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March 28, 2017

Sundquist v. Bank of America: $45 Million for violations of Automatic Stay

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by the LendingLies Team In most cases, the damages awarded to homeowners are so paltry that they do little to punish unlawful conduct or to deter future behavior by servicers.  The banks continue their crime spree unabated.  Those days may be over.  A bankruptcy court in Sacramento, California recently issued a $45 million dollar punishment …

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Gretchen Morgenson Strikes Again: A Revolving Door Helps Big Banks’ Quiet Campaign to Muscle Out Fannie and Freddie

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By New York Times reporter Gretchen Morgenson Seven years after their dubious lending practices helped push the United States economy to the brink of disaster, the nation’s largest banks are closing in on a long-sought goal: to unseat Fannie Mae and Freddie Mac, the mortgage finance giants, and capture their share of the profits in …

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The Consumerist: Complaints About Student Loan Servicing Increased 429% In Past Year

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https://consumerist.com/2017/03/28/complaints-about-student-loan-servicing-increased-429-in-past-year/ In the past year, federal regulators and consumer advocates have highlighted issues with student loans and the servicing of these often crippling debts: from finding that educational loans continue to haunt older borrowers, to suing Navient, the largest student loan servicing company. Because of this, it might not come as much of a surprise that …

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Texas Courts confirm: The Homeowner must be foreclosed upon before suing for wrongful Foreclosure

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http://www.lexology.com/library/detail.aspx?g=da21e31b-d490-48b4-ae3a-cc663fb66591 The U.S. Court of Appeals for the Fifth Circuit recently affirmed a trial court’s denial of a mortgagor’s motion for remand because the non-diverse substitute foreclosure trustee was improperly joined in order to defeat diversity jurisdiction. The Fifth Circuit also affirmed the trial court’s summary judgment ruling in favor of the trustee and loan …

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Before the Bubble Pops: Inflated Demand and Unaffordable Prices

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by Vince Golle March 27, 2017, 12:41 PM EDT The paucity of houses on the market remains a nagging hurdle for those Americans interested in trading up or looking to take their first step into homeownership. With a limited number of property listings amid solid demand, sellers have little reason to reduce asking prices. From …

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