March 23, 2015

Monday’s Adjudication Roundup

By Shea Cunningham

Court denies US Bank’s opportunity to revive suit against Citigroup over hundreds of millions of dollars in mortgage-backed securities sold during the financial crisis. IL court refuses to dismiss suit against Bank of America over lowering underwriting standards for borrowers … Continue reading

March 16, 2015

Monday’s Adjudication Roundup

By Shea Cunningham

BofA has asked a PA federal judge to dismiss a class action RICO suit alleging kickbacks from overpriced mortgage insurance claiming it is the same suit that was dismissed as time-barred by Third Circuit in October. Deloitte is potentially facing … Continue reading

March 9, 2015

Monday’s Adjudication Roundup

By Shea Cunningham

Shareholders of Deutsche Bank petitioned for cert to the U.S. Supreme Court to clarify the standard for a claim for pleading a fraudulent claim under Section 11 of the Securities Act of 1933 following the Second Circuit tossing their suit … Continue reading

March 4, 2015

Wells Fargo Smackdown

By David Reiss

Circuit Judge Elliott of Missouri Circuit Court issued a Judgment in Holm v. Wells Fargo et al. (No. 08CN-CV00944 Jan. 26, 2015) that awarded nearly three million dollars in punitive damages. This is just one of a number of searing … Continue reading

February 26, 2015

Tenants in Foreclosure

By David Reiss

Judge Demarest issued a Decision and Order in 650 Brooklyn LLC v. Hunte et al. (No. 504623/2013 Feb. 5, 2015). The defendants moved for dismissal because the foreclosing plaintiff failed to comply with a relatively new NY statute that requires … Continue reading

February 23, 2015

Mortgage Assignment Mayhem

By David Reiss

Judge Drain issued a biting Memorandum of Decision on Debtor’s Objection to Claim of Wells Fargo Bank, NA in the case In re Carrsow-Franklin (No. 10-20010, Jan. 29, 2015). The Court granted the debtor’s claim objection “on the basis that … Continue reading

February 11, 2015

Wednesday’s Academic Roundup

By Shea Cunningham

Banking Integration and House Price Comovement, by Augustin Landier, David Alexandre Sraer & David Thesmar, CEPR Discussion Paper No. DP10295. Second-Liens and the Leverage Option, by Adam J. Levitin & Susan M. Wachter, U of Penn. Inst. for Law & … Continue reading