In a homeowner class action, the United States Court of Appeals for the Third Circuit recently held that a lender that modifies a mortgage cannot rely on an updated property value to recalculate the length of the homeowner’s mortgage insurance obligation under the Homeowners Protection Act (the “HPA”) unless same is expressly set forth in the loan modification agreement.
The Appellate Division of New York, Second Department, recently affirmed the Supreme Court’s determination that a foreclosing bank’s successor in interest can recommence an otherwise time-barred foreclosure action within six months of the initial action being dismissed as abandoned.
The United States Court of Appeals for the Eleventh Circuit recently affirmed a lower court’s decision that a servicer did not violate the Real Estate Settlement Procedures Act (“RESPA”) by signing a certified mail return receipt card in response to a borrower’s request for information (“RFI”).
The United States Court of Appeals for the Ninth Circuit recently held that a directors-and-officers liability-insurance policy issued to a bank (the “D&O Policy”) did not cover claims made by the Federal Deposit Insurance Corporation (“FDIC”) after the bank failed.
The United States District Court for the Western District of New York recently granted defendant’s motion to dismiss plaintiff’s first cause of action alleging violations of the Fair Debt Collection Practices Act, 15 U.S.C. 1692 et seq. (“FDCPA”), on the ground that plaintiff failed to sufficiently plead that the communications from defendant were sent in an attempt to collect a debt.
In recent years, the question of whether a full-credit bid at a foreclosure sale constitutes a payment under a title insurance policy has been the subject of widespread dispute. Jumping into the fray, the Arizona Supreme Court recently ruled on the issue and held that an insured lender’s full-credit bid at a trustee’s sale did not constitute such a payment.
The United States District Court for the District of Maryland recently granted defendants’ motion to dismiss plaintiff’s complaint with prejudice, holding that a previously filed foreclosure action precluded the present action on res judicata grounds.
The Supreme Court of New York, Westchester County, recently granted defendant’s motion to vacate a confession of judgment entered against it, voiding the underlying written merchant agreement, and cancelling and enjoining prosecution of the agreement on the ground that the transaction was usurious.
The Supreme Court of New York, New York County, recently granted defendant bank’s motion to dismiss a claim that it wrongfully withdrew plaintiff’s funds from his account after another defendant falsely claimed his checks were forged. See Galitsa v. Berkley, 2016 N.Y Slip Opp. 32468(U) (N.Y. Sup. Ct. 2016).
The United States District Court for the Eastern District of New York recently denied a defendant debt collector’s motion to dismiss plaintiff’s putative class action alleging violation of the Fair Debt Collection Practices Act, 15 U.S.C. 1692 et seq. (“FDCPA”), finding that plaintiff sufficiently alleged a substantive violation of the FDCPA that demonstrates a concrete and particularized injury-in-fact, or, alternatively, a procedural violation of the FDCPA that poses a risk of real harm to plaintiff’s statutory interests.