Law Advice

DALLAS – In an action arising from an attempted loan modification, a federal judge in Texas on Jan. 20 dismissed most claims in the suit which alleges breach of contract, state debt collection statute violations and other violations against Bank of America N.A. and other defendants (Swim, et al. v. Bank of America N.A., et [...]

PHOENIX – In a case in which a plaintiff seeks to recover the remaining debt on a loan in default, a federal judge in Arizona on Jan. 19 denied the defendants’ motion to dismiss, rejecting their argument that Arizona’s anti-deficiency statutes bar recovery (Watson Communication Systems Inc. v. Thomas D. Adamson, Kathleen J. Adamson, No. [...]

SPOKANE, Wash. – A federal judge in Washington on Jan. 19 granted intervener plaintiff the Federal Deposit Insurance Corp.’s (FDIC) motion to transfer a loan-related case filed by a bank against another bank’s holding company from the Eastern District of Washington to the Western District of Washington (Sterling Savings Bank v. Clark County Bancorporation, et [...]

Investors and the public were misled about the deteriorating condition of BankAtlantic Bancorp, the SEC has alleged in a lawsuit filed in federal court. The suit alleges that BankAtlantic and its chairman, Alan Levan, made misleading statements in public filings, and also committed accounting fraud. View full post on Law.com – Newswire

SAN DIEGO – A man successfully alleges that a lender violated the unfair competition law (UCL) by reducing the value of his home equity loan based on faulty price evaluations, a California judge held Jan. 13 (Bryan Vess, et al. v. Bank of America, N.A., et al., No. 10-920, S.D. Calif.; 2012 U.S. Dist. LEXIS [...]

TUSCON, Ariz. – A federal judge in Arizona on Jan. 11 granted the U.S. government’s motion for summary judgment against a defendant who defaulted on his student loan, ordering the defendant, who did not respond to the motion, to pay the government more than $ 54,000 principal plus interest (United States of America v. Scott [...]

A legal malpractice claim may go forward against Cadwalader for the firm’s advice to a Japanese securities company about the safety of commercial loan investments in the 1990s, a New York judge has determined, ruling that triable issues of fact remain about the firm’s handling of loans worth about $1.8 billion. View full post on [...]

PHOENIX – A federal judge in Arizona on Jan. 3 dismissed a plaintiff’s suit alleging that JP Morgan Chase Bank violated state laws via misrepresentations regarding his loan, finding that he lacked standing to bring the suit (Nicholas A. Henkels v. JP Morgan Chase Bank, National Association, successor in interest to Washington Mutual Bank, FA, [...]

SAN DIEGO – A federal judge in California on Dec. 29 denied without prejudice a motion to certify a class for borrowers who were denied permanent loan modifications from BAC Home Loans Servicing LP after finding that the proposed class definition was imprecise and could not have sufficient numbers to support a class action (Dennis [...]

HOUSTON – A federal judge in Texas on Jan. 3 granted an amended temporary injunction against a defendant that defaulted on a $ 15 million loan and imposed a constructive trust on property related to the loan (Amegy National Bank v. Monarch Flight Inc., et al., No. 11-3218, S.D. Texas; 2012 U.S. Dist. LEXIS 101). [...]