Search for: "Countrywide Home Loans"
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10 Mar, 2008 10:57 pm
... society as a whole? CNNMoney, as well as other new sources, is reporting that the FBI is investigating whether Countrywide Home Loans used fraudulent lending practices and financial reporting to write all of those subprime loans, ... by predatory lending, then really nobody is safe. The government starts its forensics only once the harm is done. Countrywide is in serious financial trouble. It is in the process of being acquired by Bank of America. The foreclosures are already taking place. The CEO ...
19 Jul, 2006 1:41 pm
Suffern v. Countrywide Home Loans, Inc., United States
District Court for the Eastern District of Louisiana; Case No. 2:06-cv-00358-ILRL-JCW. ... was allegedly too slow scheduling inspections of repairs to hurricane damaged homes and
too slow funding the repairs from the insurance money received. Judge Lemelle held the LUTPA ( ... Unfair Trade Practices and Consumer Protection Law) does not apply to Countrywide (as it is regulated by OFI) and the LUTPA cannot support a class action. The judge also held ...
26 Sep, 2007 10:59 am
I heard from another Bankruptcy Attorney today that Countrywide Home Loans has opened a phone line, 1-800-262-4218, to help people prevent foreclosure. I believe this program is in direct response to President Bush's statements
of several weeks ago. As you may recall, President Bush requested that mortgage companies begin to work with people who are [...]
8 Jul 2:01 pm
Don't assume you get to move for class certification on your own schedule. Smart defendants can move to deny class certification even before you move to certify. Litigation -- like many
other games -- is often about strategy. Use it wisely.
8 Oct 1:02 pm
Nothing really special today. One published opinion from the Ninth, and one published opinion from the California Court of Appeal. Neither of which I'd recommend. So I'll just make a
practical (and hopefully helpful) suggestion from an opinion published a little bit ago. Don't assume you get to move for class certification on your own schedule. Smart defendants can
move to deny class certification even before you move to certify. Just a reminder that litigation -- like many other games -- is ...
12 Nov, 2008 2:37 am
... , Citigroup (here) and Fannie Mae and Freddie Mac (here) announced plans to modify existing home loans in an attempt to help borrowers avoid further foreclosures. These mortgage relief efforts unquestionably are constructive, ... constituencies that will
bring their grievances to the courts. Including, perhaps, the investors that purchased securities backed by the Countrywide mortgages. More
ERISA Lawsuits: It may be argued that the aggrieved constituencies include, at least in some instances, the ...
28 Nov, 2007 8:37 pm
... of the Federal Home Loan Bank system, he'd have understood that the Federal Home
Loan Bank of Atlanta's advances are substantially overcollateralized. As Countrywide's head of investor relations wryly observed
yesterday, "[t]he FHLB has ... some substantial part with the people or institutions who will take the loss and whose consent is legally required before loans are modified. I suppose I ought to be surprised that federal bureaucrats either don't understand how the residential mortgage markets ...
1 Oct, 2007 8:42 pm
... Bank offices typically are small kiosks within Countrywide home-loan offices, often
located in strip malls. To hold down costs, these offices don't ... point is important. Unlike in prior periods of high defaults, today, because of securitization of loans and the lack of discipline enforced upon servicers by investors, the servicers are getting away ... based in India. Oh, boy! I can't wait to call the
workout section at Countrywide and hear, "Hello! My name is Mujibar. May I pease to be hopping you ...
2 Oct, 2007 8:33 pm
... Bank offices typically are small kiosks within Countrywide home-loan offices, often
located in strip malls. To hold down costs, these offices don't ... point is important. Unlike in prior periods of high defaults, today, because of securitization of loans and the lack of discipline enforced upon servicers by investors, the servicers are getting away ... based in India. Oh, boy! I can't wait to call the
workout section at Countrywide and hear, "Hello! My name is Mujibar. May I pease to be hopping you ...
27 Jul 4:40 am
... Ninth Circuit Holds Plaintiffs filed a putative class action against Countrywide Home
Loans alleging labor law violations; the class action complaint alleged that defendant ... other wages lawfully due non-exempt employees.
Vinole v. Countrywide Home Loans, Inc., 571 F.3d 935 (9th
Cir. 2009) [Slip ... impression in the Ninth Circuit, the Court explained that "no rule or decisional authority prohibited Countrywide from
filing its motion to deny certification before Plaintiffs filed their motion to certify ...
4 Apr, 2008 7:18 am
... of the Bankruptcy Court for the Western District of Pennsylvania entered this Opinion and Order in the case of In re Countrywide
Home Loans, Inc., Misc. No. 07-00204 TPA. In this case, the U.S. Trustee sought, via a Rule 2004 ...
pursuant to Fed.R.Bankr.P. 2004(c) and 9016, indicates that the UST seeks to examine the "corporate representative" of Countrywide regarding
"its bankruptcy procedures as they relate to the Debtors' financial affairs, the administration of their estate, and the impact of ...
24 Aug, 2008 11:53 pm
... Indiana Attorney General Steve Carter has filed a lawsuit against the country's largest mortgage lender, Countrywide Home Loans, Inc., and its parent company ... pattern of misleading and questionable practices has emerged from our
investigation into home loans," said Carter. "These unfair lending practices may have harmed ...
revealed that homeowners were misled when they were told one thing about their loans while signing contracts that indicated other terms. The
most common misrepresentations uncovered ...
24 Mar, 2008 5:18 am
... Holds Plaintiffs filed a class action lawsuit against Countrywide Home Loans and Landsafe Credit (each subsidiaries of Countrywide Financial) alleging violations of the federal Real
Estate ... , but absorbed the fee if the loan did not go through. Krupa v. Landsafe, Inc., 514 F.3d 1153, 1154-55 (11th Cir. ... , id., at 1157. In rejecting this argument, the
district court found that "(1) all of the money Countrywide charged from the credit reports was paid over to Landsafe; and (2) the increase in
price ...
19 Dec, 2008 1:03 am
... of plaintiffs. In the latest class actions, lenders are being sued by their investors. People who bought stock in Countrywide
Home Loans and New Century Mortgage have brought class action lawsuits against the lenders for their
reckless ... Judges who oversee these cases have recently denied the lender's motions to dismiss the actions. Cited in the ruling in the Countrywide case, the plaintiffs have made a preliminary showing that the lender recklessly changed its lending procedures with a goal to ...
1 Jun, 2008 5:55 am
... Office of the United States Trustee. See Walton, United States Trustee v. Countrywide Home
Loans, Inc., Adv No. 08-6092, filed in the Chapter 13 case of In re Atchley, Ch. 13 Case No. 05-79232. The lawsuit and underlying facts were
subsequently ... compensation to the debtors or the debtors' estate. (Compl. at 16). Additionally, Plaintiff has not alleged that Countrywide
is currently violating an order of the Court or any part of the Bankruptcy Code; thus, Plaintiff has not alleged ...
2 Nov 3:51 am
... channeled into an unlawful 'captive reinsurance arrangement' - essentially, a kickback scheme - operated by their mortgage lender, Countrywide Home Loans… and its affiliated reinsurer, Balboa
Reinsurance…in violation of RESPA section 8(a) and section 8(b ... at 3, 7-8. Plaintiffs appealed, and the Third Circuit reversed. The class action was premised on the theory that
Countrywide steered homebuyers who needed PMI insurance to companies that would "reinsure" the PMI policies with Balboa pursuant to a ...
29 Feb, 2008 4:05 am
... 13 case pending in the Northern District. See Walton, United States Trustee v. Countrywide Home
Loans, Inc., Adv No. 08-6092, filed in the Chapter 13 case of In re Atchley, Ch. 13 Case No. 05-79232. The Complaint seeks injunctive relief
and ... or prosecuting motions seeking relief from the automatic stay to foreclose on consumer mortgages. 43. In this case, Countrywide failed
to ensure the accuracy of two motions for relief from the automatic stay that contained allegations that ...
24 Oct, 2008 12:52 pm
... they could not afford." In re Countrywide Financial Corp. Mortgage Marketing & Sales Practices Litig., ___ F.Supp.2d ___ (Jud.Pan. ...
Judicial Panel. Id., at 1 n.2 Defense attorneys for Countrywide Bank, Countrywide Home Loans, and Bank of America filed a motion with the Judicial Panel for Multidistrict ... California, because
"(1) two of the seven actions in this docket are pending in this district, (2) Countrywide's principal place of business is in California, and
parties, witnesses and documents ...
20 Mar 9:56 am
In a lawsuit filed this week, Countrywide Home Loans Inc.
complained that its insurer American International Group Inc. didn't cover more than $43 million in losses from failed real estate loans, many
of which were bundled and sold as securities -- even though Countrywide paid more ... the loans. Kurt
Eggert, a Chapman Law School professor who has closely monitored the lending crisis, said, "Here Countrywide displays a huge amount of chutzpah
because it's suing because its loans went ...
22 Aug, 2008 12:21 pm
... in California, Illinois and Massachusetts - were filed against various defendants, including Countrywide Financial Corp., Countrywide Home Loans and Countrywide Bank, FSB (collectively "Countrywide"); the class action complaints, each purportedly seeking to
represent a nationwide class, alleged that Countrywide "engaged in discriminatory residential lending practices, including the imposition of
discretionary fees/charges, which increased the cost of ...
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