ABA Journal

Banking Law

1278 ABA Journal Banking Law articles.

Home-Buying ‘Dream’ a Nightmare, Suit Claims

A federal judge is permitting a lawsuit to go forward that claims lawyers, lenders and real estate professionals duped inexperienced home buyers into overpaying for substandard homes in New York.

Mortgage Mess Spurs Suits

Attorneys likely won’t have any trouble finding defendants to sue over the meltdown in the mortgage markets.

Suits have already been filed by investors in bankrupt mortgage companies and mortgage-backed…

Mortgage Counseling Hits Roadblocks

Illinois is addressing rising foreclosure rates with a new law requiring some buyers to get counseling about predatory loan terms. But good intentions didn’t stop lawsuits challenging an earlier, pilot…

Relief for Lawyers in $20 M Lender Bounced-Checks Case

There is relief in sight for lawyers in Georgia and elsewhere who covered perhaps $20 million in bounced checks issued by a mortgage lender.

After hearing from Edwin R. Neel,…

Bank to Repay $4.5 M in Credit Card Fees

A South Dakota bank has agreed to pay $4.5 million to settle a claim by the New York attorney general that it charged credit-challenged customers excessive fees.

The money will…

Lender’s Bounced Checks Create Lawyer Havoc

A mortgage company that went belly-up has left Atlanta-area lawyers digging into their own pockets to cover escrow losses.

HomeBanc Mortgage Corp. may have issued as much as $20 million…

Cost of Biggest Data Breach: $256 Million

It will cost at least $256 million to correct a massive data breach involving the theft of computerized information about 45 million credit and debit cards.

Reportedly the biggest such…

Experts Warn: Subprime ‘Train Wreck’ Coming

Lots of folks are complaining these days about the evils of subprime loans and their connection to the record wave of mortgage foreclosures sweeping the nation.

Now, with humongous jumps…

Ruling Speeds NJ Foreclosures

A federal appeals court has cleared up a dispute in New Jersey over how long homeowners have to cure a mortgage default.

The 3rd U.S. Circuit Court of Appeals

‘Dirty’ Money Enforcement Blitz in FL

So-called dirty money is big business in Florida. And that means the state is a magnet for enforcement of federal laws banning banks from participating in money-laundering and similar schemes.

Another Subprime Practice Group

The meltdown of the subprime mortgage market has enticed another law firm to create a practice group devoted to the resulting legal issues.

Patterson Belknap Webb & Tyler decided to…

Bank-Buying Strategy Backfires

A former Wall Street analyst who happened upon a strategy to make money from banks’ initial public offerings has been sentenced to two years in prison for using other people…

Foreclosure Challenge Loses

A federal judge has dismissed a lawsuit against a company created to electronically record every mortgage loan in the United States.

Judge Timothy Corrigan of Jacksonville, Fla., ruled that Mortgage…

Mortgage Foreclosures Rise 58 Percent

Mortgage foreclosures nationwide were up by 58 percent during the first half of 2007, compared to the first half of 2006.

That translates to a total of 573,397 homes at…

Mortgage Bias Investigated

The U.S. Justice Department is investigating whether several mortgage lenders charged minorities higher rates than whites.

Grace Chung Becker, a deputy assistant attorney general, told a House Financial Services subcommittee…

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