LexisNexis® Legal Newsroom
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...

Mealey's Banking & Finance - Florida Federal Judge Refuses To Dismiss Bank's Foreclosure-Related Action

TAMPA, Fla. - After finding that mortgage-related documents showed that two people had an interest in a property, a Florida federal judge on Jan. 16 refused to dismiss a bank's foreclosure action against them (Centennial Bank v. Bakerfield Custom Homes Corp., et al., No. 8:17-cv-01721, M.D. Fla....

Mealey's Banking & Finance - Judge Dismisses Florida Law, FDCPA Claims Related To Foreclosure

ORLANDO, Fla. - A Florida federal judge on Jan. 18 granted a mortgage servicer and a law firm's motion to dismiss claims for violation of federal and Florida law asserted against them by a borrower, finding that a statute of limitations did not apply to their attempt to collect a debt (Dudley Blake...

Mealey's Banking & Finance - Judge Grants Judgment To Mortgagors, Reinsurer On RESPA, Unjust Enrichment Claims

PITTSBURGH - In a mortgage insurance reinsurance scheme case, a Pennsylvania federal judge on Jan. 19 granted judgment on the pleadings to mortgagors and a reinsurer with regard to a Real Estate Settlement Procedures Act (RESPA) claim and an unjust enrichment claim (Linda Menichino, et al. v. Citibank...

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 - Facebook IPO Class Action Barred By Professional Services Exclusion, Panel Affirms

NEW YORK - The Second Circuit U.S. Court of Appeals on Jan. 22 held that a directors and officers (D&O) liability insurance policy's professional services exclusion unambiguously bars coverage for claims in an underlying Facebook IPO class action lawsuit, affirming a lower court's ruling...

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 - Federal Judge Refuses To Exercise Jurisdiction Over UCL Contract Claims, Remands

SACRAMENTO, Calif. - After finding that no federal claims remained against various lenders and property companies, a California federal judge on Jan. 22 remanded claims asserted by borrowers for breach of contract, fraud and violation of California's unfair competition law (UCL) to a California state...

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 - Judge Stays Foreclosure-Related Case Pending Ruling In Related Action

DETROIT - After finding that a state court action that involves the same parties and facts related to the same mortgage is a parallel proceeding, a Michigan federal judge on Jan. 29 stayed the case pending the outcome of the state litigation (Amy Dunn, et al. v. Daniel S. Gross & Associates PLC,...

Mealey's Banking & Finance - Judge Dismisses UCL Claim, Finds Lender Did Not Interfere With Sale

SAN FRANCISCO - After finding that a former property owner's claim that a lender interfered with his private sale of a property by recording a notice of trustee's sale failed, a California federal judge on Jan. 30 dismissed his claim for violation of California's unfair competition law (UCL...

Mealey's Banking & Finance - Panel Denies Mortgage Lender, Captive Reinsurer's Appeal On Federal Statute

WASHINGTON, D.C. - On petition by a large mortgage lender and its captive reinsurer, a District of Columbia Circuit U.S. Court of Appeals majority on Jan. 31 upheld a federal statute's provision preventing the U.S. president from firing an agency's director without cause (PHH Corp., et al. 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 - Judge Finds Property Foreclosure Was Not Barred By Limitations Period

DALLAS - A Texas federal judge on Feb. 6 granted summary judgment for a loan servicer and lender on a borrower's claims for violation of Texas law, finding that a foreclosure was not barred by a four-year statute of limitations (Steven Crear Sr. v. Select Portfolio Servicing Inc., et al., No. 3:17...

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).