Bank of New York Mellon v. Watt, 14-cv-02051 (April 22, 2015 D.Or.), is an appeal from a Bankruptcy Court order confirming a Chapter 13 plan that included a non-standard provision proposing to both surrender the property _and_ to vest title to the Debtor’s vacation home in the name of mortgagee…
Read More »The residential home sellers in Bushman v. Am. Title Co. of Washtenaw, No. 14-CV-10011, (E.D. Mich. Apr. 2, 2015) brought a class action against various title insurance companies and title agencies alleging the defendants defrauded them and violated the Michigan Consumer Protection Act (MCPA) when they charged and collected real…
Read More »The Plaintiff-debtor in Kaymark v. Bank of Am., N.A., 783 F.3d 168 (3d Cir. Apr. 7, 2015) filed a class action against his lender and its foreclosure attorneys alleging, inter alia, violations of §§ 1692e(2)(A), (5), (10), and 1692f(1) of the FDCPA because the foreclosure complaint sought attorneys’ fees which…
Read More »Sullivan v. Glenn, No. 14-3213 (7th Cir. Apr. 2, 2015) presented two questions of bankruptcy law: whether, if a debt is the result of fraud, the debtor can discharge the debt in bankruptcy if he was not complicit in the fraud; and whether he can discharge the debt even if…
Read More »After borrowing over a million dollars to develop property, the debtor in Firstmerit Bank, N.A. v. Soltys, 2015 IL App (1st) 140100 (Mar. 11, 2015) transferred his interest in six other properties to separate Illinois land trusts. The development project failed a year later and the bank commenced foreclosure proceedings.…
Read More »The Seventh Circuit reversed a district court’s decision which held that under TILA the date of receipt of an online mortgage payment is the date the servicer receives the funds rather than the date the online payment is authorized. In Fridman v. NYCB Mortgage Co., 14-2220 (7th Cir. Mar. 11,…
Read More »In Old Second Nat. Bank v. Indiana Ins. Co., 2015 IL App (1st) 140265, the defendant insurance company appealed from an order awarding a monetary judgment and pre-judgment interest to the mortgagee arising from the insurer’s denial of coverage under a policy of insurance. The facts were not disputed. The…
Read More »The disposition of a Commercial Mortgage-Backed Securities (CMBS) loan purchaser’s attempt to secure a deficiency judgment against the mortgagor in Borman, LLC v. 18718 Borman, LLC, No. 14-1419 (6th Cir. Feb. 3, 2015) required familiarity with the structure of CMBS loans. The Sixth Circuit explained that in order to attract…
Read More »On the court’s motion, debtor and his counsel in Huebner v. Midland Credit Management, Inc., No. 14-cv-6046 (E.D. N.Y., Feb. 11, 2015), were ordered to show cause why debtor’s bogus FDCPA complaint against defendant collection agency should not be dismissed with attorneys’ fees, costs, and sanctions to issue. In what…
Read More »The Consumer Financial Protection Bureau (CFPB) brought an action against a law firm alleging the firm violated section 12 U.S.C. §2607(a) of RESPA prohibiting the giving or receiving of any fee, kickback, or thing of value, when it allegedly received kickbacks masked as profit distributions from title companies in which…
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