REFinBlog

Editor: David Reiss
Brooklyn Law School

December 4, 2017

Monday’s Adjudication Roundup

By Jamila Moore

  • The Eleventh Circuit affirmed the conviction of a Florida resident, Ravindranauth Roopnarine, for his attempt to defraud the government. The Florida man received an approximate sentence of 22 years. Furthermore, he must pay a sum of more than $9 million in restitution for his mortgage fraud scheme.
  • In effort to decrease its own liability, Wells Fargo Bank NA filed a “Memorandum of Law in Opposition to Motion.” Wells Fargo Bank NA asserted its adversaries were attempting to diminish their role in the mishandling of 12 residential mortgage-backed securities trusts.
  • A Kansas based bank, Lawrence, settled a claim with the Federal Reserve for $2.8 million. Lawrence allegedly defrauded homebuyers by misrepresenting terms of their mortgages. The $2.8 million will go towards repaying homeowners for their funds slated to their “discount points.”
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Comments

  • John T Maher says:

    Prof. Reiss

    Love your brilliant blog which has its fingers on the pulse of mortgage interest rates everywhere.

    A minor issue: the click thru links to LAW360 do not resolve to the article cited. One gets the general sign up page for LAW360. Possible to link to another online source.

    Many thanks,

    John T. Maher

    • Jamila Moore says:

      Hi John,

      I hope you are well.

      In order to access the links, you must subscribe to Law360. While the subscription costs, it does provide for free trials.

      I hope this information is helpful.

      Best,

      Jamila Moore

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