LexisNexis® Legal Newsroom
Mealey's Banking & Finance - Judge Finds No Facts To Support Borrowers Claims Against Mortgage Trust

SAN FRANCISCO - A California federal judge on Nov. 29 granted a trust's motion to dismiss claims for violation of California's unfair competition law UCL, wrongful foreclosure and other causes of action asserted by a borrower, finding that all of the claims were barred by a statute of limitations...

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 - Judge Dismisses Seller's Claim For Liquidated Damages For Breach Of Contract

CHICAGO - An Illinois federal judge on Nov. 29 partially granted a motion filed by property investors who were unable to obtain a mortgage to dismiss a counterclaim by a seller for breach of contract for liquidated damages, finding that a liquidated damages provision in a modification to a purchase agreement...

Mealey's Banking & Finance - California Court Affirms Dismissal Of Borrower's UCL, Wrongful Foreclosure Claims

LOS ANGELES - A California appeals court on Dec. 4 affirmed a court's decision granting demurrers filed by mortgage-related entities on claims for violation of California's unfair competition law (UCL) and wrongful foreclosure, affirming the dismissal of the case (Richard Traister v. Ocwen Loan...

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 - Judge Allows UCL, Negligence Claims To Proceed Against Seterus Inc.

SACRAMENTO, Calif. - After determining that a borrower's claims for negligence and violation of California's unfair competition law (UCL) were properly pleaded, a California federal judge on Dec. 11 partially denied a lender's motion to dismiss the claims but granted the motion as to causes...

Mealey's Banking & Finance - Federal Judge Dismisses Fraud, Breach Of Contract Claims Against HSBC

HOUSTON - A Texas federal judge on Dec. 7 granted a bank's motion to dismiss claims for breach of contract and fraud asserted against it by a borrower who was attempting to enjoin foreclosure, finding that the property owner failed to state a claim upon which relief could be granted (Alan Battle...

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 - Panel Finds Court Erred In Dismissing Elder Abuse Claims Against Lenders

SAN FRANCISCO - After finding that the widow of a borrower, who obtained a reverse mortgage on a property that was later foreclosed on, sufficiently pleaded her claims for elder abuse and breach of contract, a California appeals court on Dec. 11 reversed a trial court's decision dismissing her claims...

Mealey's Banking & Finance - Judge Refuses To Enter Injunction Barring Property Foreclosure By Banks

SAN FRANCISCO - After finding no evidence to support a borrower's allegations regarding the chain of title of her mortgage, a California federal judge on Dec. 14 refused to grant a preliminary injunction enjoining a trust and lenders from foreclosing on her home (Mahsti Kashef v. Wells Fargo Bank...

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 - Michigan Federal Judge Refuses To Grant Injunction Preventing Property Foreclosure

DETROIT - A Michigan federal judge on Dec. 19 refused to grant a borrower a temporary injunction enjoining a loan servicer and banks from foreclosing on his home, finding that he failed to show that he would suffer irreparable harm if the injunction were not granted (Akib Abiola v. Select Portfolio Servicing...

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 - Federal Judge Finds Borrower Lacks Standing Under UCL, Dismisses Claims

SAN JOSE, Calif. - After finding that a borrower failed to show that he had standing to assert a claim for violation of California's unfair competition law (UCL) and that he failed to plead facts to support a claim for violation of California housing law, a California federal judge on Dec. 20 granted...

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 - Judge Finds Borrowers Lack Standing To Challenge Mortgage Assignment

CHARLOTTE, N.C. - A federal judge on Jan. 2 dismissed claims asserted by borrowers for cancellation of instruments and violation of North Carolina law, finding that they lacked standing to challenge a pooling service agreement and that they failed to show that lenders engaged in unfair or deceptive practices...

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 - Borrower Sues Lenders For Violations Of UCL, RESPA, Seeks Damages

LOS ANGELES - A former property owner on Jan. 2 sued a bank and various lenders in a California federal court, asserting causes of action for violation of the Truth in Lending Act (TILA), California's unfair competition law (UCL) and other causes of action related to a loan modification and the foreclosure...

Mealey's Banking & Finance - Judge Remands Wells Fargo's Foreclosure Action For Lack Of Jurisdiction

NEWARK, N.J. - A New Jersey federal judge on Jan. 3 adopted a magistrate judge's report and recommendation that the court lacked jurisdiction over a bank's foreclosure-related action and ordered that the case be remanded to a state court (Wells Fargo Bank, N.A. v. Crystal Fenty Dey-El, et al...

Mealey's Banking & Finance - Panel Finds Loan Was Not Void, Affirms Dismissal Of UCL, Fraud Claims

SANTA ANA, Calif. - A California appeals court on Jan. 5 affirmed the dismissal of claims for violation of California's unfair competition law (UCL), fraud and other claims asserted against lenders and a loan servicer, finding that borrowers failed to show that their original loan was void (Andrea...

Mealey's Banking & Finance - Federal Judge Finds TILA, RESPA, Fraud Claims Against GMAC Fail, Dismisses Case

ST. LOUIS - A Missouri federal judge on Jan. 9 granted a lender's motion to dismiss causes of action for violation of the Truth in Lending Act (TILA), fraud and other claims related to a property foreclosure, finding that the borrowers failed to submit any evidence to support their claims (Dwayne...

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 Finds Lender's Duty To Respond Was Not Triggered Under RESPA

SACRAMENTO, Calif. - A California federal judge on Jan. 11 granted a lender's motion to dismiss causes of action for violation of the unfair competition law (UCL), the Real Estate Settlement and Procedures Act (RESPA) and other claims, finding that a borrower's communications about the origination...

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...