The United States Court of Appeals for the Fifth Circuit recently held that money lent in exchange for the transfer of tax liens does not constitute an extension of credit covered by the Truth in Lending Act (“TILA”).
The Superior Court of Pennsylvania recently affirmed a trial court’s grant of summary judgment for a title insurance company and found that there was no coverage under the policy because the alleged title defect did not affect the insured property.
A Florida appellate court recently held that a profit sharing agreement between a mortgagor and a mortgagee that limited the mortgagee’s advances prevailed over a mortgage that secured future advances, and effectively limited the mortgagor’s liability under the mortgage regardless of the amount loaned.
A New Jersey Chancery Division court recently granted a defendant-lender summary judgment on the doctrine of equitable subrogation despite the defendant’s representative authorizing another lender to reopen a line of credit that was secured by a prior-recorded mortgage on the property.
The New Jersey Appellate Division recently held that a bank did not violate New Jersey’s Law Against Discrimination (“LAD”) by offering “senior checking accounts” to individuals age sixty years or older with more favorable terms than those available to individuals under the age of sixty.
The Supreme Court of New York, Suffolk County, recently held that a mortgagor who did not properly file a notice of appeal of a loan servicer’s rejection of a loss mitigation plan due to a typo in the email address was foreclosed from staying the foreclosure sale pursuant to the Real Estate Settlement Procedures Act (“RESPA”).
The United States District Court for the Northern District of California recently denied a loan servicer and a loan investor’s motion to dismiss a complaint alleging that their refusal to modify a loan violated the Equal Credit Opportunity Act (“ECOA”).
The United States Court of Appeals for the Seventh Circuit recently held that the assignee of a debt, as well as the debt collector it enlisted, was liable for violating the Fair Debt Collection Practices Act (“FDCPA”) when the debt collector’s correspondence to the debtors did not clearly name the current creditor.
The New Jersey Appellate Division recently held that a mortgagor could not challenge the assignment of a note and mortgage even when the assignment allegedly occurred in violation of a pooling and servicing agreement.
The United States Court of Appeals for the Fourth Circuit recently held that a company that purchased defaulted automobile loans was not a debt collector under the Fair Debt Collection Practices Act (“FDCPA”).