Mealey's Mortgage Lending
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July 28, 2022
Trident Mortgage To Pay More Than $20M To Resolve Lending Discrimination Claims
PHILADELPHIA — A mortgage lender will pay more than $20 million to increase credit opportunities in the Philadelphia metropolitan area as part of a consent order the lender reached with the Consumer Financial Protection Bureau (CFPB) and the U.S. Department of Justice stemming from the lender’s alleged pattern of discriminatory lending known as redlining, according to court documents filed in Pennsylvania federal court on July 27.
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July 22, 2022
Summary Judgment Ruling In Wrongful Foreclosure Suit Appealed To 5th Circuit
HOUSTON — A borrower filed a notice of appeal on July 1 in Texas federal court, stating that she will appeal a Texas federal court judge’s grant of summary judgment in favor of her mortgage lender on her wrongful foreclosure claim.
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July 22, 2022
Borrower Claims In Lawsuit Stemming From Mortgage Foreclosure Dismissed
NEWARK, N.J. — A federal judge in New Jersey on July 19 ruled that a borrower has failed to sufficiently plead any of its claims against parties involved in foreclosure proceedings stemming from the borrower’s default on his mortgage loan.
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July 21, 2022
Panel Lacks Jurisdiction To Hear Appeal In Foreclosure Actions
RICHMOND, Va. — A Fourth Circuit U.S. Court of Appeals panel on July 19 ruled that it lacked the necessary jurisdiction to hear a borrower’s appeal of a federal district court’s orders dismissing two parties from a lawsuit alleging that the parties, as well as a third defendant, violated the terms of an automatic stay when they foreclosed on her mortgage refinance loan while the borrower was in the midst of Chapter 13 bankruptcy proceedings, because the borrower filed her appeal seven years after the district court entered final judgment.
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July 21, 2022
Ocwen Dodges Sanctions In Discovery Dispute But Must Submit Some Loan Documents
INDIANAPOLIS — In a mixed ruling for Ocwen Loan Servicing LLC, an Indiana federal magistrate judge on July 7 ordered the company to turn over about half of the documents that it withheld from discovery requests submitted by a customer suing it for real estate settlement and debt collection practices.
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July 20, 2022
Dismissal Of Claims In Borrower Suit Over Home Seizure Overturned On Appeal
SAN FRANCISCO — Although a federal district court erred in dismissing certain claims brought by a borrower against his mortgage loan servicer and one of its agents on claims that they forcibly entered his home while he was at work and took possession of the property and certain of the borrower’s personal belongings while the judicial foreclosure proceedings were ongoing, the court did not err in granting summary judgment in favor of the loan servicer on the borrower’s claim for conversion, a Ninth Circuit U.S. Court of Appeals panel ruled July 15 in affirming in part and reversing in part.
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July 20, 2022
Judge Orders Borrower’s Discriminatory Lending Claim Dismissed With Prejudice
PHILADELPHIA — A federal judge in Pennsylvania on July 5 issued a two-page order dismissing an African-American borrower’s race discrimination claim against his commercial mortgage lender with prejudice, ruling that the borrower has failed to sufficiently state a claim for relief.
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July 18, 2022
Panel Partially Sends Foreclosure Proceeds Dispute Back To District Court
NEW YORK — A Second Circuit U.S. Court of Appeals panel on July 14 partially returned a commercial mortgage loan foreclosure proceeds distribution dispute to federal district court to make a determination in the first instance regarding the proper manner of payment “of Interest on Advances.”
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July 14, 2022
Judge Denies Borrowers’ Late Attempt To Amend Complaint In FCRA Action
PHILADELPHIA — A federal judge in Pennsylvania on July 12 rejected a motion filed by borrowers to amend their complaint in a Fair Credit Reporting Act (FCRA) lawsuit against a consumer reporting agency stemming from the borrowers’ inability to refinance their mortgage, ruling that amendment will cause an undue delay and prejudice the consumer reporting agency.
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July 14, 2022
5 Affirmative Defenses In Borrower’s Credit Reporting Suit Stricken
BALTIMORE — A federal judge in Maryland on July 12 ruled that five affirmative defenses asserted by a mortgage lender in a lawsuit alleging that it has illegally attempted to collect on a debt that has already been satisfied are insufficient and the lender’s arguments in support of the affirmative defenses are “underdeveloped.”
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July 12, 2022
Summary Judgment Affirmed In Fannie Mae Lawsuit Over HOA Foreclosure
PASADENA, Calif. — A federal district court did not err in granting a motion for summary judgment filed by mortgage lender Federal National Mortgage Association (Fannie Mae) and a mortgage loan servicer in a homeowners association (HOA) foreclosure dispute because Fannie Mae showed that it had an ownership interest at the time of the HOA foreclosure sale, a Ninth Circuit U.S. Court of Appeals panel ruled July 7 in affirming.
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July 12, 2022
Consumer Must Arbitrate TCPA Claims Against Mortgage Refinancer
DETROIT — A federal judge in Michigan on July 7 ruled that a borrower must arbitrate his class claims against a mortgage refinance company alleging that it violated provisions of the Telephone Consumer Protection Act (TCPA) by placing numerous telephone calls and text messages to his cellular phone because the consumer had inquiry notice of the terms of service for the website services for which he received the communications, which included an arbitration provision.
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July 08, 2022
Borrower Lacked Standing To Challenge Mortgage Loan Assignment, Panel Rules
ATLANTA — A federal district court did not err in dismissing a borrower’s wrongful foreclosure claim against his loan servicer because the borrower lacked the necessary standing to challenge the validity of the assignment of his mortgage and home equity line-of-credit (HELOC) to the servicer, an 11th Circuit U.S. Court of Appeals panel ruled on July 1 in affirming.
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June 30, 2022
Borrower Waived Right To Appeal FDCPA Claim Dismissal, Panel Rules
ATLANTA — A borrower forfeited her opportunity to appeal the dismissal of her Fair Debt Collection Practices Act (FDCPA) claims against her lender, loan servicers and a law firm stemming from the borrower’s default on her mortgage loan and subsequent foreclosure proceedings that were initiated because the borrower failed to object to a federal magistrate judge’s report and recommendation, recommending that the claim be dismissed, an 11th Circuit U.S. Court of Appeals panel ruled June 29 in affirming.
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June 28, 2022
Conn. Panel Affirms Trial Court’s Summary Judgment Ruling In Foreclosure Suit
HARTFORD, Conn. — A Connecticut trial court did not err in granting summary judgment in favor of a mortgage note holder in a foreclosure lawsuit because the trial court correctly addressed each of the arguments raised and determined that the note holder established a prima facie case as to liability and that a borrower failed to provide any evidence in support of special defenses she raised, a Connecticut Court of Appeals panel ruled June 28 in affirming.
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June 27, 2022
Supreme Court Declines To Take Up Review Of Mortgage Recording Tax Appeal
WASHINGTON, D.C. — The U.S. Supreme Court on June 27 declined review of a New York Court of Appeals ruling denying a credit union member’s request to appeal a ruling upholding the dismissal of its class action seeking refunds of mortgage recording taxes (MRT) borrowers paid for loans obtained by federal credit unions.
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June 24, 2022
Review Of Mortgage Recording Tax Appeal Not Warranted, High Court Told
WASHINGTON, D.C. — U.S. Supreme Court review of a New York Court of Appeals ruling denying a credit union member’s request to appeal a ruling upholding the dismissal of its class action seeking refunds of mortgage recording taxes (MRT) borrowers paid for loans obtained by federal credit unions should be denied because the petitioner is not a federal credit union and, therefore, the petition is a poor vehicle for addressing the question posed for review, respondents argue in a May 24 opposition brief filed in the high court.
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June 24, 2022
Judge: Borrower Claims Challenging Foreclosure Barred By Collateral Estoppel
CAMDEN, N.J. — A federal judge in New Jersey on June 6 dismissed claims brought by a borrower in a lawsuit challenging her mortgage lender’s initiation of foreclosure proceedings stemming from the borrower’s default on her mortgage loan, ruling that the borrower is collaterally estopped from bringing her claims, which she brought as counterclaims in the state court foreclosure action.
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June 24, 2022
Exclusion Of Expert Testimony In Predatory Lending Case Incorrect, County Says
CHICAGO — A federal district court abused its discretion in excluding an Illinois county’s statistician from testifying as an expert in a lawsuit alleging that Bank of America Corp. and other banks engaged in a massive discriminatory and predatory lending scheme against minority borrowers in violation of the Fair Housing Act of 1968 (FHA) because, in issuing its ruling, the court misapplied Federal Rule of Evidence 702, as well as the U.S. Supreme Court’s ruling in Daubert v. Merrell Dow Pharmaceuticals Inc., the county argues in a June 15 appellant brief filed in the Seventh Circuit U.S. Court of Appeals.
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June 24, 2022
Equifax Dismissed From Borrower’s FCRA Lawsuit After Settlement Reached
CAMDEN, N.J. — Borrowers in a Fair Credit Reporting Act (FCRA) lawsuit against credit reporting agency Equifax Information Services LLC, PHH Mortgage Corp. and Capital One Bank (USA) NA filed a second notice of voluntary dismissal on June 8 in their lawsuit against the defendants over alleged erroneous accounts reported by Equifax on their credit reports stemming from the borrowers’ filing for Chapter 13 bankruptcy.