New Precedent that Holds Banks Responsible?
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Last week, the U.S. District Court for the Southern District of New York dealt a major blow to mortgage investors in two parallel actions pending for the past few years. The impact proved to be fatal to one of the actions, which was dismissed in its entirety. The other one was barely left standing. ...
2021 provided some long-awaited new exit ramps off the long and winding road of business vs. business residential mortgage litigation stemming from the 2007–08 financial crisis. Read more to learn about a multitude of recent settlements that have left that road far less congested than at any t...
Millions of homeowners have signed up for a forbearance under the CARES Act, which gives homeowners with a federally-backed mortgage loan the right to obtain a temporary reduction or suspension of mortgage payments by way of a forbearance. During the forbearance period, the financial institution ca...