Donald Trump Sanctioned for Failure to Disclose Insurance Policy In Ft....
Last week, Judge Kathleen Williams of the U.S. District Court for the Southern District of Florida granted plaintiffs’ motion for sanctions against Donald Trump for his initial failure to disclose a...
View ArticleBig Banks Argue that Shorter Limitations Period Should Apply to MBS Claims
Recently, the defendants in FDIC as Receiver for Colonial Bank v. Chase Mortgage Finance Group, et al (Civ No. 1:12-cv-06166) filed a motion for judgment on the pleadings, asking the court to dismiss...
View ArticleMain Street Cashes $3.1 Billion in Checks from Wall Street
With the mortgage crisis almost a decade in the rear-view mirror, some harmed homeowners are just now starting to see reparations for the transgressions of the country’s largest financial...
View ArticleCitigroup Settles with DOJ for $7 Billion
Citigroup announced last week that it will pay $7 billion to end an investigation by the U.S Department of Justice into misconduct related to its mortgage securitization practices. The blockbuster...
View ArticleZillow Acquires Trulia
This Monday, online real estate listing company Zillow announced that it will acquire its biggest competitor, Trulia, in a stock-for-stock purchase transaction. The acquisition has already raised the...
View ArticleServicer’s Error Leads to $16 Million Award
Kate Berry reported in American Banker and SourceMedia’s National Mortgage News on how a $616 servicing error snowballed into a $16 million jury verdict. It was reported that a jury last month awarded...
View ArticleEditorial: Banks Can Fight Buyback Claims with a Little Help from BofA
Bank of America took a big hit when it reached a record-breaking $16.65 billion mortgage settlement with the United States Department of Justice in August. The company is likely to attempt to recoup as...
View Article[Video] : In The Cross-Hairs? Protecting Your Company Against Consumer...
Watch an in-depth webinar presented by Litigation Partner Philip R. Stein, about the Consumer Financial Protection Bureau's attempts to expand its jurisdiction and authority over consumer finance...
View ArticleRegulators Increase Scrutiny of Wall Street Lending
Federal bank regulatory agencies are significantly increasing their scrutiny of Wall Street bank lending, moving from annual reviews to a system of monthly audits in a major effort to curtail...
View ArticleBofA Underwater Mortgage Cases Hit Supreme Court
The U.S. Supreme Court will hear two cases brought by Bank of America regarding whether a second mortgage on an underwater property can be voided during Chapter 7 bankruptcy. Both cases involve Florida...
View ArticleThe Need for Homebuilder Vigilance About Copyrights
Are homebuilders as vigilant as they should be in protecting their intellectual property rights — including the copyrights that qualifying architectural drawings and structures receive automatically as...
View ArticleFormer JPMorgan Chase Insider Blows the Whistle
Matt Taibbi of Rolling Stone recently profiled the woman JPMorgan Chase paid one of the largest fines in American history to keep from talking in his article, The $9 Billion Witness: Meet JPMorgan...
View ArticleFHFA Orders Contributions to Housing Trust Fund
Earlier this month, the Federal Housing Finance Agency (“FHFA”) ordered Fannie Mae and Freddie Mac to begin making contributions to the Housing Trust Fund (“HTF”) and the Capital Magnet Fund (“CMF”)....
View ArticleFighting Back Against CFPB Demands
An increasing number of banks, mortgage lenders, auto finance companies and other financial services industry participants are dealing with inquiries, investigations and actual or threatened legal...
View ArticleSupreme Court Eases Requirements for Homeowners Rescinding Mortgages
The U.S. Supreme Court recently held in Jesinoski v. Countrywide Home Loans, Inc. that borrowers exercising their right to rescind mortgages under the Truth in Lending Act (“TILA”) only need to provide...
View ArticleHuge Settlements Between S&P, Government
2015 is leaving Standard and Poor’s (S&P) quite a bit poorer. Yesterday, the major credit rating agency agreed to pay $1.375 billion to resolve lawsuits brought against it by the U.S. Department of...
View Article[Video] Homebuilder Series Webinar: Fiduciary Duties & Auditor Liability
Watch an in-depth Homebuilder Series webinar that discusses auditor liability and fiduciary duties. Two issues of recurring interest to company officers and directors are the potential liabilities of...
View ArticleFraud Verdict Against Countrywide & BofA Upheld
BofA’s “hustling” attempt to overturn a $1.27 billion judgment against it and Countrywide—along with the individual defendant identified in the next paragraph, the “Defendants”—in the U.S. District...
View ArticleNew Development Opportunities Through Public-Private Partnerships
Homebuilders and developers may want to consider availing themselves of opportunities arising through public-private partnerships (P3s). The Obama administration has recently proposed several creative...
View ArticleBofA’s Inconsistent Positions
Bank of America recently moved to dismiss a lawsuit filed by Ambac Assurance Corp. in New York state court, alleging $600 million in damages for fraudulent inducement in connection with payments it...
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