Attorney Roy Diaz discusses a recent Florida Court decision where an affidavit was insufficient in creating a genuine issue, and entered a foreclosure judgment in favor of Bank of New York Mellon against two borrowers.
Read More »Megabank CEOs Meet With Congress
CEOs of eight of the largest U.S. banks, including Bank of America, CitiGroup, and more, appeared before the House Financial Services Committee to discuss how policies and procedures have changed since the financial crisis.
Read More »Florida Foreclosure Ruling Impacts Recoup of Legal Fees
Sometimes when you win, you also lose. That’s the reality that may face some foreclosure defendants in the aftermath of a new ruling by a Florida state appellate court, which throws a wrench into a common foreclosure defense strategy. As ...
Read More »BNY Mellon Sees Jump in Earnings for Q3
With new leadership and new earnings in the third quarter, Bank of New York Mellon Corp. reports a net income of $983 million.
Read More »Opened and Closed . . . And Opened Again
A handful of banks may find old cases revived in the near future, after a recent U.S. District court ruling. Will the FDIC take action?
Read More »Despite Hurdles, Profits Jump for BNY Mellon and BankUnited
Both banks faced their own challenges in 2015, which included an RMBS lawsuit for BNY Mellon and a "lack of scale" for BankUnited, but they still saw substantial gains in earnings.
Read More »BNY Mellon Posts Positive Financial Results in Q3 Despite RMBS Litigation Difficulties
The increase in net income during Q3 made it a positive quarter for the bank despite a lawsuit filed by the FDIC in August accusing the bank of breaching its duties as a bond trustee for $2 billion in residential mortgage-backed securities and despite having their own lawsuit against JPMorgan Chase over toxic RMBS dismissed.
Read More »New York Appeals Court Approves Bank of America’s $8.5 Billion RMBS Settlement
Thursday's ruling by the appeals court reversed a decision made by a New York State Supreme Court judge in January 2014 that Bank of America did not have to repurchase the faulty loans because the trustee, Bank of New York-Mellon, did not evaluate them properly.
Read More »Florida Supreme Court Sides with Bank in Foreclosure Fraud Case
After much speculation and anticipation, the Florida Supreme Court gave its answer to a highly-contested question that asks whether a bank could voluntarily dismiss a foreclosure case without consequence if fraudulent foreclosure documents were found and then refile the case at a later time. In the opinion released Thursday for Roman Pino v. the Bank of New York Mellon, the court sided with BKNY Mellon, emphasizing there was no adverse impact on the homeowner as a result of the bank’s voluntary dismissal of the foreclosure case.
Read More »New York AG Granted Right to Intervene in BofA Settlement
A New York judge granted Attorney General Eric T. Schneiderman the right to intervene in litigation over Bank of America's proposed $8.5 billion settlement with mortgage-bond investors, according to a Wednesday statement from the Office of the Attorney General.
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