As originators and brokers of mortgage loans continue to get served with new lawsuits (or threatened with potential suits) related to loans that they conveyed to aggregators prior to the financial crisis of 2008, questions...more
2/13/2019
/ Appeals ,
Breach of Contract ,
Contract Disputes ,
Financial Crisis ,
Financial Services Industry ,
Indemnification ,
Misrepresentation ,
Mortgage Brokers ,
Mortgage Loan Aggregators ,
Mortgage Loan Originators ,
Mortgages ,
Real Estate Transactions ,
Repurchases ,
Statute of Limitations
Ten years after the financial crisis, mortgage companies and regional/local banks are still getting hit with new breach of contract and indemnification claims related to loans sold before the crisis....more
4/30/2018
/ Consumer Financial Products ,
Consumer Lenders ,
Demand Letter ,
Financial Services Industry ,
Indemnification ,
Institutional Investors ,
JPMorgan Chase ,
Mortgages ,
RMBS ,
Securities Fraud ,
Settlement
On November 1, President Trump formally did away with a Consumer Financial Protection Bureau (CFPB) arbitration rule that would have given consumers the opportunity to file class actions against banks and other companies in...more
11/3/2017
/ Arbitration ,
Arbitration Agreements ,
Banking Sector ,
Class Action ,
Class Action Arbitration Waivers ,
Congressional Review Act ,
Consumer Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Dodd-Frank ,
Federal Arbitration Act ,
Financial Services Industry ,
Richard Cordray ,
Trump Administration
With 2016 rapidly drawing to a close, here are some thoughts regarding the types of litigation and legal/regulatory issues that will likely be top-of-mind for financial services companies, especially mortgage companies and...more
12/23/2016
/ Banks ,
Civil Investigation Demand ,
Consumer Financial Protection Bureau (CFPB) ,
Data Breach ,
Data Security ,
Department of Justice (DOJ) ,
Department of Labor (DOL) ,
FDIC ,
Federal Trade Commission (FTC) ,
Fiduciary Rule ,
Financial Services Industry ,
Indemnification Clauses ,
Mortgage Lenders ,
PHH Corp. v CFPB ,
RMBS
After the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 authorized its creation, the Consumer Financial Protection Bureau (CFPB) began operating on July 21, 2011. In the more than five years since it...more
8/23/2016
/ Arbitration ,
Arbitration Agreements ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Financial Institutions ,
Financial Services Industry ,
Mandatory Arbitration Clauses
Virtually ever since its inception on July 21, 2011, the Consumer Financial Protection Bureau (CFPB) has inspired wariness and skepticism in the financial institutions and financial services providers, subject to this new...more
5/6/2016
/ Administrative Law Judge (ALJ) ,
Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Financial Institutions ,
Financial Services Industry ,
Insurance Industry ,
Jurisdiction ,
Kickbacks ,
Mortgage Insurance ,
Mortgage Servicers ,
Mortgages ,
Popular ,
Recess Appointments ,
Reinsurance ,
RESPA