A Maryland loan officer accused of violating a ruling barring him from the mortgage industry for his role in a kickback scheme is arguing the terms of his sanction were too ambiguous.
However, regulators are claiming there is nothing confusing about the district’s court’s ruling.
Read on for highlights of court briefs on both sides of the battle, which stemmed from a scheme involving Wells Fargo, JPMorgan Chase and the now-defunct Genuine Title.
An Illinois borrower thought she made the required mortgage payments but her servicer went forward with foreclosure. The borrower filed suit to recoup the default fees and escrow charges she alleged were wrongfully assessed to her account.
The servicer argued the borrower’s RESPA claim fails because the escrow shortage was accurate, the default fees that accrued were proper and the plaintiff failed to show she suffered specific damages.
Read on to see how a federal judge ruled.
A Mississippi woman claimed she and her husband were provided inaccurate disclosure documents which failed to include the credit-life-provision. She filed a class-action suit against the servicer for providing inaccurate disclosure documents, which failed to include the credit-life-insurance provision and misrepresented the true term of the loan.
The district court determined the plaintiff lacks standing to bring her TILA and RESPA claims because she did not execute the note and is therefore not obligated on the loan.
Read on for highlights from the judge’s opinion.
Borrowers for whom English is not their first language (limited English proficiency, or LEP) sued their servicer for a TILA violation, stating they were never advised they had an option for civil litigation for alleged predatory lending until after the trustee’s sale.
A California district court judge determined the mere existence of a TILA violation does not support equitable tolling of TILA’s statute of limitations.
Read on for highlights of the judge’s opinion.
A Florida district court previously dismissed all RESPA allegations stemming from a dispute over whether a servicer had erroneously concluded that borrowers had failed to pay their home mortgage and then neglected to correct that error.
The plaintiffs appealed that decision to the U.S. Court of Appeals for the Eleventh Circuit.
Read on for highlights of the panel’s opinion and see whether the plaintiff’s emotional distress and two other claims withstand a motion to dismiss.
A Maryland couple accused their broker of receiving unearned fees by referring customers to a title company for settlement in a “sham” marketing agreement.
The defendants argued the claim is barred by RESPA’s one-year statute of limitations and that equitable tolling does not apply. They also alleged the plaintiffs did not have standing to bring the claim.
Read on for a federal judge’s findings in the case.
New Federal Housing Finance Agency (FHFA) acting director Joseph Otting will not defend the constitutionality of the agency in a case brought by three Fannie Mae and Freddie Mac shareholders and being heard in an appellate court where the Consumer Financial Protection Bureau’s constitutionality also is being challenged.
The plaintiffs sued over a 2012 agreement between the FHFA and the Treasury Department requiring the government-sponsored enterprises (GSEs) to pay quarterly dividends equal to their entire net worth to the Treasury.
Read on for details from the FHFA’s recent court brief.
Industry experts weren’t surprised when the U.S. Supreme Court recently declined to hear a lawsuit to decide the constitutionality of the Consumer Financial Protection Bureau (CFPB).
So will the high court decide the issue with one of three other cases pending in various appellate courts?
Read on for reaction from Richard Horn, a partner with Garris Horn PLLC; Marx Sterbcow, managing attorney at Sterbcow Law Group and former CFPB Deputy Assistant Director Kathleen “Kitty” Ryan.
A Maryland borrower sued her servicer for allegedly initiating foreclosure proceedings without properly responding to multiple qualified written requests (QWRs).
The servicer argued that Cooke’s letters did not trigger RESPA’s requirements because they did not relate to loan servicing. A federal judge ruled the plaintiff sufficiently alleged multiple violations of RESPA, and that the servicer provided no specific arguments to dismiss any particular claim.
Read on for details from the judge’s opinion.
The U.S. Supreme Court has declined to hear a lawsuit to decide the constitutionality of the Consumer Financial Protection Bureau (CFPB).
State National Bank of Big Spring, Texas, the Competitive Enterprise Institute (CEI) and the 60 Plus Association had petitioned the Supreme Court to rule on a lawsuit that makes a case for abolishing the bureau and every regulation enacted by it.
Read on for reaction from the petitioners.
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