Nearly one-third of lawyers who participated in a recent employment survey said they planned to hire full-time legal professionals during the fourth quarter of 2012.
A “bill of rights” designed to protect homeowners and borrowers during the mortgage and foreclosure process has been enacted in California.
A law firm may be liable under federal debt collection law for filing a foreclosure complaint that failed to correctly identify the actual current holder of the mortgage, the 6th Circuit has ruled in reversing a dismissal.
Financial services company Wells Fargo & Co. said it has reached a settlement agreement with Memphis, Tenn. and Shelby County to drop a lawsuit against it for alleged foreclosure-related race-discrimination. The bank was charged of doing much more foreclosures in predominantly African-American neighborhoods than in white neighborhoods.
Massachusetts Attorney General Martha M. Coakley is suing five national banks and the Mortgage Electronic Registration System for allegedly pursuing illegal foreclosures on properties in Massachusetts as well as deceptive loan servicing.
Published: October 18, 2011
Tags: Financial Institutions Reform Recovery and Enforcement Act, foreclosures, MERS, mortgage, Mortgage Electronic Registration Systems
A New York law firm with a high-volume foreclosure practice has agreed to pay $2 million and reform its procedures to settle a federal investigation into allegations that it filed misleading documents in state and federal courts.
Developers could be sued for allegedly injuring homeowners by causing a drop in property values through sales to individuals with a high risk of foreclosure, the 9th Circuit has ruled in reversing a dismissal.
A home lender may be liable for consumer fraud law based on its allegedly breaching of agreements to forbear on foreclosure proceedings, the New Jersey Supreme Court has ruled in reversing a dismissal.
The California Department of Justice and the state bar have sued several law firms and attorneys for deceptive marketing of “mass joinder” lawsuits in the guise of providing mortgage relief to distressed homeowners.
A law firm that represented lenders in foreclosure cases was not required to comply with an investigative subpoena issued under state unfair trade practices law, the Florida Court of Appeals has ruled in affirming an order to quash.