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Mealey's Mortgage Lending

  • 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.).

  • November 8, 2018

    7th Circuit Affirms Ruling For Wells Fargo On RESPA, Wisconsin Law Claims

    CHICAGO — After finding that borrowers failed to show that they suffered any actual harm in violation of the Real Estate Settlement and Procedures Act (RESPA) and that a claim for violation of Wisconsin law was precluded by a foreclosure ruling, a panel of the Seventh Circuit U.S. Court of Appeals on Nov. 7 affirmed a summary judgment decision in favor of a bank (Terrence Moore, et al., v. Wells Fargo Bank, N.A., No. 18-1564, 7th Cir., 2018 U.S. App. LEXIS 31534).

  • November 7, 2018

    Borrower Failed To Show UCL Violations, Wrongful Foreclosure, Judge Rules

    LOS ANGELES — A California federal judge on Nov. 5 dismissed a borrower’s claims for violation of California’s unfair competition law (UCL), fraud, wrongful foreclosure and other claims related to a property foreclosure, holding that her allegations were conclusory (Shirley Brown v. Bank of America, N.A., et al., No. 18-3418, C.D. Calif., 2018 U.S. Dist. LEXIS 189232).

  • November 6, 2018

    Judge Finds Borrowers’ Lawsuit Barred By State Foreclosure Case

    BOSTON — After holding that a state court foreclosure case involved the same parties and claims as a second lawsuit, a Massachusetts federal judge on Nov. 2 abstained from exercising jurisdiction under the prior-pending-action and Colorado River abstention doctrines (David C. Bradeen, et al. v. The Bank of New York Mellon Trust Company, et al., No. 18-cv-11753, D. Mass., 2018 U.S. Dist. LEXIS 188586).

  • November 5, 2018

    Judge Lets Lender Intervene In USDA Discovery Matter, Deems Documents Privileged

    TUCSON, Ariz. — An Arizona federal judge on Oct. 29 granted a bank’s motion to intervene in a discovery dispute related to a purportedly defaulted U.S. Department of Agriculture (USDA) guaranteed loan for the purpose of protecting documents it claimed were privileged, with the judge also agreeing about the documents’ privileged status (Sun Sky Hospitality LLC v.  U.S. Department of Agriculture, No. 4:18-cv-00094, D. Ariz., 2018 U.S. Dist. LEXIS 184742).

  • November 5, 2018

    Borrowers Allege Loan Servicers, Others Breached UCL In California Court

    SACRAMENTO, Calif. — A borrower on Oct. 31 sued a loan servicer and others in a California court, asserting claims for breach of contract, violation of California’s unfair competition law (UCL) and other claims, asserting that they improperly handled her loan modification (Eusebia Santiago v. Cooper, et al., No. 2018-00243508, Calif. Super., Sacramento Co.).

  • November 2, 2018

    Borrowers Failed To Show Wells Fargo Violated HBOR, Judge Holds

    SACRAMENTO, Calif. — After finding that borrowers failed to show that a bank violated California’s Homeowners Bill of Rights (HBOR), a California federal judge on Oct. 31 dismissed the claims and causes of action for declaratory relief and violation of California’s unfair competition law (UCL), as predicated on the HBOR cause of action (Bruno J. Bicocca v. Wells Fargo Bank, N.A., No. 2:17-cv-01158, E.D. Calif., 2018 U.S. Dist. LEXIS 186722).

  • November 2, 2018

    Judge Finds No Facts To Support FDCPA, UCL Claims Related To Foreclosure

    SAN JOSE, Calif. — After finding that no genuine issues of material fact existed as to the status of a borrower’s loan, a California federal judge on Oct. 30 granted summary judgment on claims for violation of the Fair Debt Collection Practices Act (FDCPA), California’s unfair competition law (UCL) and other claims against a loan servicer and lender in relation to a property foreclosure (Rani Yadav-Ranjan v. Rushmore Loan Management Services, LLC, No. 17-cv-03939, N.D. Calif., 2018 U.S. Dist. LEXIS 186744).

  • October 31, 2018

    Federal Judge Refuses To Strike Relators’ Claims Against JPMorgan Chase

    SHERMAN, Texas — A Texas federal judge on Oct. 30 denied a bank’s request to strike allegations against it asserted by a group of relators, holding that the bank failed to show that its alleged conduct before a $25 billion settlement reached with the U.S. government and others did not relate to current allegations for violations of Home Affordable Modification Program (HAMP) guidelines (Michael J. Fisher, et al. v. JPMorgan Chase Bank, N.A., No. 4:16-CV-00395, E.D. Texas, 2018 U.S. Dist. LEXIS 185384).

  • October 30, 2018

    5th Circuit Affirms Dismissal Of FDCPA, TILA Claims, Warns Of Sanctions

    NEW ORLEANS — The Fifth Circuit U.S. Court of Appeal on Oct. 25 affirmed a district court’s dismissal of a borrower’s claims for violation of the Truth in Lending Act (TILA) and the Fair Debt Collection Practices Act (FDCPA) against lenders for failure to state a claim, warning that it would issue sanctions against him if he files any future frivolous claims (Jerry Mason v. Ocwen Loan Servicing LLC, et al., No. 17-10941, 5th Cir., 2018 U.S. App. LEXIS 30140).

  • October 29, 2018

    9th Circuit Affirms Dismissal Of Claims Against Lenders For Lack Of Standing

    PASADENA, Calif. — The Ninth Circuit U.S. Court of Appeals on Oct. 26 affirmed a district court’s dismissal of claims for violation of the Real Estate Settlement Procedures Act (RESPA), California’s unfair competition law (UCL) and other claims, holding that borrowers failed to show that lenders engaged in business acts that were unlawful, unfair or fraudulent or that they submitted evidence to show that the lenders did not sufficiently respond to their qualified written requests (Jim Ross Meskimen, et al. v. The Bank of New York Mellon, et al., No. 18-55394, 9th Cir., 2018 U.S. App. LEXIS 30320).

  • October 26, 2018

    Judge Holds Owner Violated Order Appointing Receiver By Filing State Court Case

    DETROIT — A Michigan federal judge on Oct. 25 granted a holding company’s emergency motion for retention of a court-appointed receiver, holding that an entity that purchased a property at foreclosure had no authority to file a state court lawsuit in an attempt to extinguish the holding company’s redemption interest in the property (The Sawyers and Lerner Building LLC v. Auto Club Lampost LLC, et al., No. 2:16-cv-11003, E.D. Mich., 2018 U.S. Dist. LEXIS 183051).

  • October 25, 2018

    Judge Dismisses Lawsuit Against Bank As Barred By Foreclosure Case

    CHICAGO — An Illinois federal judge on Oct. 23 granted a bank’s motion to dismiss a complaint filed by a borrower, holding that claims for breach of contract and other causes of action were barred by a foreclosure judgment (Navin Desai v. Hanmi Bank, No. 18-3621, N.D. Ill., 2018 U.S. Dist. LEXIS 181467).