LexisNexis® Legal Newsroom
Mealey's Banking & Finance - Federal Judge Allows Borrower To Amend Claims Against Loan Servicer

SAN FRANCISCO - A California federal judge on Dec. 5 dismissed claims for wrongful foreclosure and violations of the California civil code against two mortgage-related entities but granted a borrower leave to file a second amended complaint against one lender in relation to the foreclosure of her property...

Mealey's Banking & Finance - 10th Circuit Affirms Bankruptcy Court's Dismissal Of Fraudulent Transfer Claims

DENVER - The 10th Circuit U.S. Court of Appeals on Dec. 6 affirmed a bankruptcy court's decision to enter summary judgment against a debtor in relation to the sale of a property, finding that its claims for fraudulent transfer of the loan failed (In re: Expert South Tulsa LLC, Steven R. Rebein, Chapter...

Mealey's Banking & Finance - 9th Circuit Affirms Ruling For Wells Fargo On Mortgage Lending Claims

PASADENA, Calif. - The Ninth Circuit U.S. Court of Appeals on Dec. 6 affirmed a district court's decision to grant summary judgment on claims for violation of California's unfair competition law (UCL), negligence, wrongful foreclosure and other claims asserted against Wells Fargo Bank N.A., finding...

Mealey's Banking & Finance - Judge Orders Borrower To Show Cause On Failure To Prosecute Lending Claims

SANTA ANA, Calif. - A California federal judge on Dec. 7 ordered a property owner to show cause as to why his claims against Nationstar Mortgage LLC should not be dismissed for failure to prosecute and why sanctions should not be imposed for fees incurred by the lender (Frank J. Arlasky v. Nationstar...

Mealey's Banking & Finance - Judge Enters Default Ruling, Awards Investor $1.07M In Damages

LOS ANGELES - After finding that an investor adequately pleaded that financial advisers deliberately made misrepresentations and concealed information about the risks associated with investments, a California federal judge on Dec. 9 entered a default ruling in her favor for $1,070,972.88 (Julie Marshall...

Mealey's Banking & Finance - California Court Finds Borrower Lacked Standing To Challenge Foreclosure

LOS ANGELES - After finding that a borrower failed to show that he had standing to challenge the foreclosure of a property, a California court on Dec. 12 affirmed a trial court's decision to grant a demurrer in favor of Citibank N.A. (Marc I. Rosenthal v. Citibank N.A., et al., No. B263465, Calif...

Mealey's Banking & Finance - 9th Circuit Affirms Dismissal Of UCL And Antitrust Claims Against Bank

PASADENA, Calif. - The Ninth Circuit U.S. Court of Appeals on Dec. 14 affirmed a court's dismissal of claims for violation of California's unfair competition law (UCL) and for violation of the Sherman Act against several banks, finding that some of a borrower's claims could not be based on...

Mealey's Banking & Finance - 2nd Circuit Finds Rescission Period Under TILA Had Expired, Affirms Dismissal

NEW YORK - The Second Circuit U.S. Court of Appeals on Dec. 16 affirmed a decision granting dismissal for a bank of a borrower's claims for rescission under the Truth in Lending Act (TILA), finding that the rescission period had expired (Allyson Smith v. Wells Fargo Bank, N.A., No. 16-611, 2nd Cir...

Mealey's Banking & Finance - Judge Refuses To Dismiss RESPA Claim, Adopts Magistrate's Report

DETROIT - A Michigan federal judge on Dec. 20 adopted a magistrate judge's recommendation that the majority of claims asserted by former property owners against two loan companies in relation to the foreclosure of their property be dismissed, but found that their cause of action for violation of...

Mealey's Banking & Finance - 4th Circuit Finds No Evidence To Support FDCPA Claims Against Ocwen

RICHMOND, Va. - The Fourth Circuit U.S. Court of Appeals on Dec. 20 affirmed the grant of summary judgment to a loan-servicing company, finding that a borrower failed to submit sufficient evidence to create a genuine issue of material fact to support his claims related to the alleged improper reporting...

Mealey's Banking & Finance - Magistrate Recommends Dismissal Of Foreclosure-Related Claims Against Loan Servicer

SACRAMENTO, Calif. - After finding no evidence to support a borrower's claims for wrongful foreclosure and violation of California's unfair competition law (UCL), a California federal magistrate judge on Dec. 22 recommended that his claims against a loan servicer be dismissed without leave to...

Mealey's Banking & Finance - Federal Judge Finds Foreclosure Claims Are Barred By Previous Suit

HOUSTON - A Texas federal judge on Dec. 30 found that a foreclosure-related case was barred by the doctrine of res judicata because the pleadings in the previous case were identical and already dismissed (Lester Anthony McPherson v. Bank of America, N.A., et al., No. 16-3498, S.D. Texas; 2016 U.S. Dist...

Mealey's Banking & Finance - 10th Circuit Finds FDCPA Claim Was Barred By Limitations Period

DENVER - The 10th Circuit U.S. Court of Appeals on Dec. 28 affirmed a district court's dismissal of a claim for violation of the Fair Debt Collections Practices Act (FDCPA) against several mortgage entities as time-barred by a one-year statute of limitations and that an exception to a federal evidence...

Mealey's Banking & Finance - Federal Judge Partially Grants Discovery Related To Reverse Mortgage

NEW HAVEN, Conn. - A Connecticut federal judge on Dec. 30 partially granted a property owner's request for production of documents in relation to his reverse mortgage but denied the motion as to his request regarding certain policies of the lender (Vincent Bartold v. Wells Fargo Bank, N.A., No. 14...

Mealey's Banking & Finance - Federal Judge Dismisses UCL Claim Against MERS For Failure To Amend

SAN FRANCISCO - After finding that a borrower failed to amend her claims for violation of California's unfair competition law (UCL) and declaratory relief, a California federal judge on Jan. 3 granted a motion to dismiss a second amended complaint against lenders in relation to a mortgage (Modesta...

Mealey's Banking & Finance - 3rd Circuit Finds Capital One Did Not Misrepresent Loan

PHILADELPHIA - The Third Circuit U.S. Court of Appeals on Jan. 4 affirmed a district court's ruling in favor of a lender, finding that a property owner failed to allege any facts to support a finding that it breached any mortgage agreement with him or intentionally inflicted emotional distress (Ruben...

Mealey's Banking & Finance - Judge Finds TILA And Quiet Title Claims Are Precluded By Foreclosure Case

CLEVELAND - An Ohio federal judge on Jan. 5 granted a mortgage company's motion to dismiss claims for violation of the Truth in Lending Act (TILA) and other claims related to a foreclosure, finding that the claims were barred by a ruling in a state court case (Kariem Hasan v. Citimortgage Inc., No...

Mealey's Banking & Finance - Judge Allows Deutsche Bank To Amend Claims Related To Default Notices

SAN DIEGO - A California federal judge on Jan. 5 granted a bank's request to assert counterclaims against borrowers and to add various counterdefendants to an action in which property owners assert claims for violation of California's unfair competition law (UCL), the Truth in Lending Act (TILA...

Mealey's Banking & Finance - Judge Finds UCL Claims Against Wells Fargo Fail For Lack Of Standing

SAN FRANCISCO - After finding that two borrowers failed to adequately plead their claims for violation of California's unfair competition law (UCL) and negligence, a California federal judge on Jan. 10 granted a motion to dismiss filed by Wells Fargo Bank N.A. (Michelle A. Graham, et al. v. Wells...

Mealey's Banking & Finance - Coverage Of Share Dispute Barred By 'Insured Vs. Insured' Exclusion, Panel Affirms

ST. LOUIS - The Eighth Circuit U.S. Court of Appeals on Jan. 11 affirmed a lower court's ruling that a directors and officers liability insurance policy's "insured vs. insured" exclusion bars coverage for an underlying share dispute brought against a closely held corporation and two...

Mealey's Banking & Finance - 3rd Circuit Finds Claims Against U.S. Bank Are Barred By Foreclosure Case

PHILADELPHIA - The Third Circuit U.S. Court of Appeals on Jan. 12 affirmed a district court's decision to dismiss causes of action related to the assignment of a mortgage against a bank and a mortgage company, finding that the case was barred by the doctrine established in Rooker v. Fidelity Trust...

Mealey's Banking & Finance - Federal Judge Dismisses Foreclosure-Related Claims As Barred By Rooker-Feldman

CHICAGO - An Illinois federal judge on Jan. 17 granted a mortgage company's motion to dismiss foreclosure-related claims asserted by a former property owner, finding that the case was barred by a state court action (Fred Freeman v. Long Beach Mortgage Co., et al., No. 16-cv-4272, N.D. Ill.; 2017...

Mealey's Banking & Finance - Deutsche Bank To Pay $7.3B For Misleading Investors In Sale Of RMBS

WASHINGTON, D.C. - Deutsche Bank AG and its current and former subsidiaries and affiliates and ACE Securities Corp. will pay $7.2 billion in civil penalties and relief to homeowners and others to settle claims that it misrepresented investors regarding the investment quality of residential mortgage-backed...

Mealey's Banking & Finance - High Court Finds Clause Did Not Confer Federal Jurisdiction For Fannie Mae

WASHINGTON, D.C. - The U.S. Supreme Court on Jan. 18 reversed a decision granting judgment for the Federal National Mortgage Association (Fannie Mae) on claims related to a property foreclosure, finding that the sue-and-be-sued clause in a federal charter does not expressly confer jurisdiction on federal...

Mealey's Banking & Finance - Panel: Failure To Request Written Consent Before Settlement Negates Coverage

PASADENA, Calif. - The Ninth Circuit U.S. Court of Appeals on Jan. 19 found that a lower federal court properly applied California law in finding that a bank insured breached its professional liability insurance policy by failing to request or obtain the insurer's written consent before executing...