LexisNexis® Legal Newsroom
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...

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...

Mealey's Banking & Finance - Judge Refuses To Dismiss Fraud Claim Related To Loan Servicer's Conduct

TRENTON, N.J. - After finding that a borrower alleged facts to show that a loan servicer possibly delayed the loan modification process and that its conduct lacked good faith, a New Jersey federal judge on May 23 denied the servicer's request to dismiss a cause of action for violation of the New...

Mealey's Banking & Finance - Judge Holds Bank's Response To Borrower Was Sufficient, Dismisses Complaint

SAN DIEGO - After finding that a bank's response to a borrower's qualified written request was sufficient and that missing information from loan modification documents would not stop foreclosure, a California federal judge on May 25 dismissed a borrower's claims for violation of California's...

Mealey's Banking & Finance - Previous Case Bars Action Against Lender, Loan Servicer, Judge Holds

LOS ANGELES - After finding that a previous lawsuit filed by borrowers involved the same primary issues and parties, a California federal judge on May 24 dismissed a second lawsuit in which the borrowers asserted causes of action for violation of California's unfair competition law (UCL), the Fair...

Mealey's Banking & Finance - Judge Allows County's Disparate Impact Claim Against HSBC To Proceed

CHICAGO - An Illinois federal judge on May 30 partially dismissed a county's claims that a bank's discriminatory lending practices have caused it to suffer injuries, but found that a complaint sufficiently alleges that the bank's policies caused disparate impact (County of Cook v. HSBC North...

Mealey's Banking & Finance - MERS Had Authority To Assign Loan; Panel Affirms Dismissal

SEATTLE - The Ninth Circuit U.S. Court of Appeals on May 31 affirmed a district court's ruling in favor of lenders and loan servicers, finding that a borrower's claims for fraud and violation of Washington consumer protection law were untimely (Herbert R. Pearse v. First Horizon Home Loan Corp...

Mealey's Banking & Finance - 6-Year Foreclosure Statute No Longer Applies In Nevada, Judge Holds

LAS VEGAS - After finding that the Nevada Supreme Court rejected the argument that a lender cannot foreclose on a property after six years has passed since the borrower ceased making payment, a Nevada federal judge on June 4 dismissed an action filed by borrowers seeking to enjoin foreclosure of their...

Mealey's Banking & Finance - Banks Gave Proper Notice Of Foreclosure Under Michigan Law, Judge Holds

DETROIT - After finding that a trustee and loan servicer did not fail to give a borrower proper notice in violation of Michigan's foreclosure by advertisement statue, a Michigan federal judge on June 4 granted dismissal of causes of action related to the foreclosure of the borrower's property...

Mealey's Banking & Finance - Magistrate Judge Dismisses UCL, HBOR Claims Against Wells Fargo

SAN FRANCISCO - A California federal magistrate judge on June 7 dismissed a borrower's claims for violation of the California Homeowners Bill of Rights (HBOR) and California's unfair competition law (UCL) with leave to amend, holding that she failed to plead sufficient facts to show that a lender...

Mealey's Banking & Finance - Judge Denies Most Of Bank's Motion To Dismiss Foreclosure-Related Claims

SAN FRANCISCO - A California federal judge on June 11 granted a bank's motion to dismiss a borrower's claim for violation of California's unfair competition law (UCL) for failure to state a claim, but allowed most of her claims to proceed, including a cause of action for breach of California's...

Mealey's Banking & Finance - Therapist Cannot Opine That Mortgage Dispute Caused Man's Depression

PITTSBURGH - A mental health therapist cannot testify as an expert about whether the conduct of mortgage companies caused a man's depression and anxiety because she admittedly based her opinions on just talking to the man as a friend she had met online, not as a licensed counselor, a Pennsylvania...

Mealey's Banking & Finance - 9th Circuit Affirms Dismissal Of UCL, HBOR Claims Related To Foreclosure

PASADENA, Calif. - The Ninth Circuit U.S. Court of Appeals on June 18 affirmed a district court's decision to grant judgment on the pleadings for lenders and a loan servicer, holding that her claims were barred by a two-year statute of limitations and that she had no viable claim for violation of...

Mealey's Banking & Finance - New Jersey Panel Holds Foreclosure Action Was Timely, Affirms Ruling

TRENTON, N.J. - A New Jersey appeals court on June 15 ruled that a bank's original foreclosure case, which was voluntarily dismissed, did not begin to run a statute of limitations, rejecting a borrower's argument that the foreclosure action was time-barred (Deutsche Bank National Trust Company...