July 19, 2013
Bad Faith Remedies for Loan Modification Negotiations
New York Supreme Court Justice Torres (Bronx) issued a Decision and Order in Citibank, N.A. v. Barclay et al., No. 381649-09 (June 21, 2013), in which he evaluated what the appropriate remedies were for failing to negotiate in “good faith” … Continue reading
July 19, 2013 in New York | Permalink | No Comments
June 3, 2013
NY Federal Magistrate Issues Declaratory Ruling That Note Transfer Is Effective
Magistrate Judge Gold issued an opinion in Robinson v. H & R Block Bank, 12-Civ-4196 (EDNY, May 29, 2013). Professor Dale Whitman posted a commentary about it on the Dirt listserv and he has given us permission to cross-post it … Continue reading
June 3, 2013 in New York | Permalink | No Comments
May 31, 2013
NY Appellate Court Rules Modification Not Enforceable in Foreclosure
The Appellate Division ruled in Wells Fargo Bank, N.A. v. Meyers, 2013 Slip Op. 03085 (2d Dep’t), that a failure to negotiate a loan modification in good faith, which is required under NY foreclosure law, does not support the unilateral … Continue reading
May 31, 2013 in New York | Permalink | No Comments
May 3, 2013
Noncompliance with PSA Voids Assignment of Note and Mortgage
Wells Fargo Bank, N.A. v Erobobo, 2013 NY Slip Op 50675(U) (Sup. Ct. Kings, Apr. 29, 2013) reaches a pretty extraordinary result: noncompliance with the assignment provisions of a Pooling and Servicing Agreement voids the assignment of a note and … Continue reading
April 8, 2013
Rule of Law Cuts Both Ways
The New York Appellate Division (2d Dep’t) reversed orders by Justice Schack of New York Supreme Court (Kings County) in HSBC Bank USA, N.A. v. Taher. Justice Schack became something of a folk hero to many for holding lenders’ feet … Continue reading
April 8, 2013 in New York | Permalink | No Comments
April 4, 2013
Stand-Offish
Judge Swain (SDNY) issued a Memorandum Opinion and Order in Rajamin v. Deutsche Bank National Trust Co. in which she followed “the weight of caselaw throughout the country” to effectively hold that “a non-party to a [Pooling and Servicing Agreement … Continue reading
April 4, 2013 in New York | Permalink | No Comments
February 13, 2013
New York Supreme Court Holds that Judgment of Foreclosure and Sale May be Vacated Where Bank did not Own the Mortgage Note and Mortgage on the Date it Commenced the Foreclosure Suit
In Wells Fargo v. Sposato, 2013 N.Y. Misc. LEXIS 75, 2013 NY Slip Op 30034(U) (N.Y. Sup. Ct. Jan. 7, 2013), the Supreme Court of New York, Richmond County held that a judgment of foreclosure and sale be vacated where … Continue reading
February 13, 2013 in New York | Permalink | No Comments
