February 8, 2016
Monday’s Adjudication Roundup
- Bank of America settles for $6.2 million in notice class actions suit, in which class members accuse the bank of systematically failing to give timely mortgage satisfaction notices.
- Morgan Stanley will pay $63 million to the FDIC in state and federal claims that it misrepresented residential mortgage-backed securities.
- Deutsche Bank National Trust Co. will not escape the entire $3.1 billion Royal Park Investments class action suit. A NY federal judge dismissed only the derivative claims.
- Wells Fargo settles for $1.2 billion in suit for defrauding the FHA.
- HSBC settled, in multiple settlements, for $601 million with state and federal regulators and enforcement agencies in suits related to mortgage origination, servicing and foreclosure activities.