January 25, 2017
HUD, Exit Stage Left
President Obama had members of his Cabinet write Exit Memos that set forth their vision for their agencies. Julián Castro, his Secretary of HUD, titled his Housing as a Platform for Opportunity. It is worth a read as a roadmap of a progressive … Continue reading
January 25, 2017 in Downstream litigation | Permalink | No Comments
May 9, 2016
Mortgage Servicers’ Unclean Hands
Judge Butchko, sitting in a Florida Circuit Court, granted a homeowner’s motion for involuntary dismissal of a foreclosure because of the servicer’s unclean hands. There is a lot of interest in the order, but it is worth quoting at length the Court’s discussion … Continue reading
May 9, 2016 in Downstream litigation | Permalink | No Comments
February 24, 2016
Challenging Wrongful Foreclosures
The California Supreme Court issued an opinion a few days ago that has been getting a lot of attention, Yvanova v. New Century Mortgage Corp., S218973 (Feb. 18, 2016). The opinion opens by noting that The collapse in 2008 of the housing … Continue reading
February 24, 2016 in Downstream litigation | Permalink | No Comments
January 29, 2016
Outrage
A federal judge has held that a mortgage servicer committed “the tort of outrage when it charged attorney’s fees and costs to plaintiff’s mortgage account and refused to explain the charges upon request.” (1) Lucero v. Cenlar FSB, No. C13-0602RSL … Continue reading
January 29, 2016 in Downstream litigation | Permalink | No Comments
January 11, 2016
Monday’s Adjudication Roundup
New York state appeals court affirmed denying dismissal of claims against Morgan Stanley for fraud. Plaintiff bought $17 million in high-risk notes tied to residential mortgage-backed securities in a $500 million collateralized debt obligation that eventually were wiped out. Quicken … Continue reading
January 11, 2016 in Downstream litigation | Permalink | No Comments
January 4, 2016
Monday’s Adjudication Roundup
The U.S. Department of Justice has filed suit against Trump Village Section IV in Brooklyn for allegedly violating the Fair Housing Act by not allowing emotional support dogs to live with their owners who suffered from disabilities. Ocwen Financial Corp. … Continue reading
January 4, 2016 in Downstream litigation | Permalink | No Comments
December 28, 2015
Monday’s Adjudication Roundup
HSBC settles class action by homeowners that claimed the bank received kickbacks for insurance policies on their properties. Goldman Sachs, Deutsche Bank and RBS have petitioned the US Supreme Court to consider repose statutes and statutes of limitations extenders that … Continue reading
December 28, 2015 in Downstream litigation | Permalink | No Comments