Mealey's Mortgage Lending

  • August 12, 2021

    FCRA Claims Over Erroneous Mortgage Debt Reporting Allowed To Proceed

    TAMPA, Fla. — A federal judge in Florida on Aug. 10 denied a mortgage lender’s request to dismiss claims in a Fair Credit Reporting Act (FCRA) lawsuit alleging that the lender inaccurately reported borrowers’ missed payments as delinquent, ruling that the borrowers have sufficiently shown that the lender’s reporting was inaccurate and misleading.

  • August 10, 2021

    Borrower’s LPI Dispute Claims Barred By Washington’s Filed-Rate Doctrine

    SEATTLE — A borrower’s claims in a lawsuit against her mortgage loan servicer and lender-placed insurance (LPI) provider are barred by the filed-rate doctrine because each of her claims challenges the cost of her LPI premiums, a federal judge in Washington ruled July 29 in granting the defendants’ motions to dismiss.

  • August 10, 2021

    Deutsche Bank Waives Response In High Court Appeal Of Foreclosure Suit Ruling

    WASHINGTON, D.C. — Without providing further detail, an attorney representing respondents in an appeal of a federal appellate panel ruling upholding dismissal of a lawsuit filed by borrowers for lack of standing told the U.S. Supreme Court on June 10 that her clients would be waiving their response to the borrower’s petition for writ of certiorari.

  • August 09, 2021

    Wells Fargo Hit With Borrower Class Action Over Home Inspection Fees

    CAMDEN, N.J. — A borrower filed a class action lawsuit in New Jersey federal court on Aug. 5, alleging that Wells Fargo Bank NA violated the Racketeer Influenced and Corrupt Organizations Act (RICO) and New Jersey’s consumer fraud law by engaging in a scheme to charge borrowers who fell behind in their mortgage payments for improper property inspection fees.

  • August 04, 2021

    FCRA Suit Against Credit Reporting Agencies Dismissed For Lack Of Standing

    NEW YORK — A federal judge in New York on Aug. 2 entered a judgment dismissing a borrower’s amended complaint seeking damages under the Fair Credit Reporting Act (FCRA) against two credit reporting agencies (CRAs) and their joint venture and ordered the case closed after ruling that the borrower failed to sufficiently show any requisite injury that would entitle him to compensatory damages under the statute.

  • July 29, 2021

    Borrower’s Home-Equity Loan Dispute Claims Lack Merit, Magistrate Judge Says

    SAN ANTONIO — A federal magistrate judge in Texas on July 26 recommended that a mortgage servicer and note holder be granted summary judgment on claims brought by a borrower alleging that the defendants failed to originate a home-equity loan in compliance with provisions of the Texas Constitution, ruling that the borrower cannot bring a stand-alone claim under the state constitution.

  • July 29, 2021

    9th Circuit Panel:  Evidence Supported Convictions In Mortgage Fraud Lawsuit

    SAN FRANCISCO — A Ninth Circuit U.S. Court of Appeals panel on July 27 affirmed the conviction of two loan officers on wire fraud charges stemming from their involvement in a mortgage fraud scheme, holding that evidence presented at trial supported the convictions.

  • July 28, 2021

    Mortgage Lender Named In TCPA Class Action Suit Over Unsolicited Robocalls

    LOS ANGELES — A mortgage lender was hit with a nationwide consumer class action lawsuit in California federal court on July 23 alleging that the lender violated provisions of the Telephone Consumer Protection Act (TCPA) by “negligently, knowingly, and/or willfully” contacting consumers on their cellular phones to solicit its services without the consumers’ express consent.

  • July 27, 2021

    Panel Upholds Summary Judgment Ruling In CFPB Enforcement Action

    CHICAGO — A federal district court did not err in granting summary judgment in favor of the Consumer Financial Protection Bureau (CFPB) in an enforcement action brought against two law firms and certain of their attorneys because the bureau’s determination that the law firms and attorneys were not engaged in the practice of law was supported by the evidence, a Seventh Circuit U.S. Court of Appeals panel ruled July 23 in affirming in part and remanding in part.

  • July 27, 2021

    Preliminary Approval Of $22M Add-On In Wells Fargo Foreclosure Suit Granted

    SAN FRANCISCO — A federal judge in California on July 26 granted preliminary approval of a nearly $22 million supplemental class action settlement for a nationwide class of borrowers who allege that they were denied loan modifications under the Home Affordable Modification Program (HAMP) by Wells Fargo Bank NA as a result of an algorithmic error in its software but were not part of an original list of borrowers provided by Wells Fargo as part of an $18.5 million settlement reached in 2020.

  • July 27, 2021

    Loan Servicer, Owner Granted Summary Judgment In Loan Modification Dispute

    LOS ANGELES — A federal judge in California on July 22 granted a summary judgment motion filed by a loan servicer and a lender in a loan modification dispute, ruling that the defendants have sufficiently shown that borrowers’ state and common-law claims fail as a matter of law.

  • July 19, 2021

    Mortgage Loan Servicer’s Stay Request Denied In Suit Challenging Convenience Fees

    SAN FRANCISCO — A federal judge in California on July 14 denied a mortgage loan servicer’s motion to stay a borrower’s unfair debt collection lawsuit challenging the loan servicer’s charging of “pay-to-pay” convenience fees for processing the borrower’s loan payments online pending a ruling in a related Ninth Circuit U.S. Court of Appeals action, ruling that the loan servicer failed to show that a stay “would serve the interest of judicial economy.”

  • July 15, 2021

    Commercial Loans Usurious, Null And Void, Split Rhode Island Supreme Court Rules

    PROVIDENCE, R.I. — A Rhode Island trial court did not err in granting partial summary judgment in favor of borrowers in a lawsuit stemming from the issuance of a series of commercial loans because the loans were usurious and null and void, a split Rhode Island Supreme Court panel ruled June 30 in affirming.

  • July 14, 2021

    Panel:  Court Erred By Dismissing Claims For Defects In Supplemental Complaint

    SAN FRANCISCO — A California appellate panel on July 12 reversed a trial court’s entry of judgment against a property owner who brought claims against a lender and two loan servicers for violation of California’s unfair competition law (UCL) and Homeowner’s Bill of Rights (HBOR) after finding the court’s ruling was based on defects in the plaintiff’s supplemental complaint which the panel said did not supersede triable claims in the plaintiff’s original complaint.

  • July 14, 2021

    2nd Circuit Denies Rehearing, En Banc Rehearing Supplement Bid In FDCPA Suit

    NEW YORK — The Second Circuit U.S. Court of Appeals on July 6 denied a borrower’s request to supplement his petition for rehearing or rehearing en banc in an appeal of a Connecticut federal court’s dismissal of the borrower’s claims for fraud, negligent infliction of emotional distress (NIED) and violations of the Fair Debt Collection Practices Act (FDCPA) against his mortgage loan servicer and others.

  • July 12, 2021

    Borrower’s RESPA Claims Dismissed As Barred By Rooker-Feldman Doctrine

    MIAMI — A federal judge in Florida on July 6 ruled that dismissal of a borrower’s lawsuit against his mortgage loan servicer is necessary because the borrower’s claims that the loan servicer violated several provisions of the Real Estate Settlement Procedures Act (RESPA) while attempting to foreclose on the borrower’s property are barred by the Rooker-Feldman doctrine.

  • July 12, 2021

    Panel:  Mortgage Loan Servicer’s Actions Did Not Amount To FDCPA Violation

    ST. PAUL, Minn. — A federal district court did not err in granting a mortgage loan servicer’s motion for summary judgment in Fair Debt Collection Practices Act (FDCPA) lawsuit because none of the evidence presented by a borrower in support of his claim shows that the loan servicer used “false, deceptive, and misleading representations and unfair and unconscionable means” to collect on an underlying mortgage loan debt, an Eighth Circuit U.S. Court of Appeals panel ruled July 9 in affirming.

  • June 30, 2021

    Federal Judge Dismisses Borrower Suit Seeking To Halt Home Foreclosure

    BROWNSVILLE, Texas — Without providing further detail, a federal judge in Texas on June 25 adopted a federal magistrate’s recommendation that a borrower’s lawsuit seeking to prevent foreclosure on this property by his mortgage loan servicer be dismissed because each of the borrower’s allegations is meritless.

  • June 25, 2021

    West Virginia High Court Upholds Settlement Agreement In Mortgage Dispute

    CHARLESTON, W. Va. — A West Virginia trial court did not err in granting a loan servicer’s motion to enforce a settlement agreement with a borrower in a breach of contract lawsuit arising from the company’s servicing of the borrower’s home mortgage loan because “no substantial question of law and no prejudicial error” exist, the West Virginia Supreme Court of Appeals ruled June 23 in affirming.

  • June 25, 2021

    En Banc 9th Circuit Hears Oral Argument In Discriminatory Lending Appeal

    SAN FRANCISCO — The Ninth Circuit U.S. Court of Appeals on June 23 heard oral arguments in a rehearing of an appeal in a Federal Housing Act (FHA) lawsuit brought by the city of Oakland, Calif., against Wells Fargo & Co. and Wells Fargo Bank over the lenders’ alleged discriminatory lending practices, with Wells Fargo asking the en banc court to bring an end to the lawsuit based on a lack of a showing of proximate cause on the part of the city.

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