lender liability: Another Victory for Home Owners Against Foreclosing Lenders!
- 07/23/11 09:31 AM
Chalk another victory up for home owners fighting back against lenders. The Maine Supreme Court overturned a Summary Judgment in favor of a servicing agent against the home owners. In the case of Kondaur Capital Corp. vs Hankins, the trial court had granted summary judgment in favor of the lender agent, but the Maine Supreme Court overturned the ruling.
This is an example though of several things. First, this does NOT mean that the Hankins will still prevail. The matter theoretically still must be heard in court. The Summary Judgment was overturned which means that everyone must start over. Procedurally, … (4 comments)
lender liability: Lender Lawsuits on the RISE!!!
- 03/24/11 09:18 AM
There have been widely publicized reports of variuos lawsuits against lenders and most have valid, legitimate claims. There was Robo signer, MERS, and numerous actions in state in federal courts. The statistics are alarming and I believe that this is only the beginning. During the fourth quarter of 2010 mortgage servicers faced a 42 percent rise in lawsuits over the preceding months. Interestingly, however, these suits were not, for the most part, related to unwinding foreclosures due to robo-signed affidavits, but instead dealt with failures in the loan modification process. Additionally, many mortgage servicers faced lawsuits from investors thanks to problems … (0 comments)
lender liability: Who are Banks Accountable to??
- 02/15/11 05:39 PM
This frequently asked question is becoming a common question asked of me. The answer can be a bit complicated and it partially depends upon whether the bank is state or federally chartered. However there are four ways in which banks are accountable to its customers or regulatory bodies. The little known Office of the Comptroller of the Currency (OCC) charters, regulates, and supervises all national banks. They DO have the power to take action against a bank that does not comply with regulations or that otherwise engages in unsound business practices. The OCC does not regulate all banks. Every state also has … (5 comments)
Author Bio: Paddy Deighan earned his Juris Doctorate and PhD Paddy consults with taxpayers in regard to tax liens, tax levies, tax levy, offer in compromise, tax debt, tax settlement
Chalk another victory up for home owners fighting back against lenders. The Maine Supreme Court overturned a Summary Judgment in favor of a servicing agent against the home owners. In the case of Kondaur Capital Corp. vs Hankins, the trial court had granted summary judgment in favor of the lender agent, but the Maine Supreme Court overturned the ruling.
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