LexisNexis® Legal Newsroom
Mealey's Banking & Finance - Panel: Bank's $7.77M Claim Fails To Meet Criteria To Trigger Bond Coverage

NEW ORLEANS - The Fifth Circuit U.S. Court of Appeals on Feb. 6 affirmed a lower federal court's finding that there is no coverage under a financial institution bond for a bank's $7.77 million loss caused by the purported fraudulent lending activities of its former employee, concluding that the...

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 - Judge Dismisses Majority Of Claims In Kickback Scheme Over Lender-Placed Insurance

CHICAGO - In a lawsuit alleging a kickback scheme in lender-placed insurance, an Illinois federal judge on Feb. 8 dismissed most of the claims except for breach of contract and bad faith claims pertaining to alleged overcharging of nonexistent inspections (Mariusz Dolegiewicz v. U.S. Bank Trust, N.A...

Mealey's Banking & Finance - Borrower Failed To Timely File Administrative Claim With FDIC, Judge Finds

WASHINGTON, D.C. - A District of Columbia federal judge on Feb. 12 dismissed declaratory relief and other claims asserted by a borrower against the Federal Deposit Insurance Corp. (FDIC), finding that the court lacked jurisdiction because the borrower did not file an administrative claim with the FDIC...

Mealey's Banking & Finance - Judge Partially Grants Dismissal For Nationstar, Rejects UCL, HBOR claims

SAN FRANCISCO - A California federal judge on Feb. 9 refused to dismiss a borrower's claims for breach of contract and negligence asserted by a borrower against a bank but found that the bank did not commit unlawful acts in violation California's unfair competition law (UCL) and that part of...

Mealey's Banking & Finance - High Court Refuses To Review Decision Finding TILA Recession Was Untimely

WASHINGTON, D.C. - The U.S. Supreme Court on Feb. 20 denied a petition for a writ of certiorari in which borrowers sought review of an appeals court ruling finding that their notice of rescission under the Truth in Lending Act (TILA) was untimely (Alan G. Keiran, et al. v. Home Capital Inc., et al.,...

Mealey's Banking & Finance - Bank Of New York Seeks Foreclosure In Delaware Court

WILMINGTON, Del. - A bank on Feb. 15 filed a complaint in a Delaware court, requesting that it enter an order foreclosing on a property (The Bank of New York Mellon v. Fred A. Bassano, No. 18L-02-067, Del. Super).

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 - Federal Judge Finds No Support For FDCPA Claim, Dismisses Complaint

LOS ANGELES - After finding that a borrower failed to submit any facts to support his claim for violation of the Fair Debt Collection Practices Act (FDCPA), a California federal judge on Feb. 16 granted a lender and loan servicer's motion to dismiss the complaint and declined to exercise jurisdiction...

Mealey's Banking & Finance - Judge Grants Dismissal For Banks, Allows Amendment Of HBOR, UCL Claims

SAN JOSE, Calif. - A California federal judge on Feb. 20 granted a motion filed by banks to dismiss causes of action asserted against them in relation to a mortgage for failure to state a claim, but granted a borrower leave to amend certain claims for violation of California housing law and California's...

Mealey's Banking & Finance - Federal Court Lacks Jurisdiction Over Foreclosure-Related Case, Judge Rules

GREENBELT, Md. - After finding that the court lacked jurisdiction over a case filed by borrowers related to a foreclosure, a Maryland federal judge on April 23 dismissed their claims against lenders and a law firm without leave to amend (Kamal Mustafa, et al. v. J.P. Morgan Chase Bank, N.A., No. 17-3516...

Mealey's Banking & Finance - Mortgage-Related Claims Were Properly Removed To Federal Court, Judge Holds

LOS ANGELES - Even though the damages sought by a borrower in relation to a loan modification from lenders and a loan servicer were significantly reduced in an amended complaint, a California federal judge on April 24 said the court had to rely on the amount sought in the original state court pleading...

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 - Judge Allows UCL, Wrongful Foreclosure Claims Against Wells Fargo To Proceed

OAKLAND, Calif. - After finding that a bank may have failed to properly review loan modification applications, a California federal judge on April 25 refused to dismiss borrowers' claims for wrongful foreclosure and violation of California's unfair competition law (UCL) (Michael Peterson, et...

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 - Philadelphia, Wells Fargo Ask Court To Keep Discovery In FHA Case Confidential

PHILADELPHIA - The city of Philadelphia and a bank on May 1 jointly moved a Pennsylvania federal court for entry of a confidentiality order in relation to discovery in a lawsuit in which the city alleges that the bank engaged in discriminatory lending practices in minority communities (Philadelphia v...

Mealey's Banking & Finance - Borrowers Adequately Pleaded FDCPA Claim, Federal Judge Rules

CHICAGO - After finding that borrowers sufficiently pleaded that they were allegedly misled into believing they were eligible for a deed in lieu of foreclosure, an Illinois federal judge on May 1 denied a request by lenders to dismiss their claim for violation of the Fair Debt Collection Procedures Act...

Mealey's Banking & Finance - Judge Dismisses HBOR, UCL Claims, Holds No Default Was Recorded

FRESNO, Calif. - A California federal judge on May 3 granted a motion filed by two lenders to dismiss claims for violation of California housing law and unfair competition law (UCL), finding that a borrower failed to request an alternative to foreclosure and to allege that a notice of sale was recorded...

Mealey's Banking & Finance - HOA Gave Proper Notice Of Foreclosure, Voided Bank's Interest, Judge Rules

LAS VEGAS - A Nevada federal judge on May 7 found that a homeowners association's notice of its intent to foreclose to the interested parties was sufficient to cure a constitutional defect in Nevada housing law and that a bank's interest in the property was extinguished (U.S. Bank National Association...

Mealey's Banking & Finance - Magistrate Dismisses Foreclosure-Related Case For Failure To Amend HBOR Claim

OAKLAND, Calif. - A California federal magistrate judge on May 7 entered a final order dismissing a borrower's claims against a bank and a trustee after she failed to file a timely complaint asserting an amended cause of action for violation of California's Homeowners Bill of Rights (HBOR) (So...

Mealey's Banking & Finance - Borrower Is Not Entitled To Injunction Preventing Foreclosure, Judge Holds

SAN FRANCISCO - A California federal judge on May 7 denied an application filed by a borrower who asserts causes of action for violation of California's unfair competition law (UCL) and the homeowner bill of rights for a temporary restraining order preventing a foreclosure, finding that he failed...

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 - Judge Grants Dismissal Of Claims That Wells Fargo Wrongly Charged Fees

SAN FRANCISCO - A California federal judge on May 14 found no facts to support causes of action asserted by a first-time homebuyer who alleged that Wells Fargo & Co. violated the Real Estate Settlement and Procedures Act (RESPA) and California's unfair competition law (UCL) when it improperly...

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...