bank on a borrower's claims for violation of California's unfair competition law (UCL) and other claims, but reversed the ruling on her claim for violation of the Consumer...

Mealey's Banking & Finance - 11th Circuit Affirms Dismissal Of TILA Claims, Finds No Right To Rescission

ATLANTA - The 11th Circuit U.S. Court of Appeals on Feb. 2 found that a borrower failed to state a claim against lenders and a loan servicer for violation of the Truth in Lending Act (TILA), affirming a district court's dismissal of her complaint related to a property foreclosure (Colette Marquis...

Mealey's Banking & Finance - 11th Circuit Finds Borrower Had No Claim For TILA Rescission

ATLANTA - After finding that a borrower was prohibited from asserting a claim for rescission under the Truth in Lending Act (TILA) because he obtained a residential mortgage, the 11th Circuit U.S. Court of Appeals on Feb. 6 affirmed dismissal of a complaint against lenders for failure to state a claim...

Mealey's Banking & Finance - 6th Circuit Reverses Ruling For Borrowers For Lack Of Jurisdiction

CINCINNATI - The Sixth Circuit U.S. Court of Appeals on Feb. 16 reversed a summary judgment ruling in favor of borrowers on their claims for violation of federal and Ohio state law, finding that letters sent by a law firm to them did not cause them to suffer an injury and that the district court lacked...

Mealey's Banking & Finance - Foreclosure-Related Claims Were Precluded, Untimely, 10th Circuit Holds

DENVER - The 10th Circuit U.S. Court of Appeals on April 27 affirmed a trial court's ruling that a trust's claims related to a foreclosure were precluded and untimely, affirming the decision in favor of two banks and a loan servicer (John J. Pembroke Living Trust v. U.S. Bank National Association...

Mealey's Banking & Finance - Trial Court Committed No Error In Ruling For GMAC, Ohio Panel Rules

WARREN, Ohio - After finding that a loan servicer held a note and mortgage at the time it commenced foreclosure proceedings against former property owners, an Ohio appeals court on April 30 affirmed a summary judgment ruling and foreclosure decree entered in favor of the servicer (GMAC Mortgage LLC,...

Mealey's Banking & Finance - 3rd Circuit Holds TILA Rescission Claims Were Untimely

PHILADELPHIA - The Third Circuit U.S. Court of Appeals on May 8 affirmed a district court's decision in favor of a loan servicer, finding that a borrower's claims for violation of the Truth in Lending Act (TILA) were untimely (Ariel Barel v. Green Tree Servicing, LLC, a/k/a Ditech Financial,...

Mealey's Banking & Finance - Borrower Appeals Summary Judgment Ruling For Wells Fargo To 9th Circuit

SACRAMENTO, Calif. - A borrower who alleged that a bank violated California's unfair competition law (UCL) and other laws when it refused to accept his untimely mortgage payment as part of a trial period plan on May 16 filed a notice of an appeal to the Ninth Circuit U.S. Court of Appeals of a judge's...

Mealey's Banking & Finance - Freddie Mac Properly Removed Quiet Title Lawsuit, 3rd Circuit Holds

PHILADELPHIA - Noting that the Federal Home Loan Mortgage Corp. (Freddie Mac) has the authority to remove a case in which it is named as a party to federal court, the Third Circuit U.S. Court of Appeals on May 15 found that a district court had jurisdiction over a borrower's claims against lenders...

Mealey's Banking & Finance - 5th Circuit Holds Trust Failed To Give Proper Notice Of Intent To Accelerate Debt

NEW ORLEANS - The Fifth Circuit U.S. Court of Appeals on May 21 reversed a judgment that allowed a trust to foreclose on a property, finding that the trust failed to give the borrowers proper notice of its intent to accelerate their loan before filing a foreclosure lawsuit (Wilmington Trust, et al. v...