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Massachusetts Supreme Court Analyzes Activities of National Title Vendor as Possible Unauthorized Practice of Law
On April 25, the Supreme Court of Massachusetts decided Real Estate Bar Association for Massachusetts v. National Real Estate Information Services , 459 Mass. 512 (Mass. 2011), which addressed claims of unauthorized practice of law in Massachusetts real estate conveyancing. The court concluded that...
InfoBytesMassachusetts Federal Court Denies Servicer Motion to Dismiss UDAP Claim for HAMP Violation
On April 4, a Massachusetts federal court denied a mortgage servicer’s motion to dismiss a complaint that the servicer’s failure to timely comply with a request for modification under the federal Home Affordable Modification Program (HAMP) gave rise to a violation under Massachusetts’ unfair and...
InfoBytesKentucky Adds Exemption to Mortgage Loan Originator Licensing Law
On March 16, Kentucky Governor Steve Beshear signed into law H.B. 470 , a bill which amends the Kentucky Mortgage Licensing and Regulation Act to exempt from the state’s mortgage loan originator licensing requirement a person (i) who originates a dwelling-secured mortgage loan, (ii) who is exempted...
InfoBytesVirginia Passes Law Regarding Electronic Signatures
On March 15, the Virginia Assembly enacted legislation expanding the acceptance of electronic signatures. The new law provides that financial disclosure forms, lobbyist registration statements, and notary applications for recommission may be signed by electronic signature.
InfoBytesNinth Circuit Upholds FDCPA Ruling Against Debt Collection Law Firm
On March 4, the U.S. Court of Appeals for the Ninth Circuit affirmed a debtor’s judgment against a debt collector under the federal Fair Debt Collection Practices Act (FDCPA), the Montana Unfair Trade Practices and Consumer Protection Act and state tort claims of malicious prosecution and abuse of...
InfoBytesCitiMortgage Reaches Settlement Agreement in Lender-Placed Insurance Class Action
A settlement was reached in a class action suit against CitiMortgage, Inc. in the Superior Court for the State of California, County of Los Angeles. In Rounds v. CitiMortgage, Inc. , No. BC386656 (Cal. Super. Ct., Feb. 24, 2011) plaintiff alleged, among other things, that CitiMortgage allowed the...
InfoBytesCourt Rules Lender, Acting as Mortgage Broker, Breached Fiduciary Duty to Borrower
On February 24, a California court of appeals affirmed a trial court’s decision to award damages against a mortgage lender for breach of fiduciary duty and misrepresentation, where the loan officer for the lender acted as a mortgage broker. Smith v. Home Loan Funding, Inc. , 2d Civ. No. B219372 (...
InfoBytesCalifornia Supreme Court Prohibits Businesses from Requesting and Recording Cardholder’s Zip Code
On February 10, the Supreme Court of California reversed a Court of Appeal decision that a ZIP code does not constitute personal identification information under The Song-Beverly Credit Card Act of 1971 (Credit Card Act), instead finding that a ZIP code is part of a person’s address, which does...
InfoBytesBankruptcy Court States - But Does Not Hold - That MERS Lacks Authority to Assign Mortgages
On February 10, a judge in the United States Bankruptcy Court for the Eastern District of New York concluded , in dicta, that the Mortgage Electronic Registration System (MERS) lacks authority under New York law to assign interests in mortgages among its members. In re Agard , No. 810-77338 (Bankr...
InfoBytesOregon Bankruptcy Court Allows MERS Wrongful Foreclosure Claim To Proceed
On February 7, the U.S. Bankruptcy Court for the District of Oregon allowed a wrongful foreclosure claim to proceed based in part on plaintiff’s allegation that not every transfer of the loan was recorded in the land records. McCoy v. BNC Mortgage, Inc. et al. , No. 10-06224 (Bankr. D. Or. Feb. 7,...
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