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Mealey's Mortgage Lending

  • December 12, 2018

    Borrower Failed To Show Judge Was Biased, 11th Circuit Holds

    ATLANTA — After holding that a borrower failed to show that a judge was biased in making an adverse ruling and that he failed to cure the deficiencies in his complaint, the 11th Circuit U.S. Court of Appeals on Dec. 10 affirmed a district court’s decision to grant a bank’s motion to dismiss the case (John M. Barone v. Wells Fargo Bank, N.A., a.k.a., et al., No. 18-11272, 11th Cir., 2018 U.S. App. LEXIS 34589).

  • December 10, 2018

    Judge Holds UCL Claims Against Chase Are Not Preempted By HOLA

    SAN FRANCISCO — A California federal judge on Dec. 7 refused to dismiss class action claims that a bank violated California’s unfair competition law (UCL) by failing to pay interest on their escrow accounts under the terms of their mortgage agreements, holding that the borrowers’ state law claims were not preempted by federal law (McShannock v. JP Morgan Chase Bank N.A., No. 18-01873, N.D. Calif., 2018 U.S. Dist. LEXIS 207262).

  • December 7, 2018

    9th Circuit Holds Court Misread Borrower’s Damages Claim, Reverses Dismissal

    SEATTLE — After finding that a district court erred in applying a one-year statute of limitations under the Truth in Lending Act (TILA) to a borrower’s damages claims under Washington law, the Ninth Circuit U.S. Court of Appeals on Dec. 6 reversed a decision dismissing his claims for violation of TILA as time-barred (Jerry Hoang, et al. v. Bank of America, N.A., et al., No. 17-35993, 9th Cir., 2018 U.S. App. LEXIS 34375).

  • December 6, 2018

    Panel Rejects Borrower’s Challenge To Jury Verdict For Loan Servicers

    SAN FRANCISCO — After holding that a district court properly excluded evidence that was not relevant to a lawsuit filed by a borrower in relation to an alleged wrongful foreclosure and that jury instructions were not confusing, the Ninth Circuit U.S. Court of Appeals on Dec. 5 affirmed a jury verdict and ruling for loan servicers (Tsvetan S. Torbov v. Cenlar FSB, et al., No. 18-15382, 9th Cir., 2018 U.S. App. LEXIS 34280).

  • December 5, 2018

    9th Circuit Affirms Dismissal Of TILA Claims As Time-Barred

    SAN FRANCISCO — After finding that claims for violation of the Truth in Lending Act (TILA) were barred by statutes of limitations and that borrowers failed to submit facts to show that lenders violated TILA, the Ninth Circuit U.S. Court of Appeals on Dec. 3 affirmed dismissal of the lawsuit (Adrienne J. Styles, et al. v. Deutsche Bank National Trust Company, et al., No. 18-15372, 9th Cir., 2018 U.S. App. LEXIS 33869).

  • December 5, 2018

    Borrower’s UCL, FDCPA Claims Not Supported By Facts, 9th Circuit Holds

    PASADENA, Calif. — A panel of the Ninth Circuit U.S. Court of Appeals on Dec. 3 affirmed dismissal of a foreclosure-related action filed by a borrower, holding that she failed to allege facts to support her claims for violations of the Fair Debt Collection Practices Act (FDCPA), California’s unfair competition law (UCL) and other causes of action (Alicia Johnson v. Ocwen Loan Servicing, LLC, et al., No. 18-55279, 9th Cir., 2018 U.S. App. LEXIS 33891).

  • December 3, 2018

    SFR Seeks High Court Review Of Interpretation Of HERA Foreclosure Bar

    WASHINGTON, D.C. — An investment pool on Nov. 21 filed a petition for writ of certiorari with the U.S. Supreme Court, seeking review of a Ninth Circuit U.S. Court of Appeals ruling in which the court held that the Housing and Economic Recovery Act of 2008 (HERA) prevents homeowner associations (HOAs) and others from foreclosing on a property that was purchased and securitized by Federal Home Loan Mortgage Corp. (Freddie Mac) or the Federal Housing Finance Agency (Fannie Mae) even where a foreclosing party’s lien was senior to the loan (SFR Investments Pool 1 LLC v. Federal Home Loan Mortgage Corporation, et al., No. No. 18-670, U.S. Sup., 2018 U.S. S. Ct. Briefs LEXIS 4322).

  • December 3, 2018

    Judge Holds HOLA Preempts Foreclosure-Related Claims Against Wells Fargo

    SACRAMENTO, Calif. — A California federal judge on Nov. 29 dismissed numerous claims asserted by borrowers against lenders in relation to a foreclosure of their property, holding that all of their claims were preempted by the Home Owners Loan Act (HOLA) (Josefino R. Galang, et al. v. Wells Fargo Bank, N.A., et al., No. 2:18-cv-01640, E.D. Calif., 2018 U.S. Dist. LEXIS 201768).

  • November 28, 2018

    Borrower Did Not Suffer Damages Caused By RESPA Violations, Judge Holds

    FORT WORTH, Texas — A Texas federal judge on Nov. 27 dismissed a borrower’s complaint against a lender, holding that she failed to plead that she suffered actual damages as a result of the bank’s alleged violations of the Real Estate Settlement and Procedures Act (RESPA) (Wynetta Williams v. Wells Fargo Bank, N.A., No. 4:18-cv-00564, N.D. Texas, 2018 U.S. Dist. LEXIS 199867).

  • November 28, 2018

    11th Circuit Affirms Dismissal Of Borrower’s FDCPA, Criminal Law Claims

    ATLANTA — The 11th Circuit U.S. Court of Appeals on Nov. 27 dismissed a borrower’s appeal of a decision dismissing her complaint against a loan servicer and its CEO, holding that she abandoned any claim that the district court erred in dismissing her case (Norma E. Butler-Stern, et al. v. Jay Memmott, et al., No. 18-10632, 11th Cir., 2018 U.S. App. LEXIS 33253).

  • November 27, 2018

    Federal Judge Stays Case Pending High Court Ruling On FDCPA

    DETROIT — A Michigan federal judge on Nov. 21 granted a request to stay a proposed class action filed by a borrower who asserts that a law firm, its founder and president violated the Fair Debt Collection Practices Act (FDCPA) pending the outcome of the U.S. Supreme Court’s ruling on whether the FDCPA applies to nonjudicial mortgage foreclosures (Freddie Garland v. Orlans PC, et al., No. 18-11561, E.D. Mich., 2018 U.S. Dist. LEXIS 198201).

  • November 27, 2018

    Federal Judge Dismisses Borrower’s Claims Against Lenders As Conclusory

    NEW HAVEN, Conn. — A Connecticut federal judge on Nov. 21 dismissed a borrower’s claims against various lenders and individuals in relation to the handling of her mortgage for lack of jurisdiction and failure to state a claim (Joyce Decormier v. Aurora Loan Services LLC, et al., No. 3:18cv1889, D. Conn., 2018 U.S. Dist. LEXIS 198227).

  • November 21, 2018

    Judge Allows Trust’s UCL, RESPA Claims Against Lenders To Proceed

    SAN FRANCISCO — A California federal judge on Nov. 19 allowed a trust’s claims for violation of California’s unfair competition law (UCL) and the Real Estate Settlement Procedures Act (RESPA) to proceed against various lenders, holding that it sufficiently pleaded that it suffered actual damages (Roy Hahn, et al. v. Select Portfolio Inc., et al., No. 18-cv-05629, N.D. Calif., 2018 U.S. Dist. LEXIS 197160).

  • November 20, 2018

    Federal Court Dismisses Wrongful Foreclosure Case For Lack Of Jurisdiction

    WASHINGTON, D.C. — A District of Columbia federal judge on Nov. 19 granted a bank’s motion to dismiss a borrower’s wrongful foreclosure claims, holding that she failed to state a plausible causes of action and that the court lacked jurisdiction over the case (Ashante Yussuf v. Wells Fargo, N.A., No. 18-2118, D. D.C., 2018 U.S. Dist. LEXIS 196459).

  • November 19, 2018

    High Court Will Not Review Whether California Escrow Law Preempts NBA

    WASHINGTON, D.C. — The U.S. Supreme Court on Nov. 19 denied a petition for writ of certiorari filed by a bank, declining to review an appeals court’s ruling that the National Bank Act (NBA) does not preempt state escrow interest law (Bank of America, N.A. v. Donald M. Lusnak, No. 18-212, U.S. Sup.).

  • November 19, 2018

    Judge Holds HOLA Preempts Borrowers’ UCL, HBOR Claims Against Bank

    SAN FRANCISCO — A California federal judge on Nov. 14 granted a bank’s motion to dismiss claims for violation of California’s Homeowners Bill of Rights (HBOR) and unfair competition law (UCL) asserted by borrowers, holding that their claims were preempted by the Home Owners' Loan Act (HOLA) (David Fowler, et al. v. Wells Fargo Bank, N.A., No. 18-cv-01254, N.D. Calif., 2018 U.S. Dist. LEXIS 194423).

  • November 15, 2018

    6th Circuit Holds Court Lacked Jurisdiction To Rule On Garn-St. Germain Act Claim

    CINCINNATI — The Sixth Circuit U.S. Court of Appeals on Nov. 13 reversed a district court’s ruling that the Garn-St. Germain Depository Institutions Act of 1982 did not authorize a private right of action for an estate and entering judgment for a loan servicer and property owner, holding that the district court lacked federal jurisdiction and that the case should be remanded (Audrey D. Bantom, et al. v. Bayview Loan Servicing, LLC, No. 18-1245, 6th Cir., 2018 U.S. App. LEXIS 32096).

  • November 12, 2018

    UBS AG Hit With Justice Department Suit Over Sale Of Mortgage-Backed Securities

    BROOKLYN, N.Y. — The U.S. Department of Justice sued UBS AG and certain of its affiliates in New York federal court on Nov. 9, alleging that the defendants misrepresented the investment quality of more than $41 billion in residential mortgage-backed securities (RMBS) it sold to investors (United States v. UBS Securities LLC, et al., No. 18-6369, E.D. N.Y.).

  • November 9, 2018

    Borrower Says State Escrow Law Ruling Does Not Warrant High Court Review

    WASHINGTON, D.C. — A borrower on Oct. 17 opposed a bank’s petition for writ of certiorari in the U.S. Supreme Court in which it seeks review of an appeals court’s ruling that the National Bank Act (NBA) does not preempt California’s escrow interest law, arguing that the issue is unripe for review and that the analysis requested by the bank would be based on a nonexistent factual record (Bank of America, N.A. v. Donald M. Lusnak, No. 18-212, U.S. Sup.).

  • November 9, 2018

    Law Firm Submits Arguments On FDCPA In U.S. Supreme Court

    WASHINGTON, D.C. — A law firm on Nov. 7 asked the U.S. Supreme Court to affirm an appeals court’s decision that the Fair Debt Collection Practices Act (FDCPA) does not apply to nonjudicial foreclosure proceedings, arguing that the FDCPA relates to practices that demand debt and is not related to foreclosure activities (Dennis Obduskey v. McCarthy & Holthus LLP, No. 17-1307, U.S. Sup.).