November 23, 2015
Monday’s Adjudication Roundup
- The Second Circuit did not revive $1.2 billion suit against Quicken Loans for due to a statute of limitations issue. Deutsche Bank alleged that Quicken loans breached its contract in transfer of a “shoddy” mortgage portfolio.
- JPMorgan settled mortgage delay class action with two class representatives for failure to give notice of a mortgage payoff of thousands of NYS homeowners.
- Judge does not disqualify a Federal Trade Commission attorney in suit for scheme to defraud distressed homeowners for his role in the investigation.
- The Federal Circuit found that HUD is not party to a contract “under which the company’s low-income housing subsidies were revoked.”
- The Securities and Exchange Commission claims that at least $10 million in funds from EB-5 were diverted to Chinese investors. The SEC is bringing a fraud suit against a doctor, an office manager and businesses for this alleged diversion.
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