Banking and Financial Services
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Banking Alert July 20227/22
In this issue:
- New Jersey Appellate Division Reinstates Borrowers’ Claim to a Fair Market Value Credit
- New Jersey Appellate Division Rules That Debtor’s Chapter Seven Bankruptcy Discharge Does Not Prevent Creditor From Seeking to Foreclose on Real Property
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Banking Alert June 20226/22
In this issue:
- New Jersey Appellate Division Upholds Terms of Settlement Agreement in Foreclosure Action
- New Jersey Federal Court Dismisses Discrimination Claim Against Bank Based on Closure of Plaintiff’s Checking Account
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Banking Alert May 20225/22
In this issue:
- New Jersey Supreme Court Approves Increases to Jurisdiction Limits for Special Civil and Small Claims Matters
- New York Supreme Court Denies Motion Requesting Stay of UCC Foreclosure Sale
- New Jersey Appellate Division Reverses Dismissal of Claims Against Guarantor
- New Jersey Supreme Court Approves Increases to Jurisdiction Limits for Special Civil and Small Claims Matters
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Banking Alert March 20223/22
In this issue:
- New Jersey Appellate Division Overturns Final Judgment of Foreclosure Because of Question Over Possession of Note and Mortgage
- New Jersey Appellate Division Affirms Final Judgment of Foreclosure After Debtor Fails to Substantiate Objections to Proof of Amount Due
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Banking Alert February 20222/22
In This Issue:
- New Jersey Appellate Division Rejects Borrower’s Challenge to Foreclosure on Basis of Purported TILA Violation
- Owner of A Certificate of Deposit Seeking Payment Three Years After Maturity Must Rebut Presumption of Abandonment Under New Jersey Uniform Unclaimed Property Act
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Banking Alert January 20221/22
In This Issue:
- Governor Murphy Signs Law Requiring Notification to Municipalities of Foreclosures on Commercial Properties
- New Jersey Appellate Division Affirms Commercial Foreclosures That Were Based on Cross-Default Provision in Loan Agreements
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Banking Alert December 202112/2021
In This Issue:
- New York Foreclosure Moratorium Set to Expire on January 15, 2022
- New Jersey Appellate Division Affirms Final Judgment in Residential Foreclosure Action
- Discharge of Mortgage Foreclosure Action Did Not Have Preclusive Effect on Related Claims in Law Division Action
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Banking Alert November 202111/2021
In This Issue:
- New Jersey to Resume Evictions for Residential Foreclosures
- Federal Trade Commission Issues Updates to Standards for Safeguarding Customer Information
- Credit Report’s Description of Accounts as “Written Off” Did Not Violate Fair Credit Reporting Act
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Banking Alert October 202110/2021
In This Issue:
- Kings County Supreme Court Cancels “Hardship” Conferences in Foreclosure Actions After Legal Challenge
- Plaintiffs’ Claims Against Bank Based on Fraudulent Transfer From Their Account are Dismissed for Failure to Follow Procedural Requirements
- New Jersey Appellate Division Reverses Grant of Summary Judgment to Lender on Guaranties
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Banking Alert September 20219/2021
In This Issue:
- New York Extends Foreclosure Moratorium and Alters Hardship Declaration Process
- Third Circuit Determines That Court-Appointed Receivers Are Entitled to Quasi-Judicial Immunity
- United States District Court Denies Cross-Motions for Summary Judgment on UCC Conversion Claim
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Banking Alert June 202006/2020
In This Issue:
- New Jersey Supreme Court Rules That The Uniform Fiduciaries Law Does Not Permit An Affirmative Claim Against A Bank
- New Jersey Appellate Division Refuses to Vacate Default in Promissory Note Action Seeking to Enjoin Sale of Property
- New Jersey Appellate Division Declines to Bar Foreclosure Action Based on Entire Controversy Doctrine
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Banking Alert May 202005/2020
In This Issue:
- New Jersey Chancery Court Refuses to Vacate Sheriff’s Sale Based on Borrower’s Incomplete Loss Mitigation Application
- Federal Court Dismisses Action Stemming From Foreclosure Judgment Pursuant to Rooker-Feldman Doctrine
- Appellate Division Declines to Vacate Final Judgment of Foreclosure Against Defaulted Defendant
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Banking Alert April 202004/2020
In This Issue:
- New Jersey and New York COVID-19 Court Updates
- New Jersey Appellate Division Rejects Plaintiff’s Attempt to Relitigate Priority of Bank’s Mortgage
- New Jersey Appellate Division Affirms Ruling That Right to the Reinstatement of Mortgage Ends with the Entry of Final Judgment of Foreclosure
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Banking Alert March 20203/2020
In This Issue:
- New Jersey and New York Both Enact Restrictions on Foreclosures in Response to COVID-19
- New Jersey Appellate Division Enforces “Hell-or-High Water” Provision in Third-Party Financing Agreement
- New Jersey Trial Court Finds Buyer of Foreclosed Property Failed to Comply with Strict Notice Requirements of New Jersey’s Foreclosure Fairness Act
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Banking Alert February 202002/2020
In This Issue:
- New Jersey Chancery Division Holds That Recent Change in New Jersey Law Precludes Lender From Requesting Unlimited Number of Adjournments of Sheriff’s Sale
- New Jersey Appellate Division Rules That Judgment Lien has Priority Over Prior Improperly Recorded Mortgage
- New Jersey Chancery Division Grants Bank’s Motion to Strike Lease as a “Sham”
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Banking Alert January 202001/2020
In This Issue:
- New Jersey Appellate Division Affirms Summary Judgment Order Dismissing Dishonored Check Action and Order Awarding Attorneys’ Fees
- District Court Dismisses Claims Relating to Alleged Fraud in Wells Fargo Foreclosure Methods
- New Jersey Appellate Division Affirms Decision Vacating Final Judgment in Tax Foreclosure Action Against Mortgagee Based on Notice of Lis Pendens
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Banking Alert December 201912/2019
In This Issue:
- New Jersey Appellate Division Affirms Denial of Motion Seeking to Vacate Final Judgment of Foreclosure
- New Jersey Appellate Division Rejects Borrower’s Attempt to Avoid Foreclosure Based on Bankruptcy Order of Discharge
- New Jersey Appellate Division Affirms Foreclosure Judgment Entered Seven Years After Rejecting Borrower’s Loan Modification Argument
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Banking Alert November 201911/2019
In This Issue:
- New Jersey Appellate Division Reverses Dismissal of Complaint Seeking Repayment of Loans as Time-Barred
- Federal Court Dismisses Borrower’s Complaint and Sanctions Borrower’s Counsel
- Appellate Division Rejects Upholds Denial of Motion to Vacate Final Judgment of Foreclosure After Sheriff’s Sale
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Banking Alert October 201910/2019
In This Issue:
- New Jersey Appellate Division Affirms Priority of Bank’s Mortgage Lien Over Marital Possessory Interest
- New Jersey Appellate Division Rejects Challenge to Foreclosure Action Based on Unclean Hands Doctrine
- New Jersey Appellate Division Reverses Grant of Summary Judgment and Final Judgment of Foreclosure Due to Competing Notes Submitted to Court
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Banking Alert September 201909/2019
In This Issue:
- New Jersey Federal Court Dismisses FDCPA and CFA claims Under Rooker-Feldman Doctrine
- New Jersey Appellate Division Affirms Dismissal of Claim for Failure to Pay on a Dishonored Check
- New Jersey Appellate Division Refuses to Vacate Final Judgment of Foreclosure Despite Mistakenly Filed Satisfaction of Mortgage
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Banking Alert August 201908/2019
In This Issue:
- New Jersey Appellate Division Finds Service of NOI Deficient in Foreclosure Action
- New Jersey Appellate Division Affirms Final Judgment of Foreclosure
- New Jersey Appellate Division Finds that Borrower Lacks Standing to Challenge Transfer of Mortgage in Foreclosure Action
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Banking Alert July 201907/2019
In This Issue:
- New Jersey Appellate Division Rejects Homeowner’s Arguments That Assignee Did Not Have Standing to Foreclose
- New Jersey Appellate Division Finds Subsequent Mortgagee That Recorded First is Not Entitled to Priority in Foreclose Action
- New Jersey Appellate Division Affirms Summary Judgment in Favor of Bank in Residential Foreclosure Action
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Banking Alert June 201906/2019
In This Issue:
- New Jersey Federal Court Dismisses UCC and Common Law Claims Against Depository Bank
- New Jersey Appellate Division Refuses to Dismiss Foreclosure Complaint That Did Not Contain Allegations Concerning Assignments of Mortgage
- New Jersey Appellate Division Declines to Set Aside Sheriff’s Sale and Permit Redemption of Foreclosed Property
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Banking Alert May 201905/2019
In This Issue:
- New Jersey Appellate Division Affirms Dismissal of Guarantors' Counterclaims Asserted After the Parties Settled the Matter
- Plaintiff-Borrower Survives Motion to Dismiss FDCPA Claims Against Law Firm That Filed Underlying Foreclosure Action
- New Jersey Passes Into Law a Series of Reforms Directed at Foreclosure Process
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Banking Alert April 201904/2019
In This Issue:
- New Jersey Appellate Division Affirms Denial of Motion to Set Aside Sheriff's Sale Based on Alleged Agreement to Reinstate Mortgage
- New Jersey Appellate Division Reverses Summary Judgment in Favor of Issuer of Allegedly Dishonored Check
- New Jersey Appellate Division Finds Bank Not Required to Disgorge Payments Received From Borrower in Excess of Foreclosure Judgment
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Banking Alert March 201903/2019
In This Issue:
- United States Supreme Court Rules Law Firm Filing Nonjudicial Foreclosure Action Not Subject to FDCPA
- New Jersey Appellate Division Rejects Borrower's Challenge to Mortgage Assignment Agreement in Defense of Foreclosure Action
- New Jersey Appellate Division Finds Bank Has Standing to Foreclose
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Banking Alert February 201902/2019
In This Issue:
- New Jersey Appellate Division Upholds Final Judgment of Foreclosure and Request to Affix Amount Due
- New Jersey Appellate Division Reinstates Borrower's Counterclaims Based on Withdrawn Modification Agreement
- New Jersey Appellate Division Holds Recorded Assignment Sufficient to Establish Standing to Foreclose
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Banking Alert January 201901/2019
In This Issue:
- New Jersey Appellate Division Upholds Striking of Answer in Foreclosure Action
- New York Appellate Division Reinstates Aiding and Abetting Fraud Claim Against Bank Based on Issuance of Written Credit Reference
- New Jersey Trial Court Does Not Award 18% Default Interest to Lender as Damages
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Banking Alert December 201812/2018
In This Issue:
- New Jersey Appellate Division Upholds Dismissal of Borrower's Trespass Counterclaim Against Lender
- New Jersey Appellate Division Reverses Writ of Replevin to Title Owner of Vehicle
- Federal Court Holds That Rooker-Feldman Doctrine Bars Claims Related to Foreclosure Action
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Banking Alert November 201811/2018
In This Issue:
- U.S. District Court Applies Rooker-Feldman Doctrine to Plaintiff's Complaint Attacking Foreclosure Judgment
- New Jersey Appellate Division Affirms Bank's Standing to Foreclose
- New Jersey Appellate Division Upholds Modification of Loan Agreement Made in a Series of Emails
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Banking Alert October 201810/2018
In This Issue:
- New Jersey Appellate Division Affirms Trial Court's Decision to Reform Mortgage to Include Different Property Than Identified In Mortgage
- New Jersey Appellate Division Affirms Trial Court's Determination That Bank Had First Priority Purchase Money Mortgage in Priority Dispute
- New Jersey Appellate Division Holds That Alleged Lack of Standing is Insufficient to Vacate Final Judgment of Foreclosure
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Banking Alert September 201809/2018
In This Issue:
- Third Circuit Affirms Denial of Bank's Motion for Mutual Judgment Satisfaction Under Federal Rule of Civil Procedure 69
- District Court Grants Loan Servicer's Motion to Dismiss Claims
- New Jersey Appellate Division Affirms Denial of Motion to Stay Sheriff Sale
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Banking Alert August 201808/2018
In This Issue:
- New Jersey Trial Court Applies Doctrine of Equitable Subrogation to Mortgage Priority Dispute
- New Jersey Supreme Court Adopts Daubert Factors
- New Jersey Appellate Division Affirms Entry of Summary Judgment and Final Judgment of Foreclosure
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Banking Alert July 201807/2018
In This Issue:
- New Jersey Appellate Division Finds Predatory Lending Allegations Sufficient to Sustain Consumer Fraud Act Counterclaim
- New Jersey Appellate Division Affirms Reinstatement of Foreclosure Action Based on no Lack of Prejudice to Borrower
- New Jersey Appellate Division Affirms Foreclosure Judgment and Rejects Defendant's HOSA Counterclaim
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Banking Alert June 201806/2018
In This Issue:
- New Jersey Federal Court Denies Motion for Appointment of Receiver
- New Jersey Appellate Division Upholds Final Judgment of Foreclosure Where Mortgage and Note Were Originally Held by Two Different Entities
- Update: CFPB Dismisses Case against PHH; U.S. District Court Holds CFPB Structure is Unconstitutional
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Banking Alert May 201805/2018
In This Issue:
- New Jersey Appellate Division Affirms Dismissal of Claim Against Bank for Honoring Prison's Endorsement of Plaintiff-Prisoner's Check
- New Jersey Appellate Division Upholds Final Judgment of Foreclosure Despite Challenges to Service of Process
- New Jersey Appellate Division Finds That Contesting Answer Was Properly Stricken And Foreclosure Action Was Timely Filed
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Banking Alert April 201804/2018
In This Issue:
- New Jersey Appellate Division Finds Bank Had Standing and Timely Filed Foreclosure Action
- New Jersey Appellate Division Reverses Trial Court's Decision That Notice of Intent to Foreclose Need Not be Served on Debtor's Estate in Case of Reverse Mortgage
- "Law of the Case" Doctrine Preserves Foreclosure Ruling in Favor of Bank
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Banking Alert March 201803/2018
In This Issue:
- New Jersey Appellate Division Upholds Priority of Mortgage and Loan Modifications Over Discharged Lis Pendens
- New Jersey Appellate Division Affirms Grant of Summary Judgment and Award of Fees on "Frivolous" Consumer Fraud Action Claim
- Federal District Court Dismisses Seeking to Prevent Sheriff's Sale
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Banking Alert February 201802/2018
In This Issue:
- D.C. Circuit Court of Appeals, En Banc, Holds That CFPB Structure is Constitutional
- New Jersey Appellate Division Finds Plaintiff is Not Holder in Due Course of Dishonored Check
- New Jersey Appellate Division Affirms Final Judgment of Foreclosure
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Banking Alert January 201801/2018
In This Issue:
- New Jersey Appellate Division Upholds Judgment Against Self-Represented Guarantor
- New Jersey Appellate Division Enforces Arbitration Clause Contained in Online Agreement
- New Jersey Appellate Division Reverses Trial Court’s Turnover of Funds in Joint Account
- Sherman Atlas Announces New York Office Move
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Banking Alert December 201712/2017
In This Issue:
- Federal Court Rejects Defendant’s Attempt to Avoid Class Action Under TCPA
- New Jersey Appellate Division Affirms Trial Court’s Finding That Bank Had Standing to Foreclose
- New Jersey Appellate Division Affirms Summary Judgment to Foreclosing Bank and Subrogates Mortgage of Other Lender
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Banking Alert November 201711/2017
In This Issue:
- New Jersey Appellate Division Determines Foreclosing Bank is not a “Mortgagee in Possession” of Condominium Unit
- New Jersey Appellate Division Remands Trial Court’s Denial of Motion to Intervene Filed by Alleged Assignee of Mortgage in Foreclosure Action
- New Jersey Appellate Division Holds That Bank Can Foreclose After Several Assignments of Mortgage Loan
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Banking Alert October 201710/2017
In This Issue:
- New Jersey Appellate Division Reverses Trial Court’s Dismissal of Bank’s Claim of Holder in Due Course Status
- New Jersey Appellate Division Clarifies Scope of Home Ownership Security Act
- U.S. District Court Dismisses Action Based on Alleged Violation of HAMP
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Banking Alert September 201709/2017
In This Issue:
- New Jersey Supreme Court Upholds Enforcement of Settlement Reached in Residential Mortgage Foreclosure Program
- Assignment by Nominee Upheld as Valid by Appellate Division in Foreclosure Action
- Trial Court Dismisses Complaint Arising From Lender’s Refusal to Modify Loan
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Banking Alert July 201707/2017
In This Issue:
- Chancery Division Denies Request for Custodial Receiver in Residential Foreclosure
- Third Circuit Finds Single Phone Call Sufficient to Trigger Claim Under Telephone Consumer Protection Act
- Mortgagee Who is Non-Signatory of a Note is not Required to Receive Notice of Intent to Foreclose
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Banking Alert June 201706/2017
In This Issue:
- New Jersey Appellate Division Splits Deposit From Sheriff’s Sale Between Parties After Buyer Alleges Bank Failed to Disclose Prior Mortgage
- New Jersey Trial Court Finds That Borrower Did Not Execute an Enforceable Loan Modification
- New Jersey Appellate Division Finds FDCPA’s Venue Provision Irrelevant in Personal Jurisdiction Dispute
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Banking Alert May 201705/2017
In This Issue:
- New Jersey Supreme Court Holds Notice of Rejection in Real Estate Contract Via Email and Fax is a Commonly-Used Form of Communication and Valid
- United States Supreme Court Permits Municipalities to File Suit Against Lender Under FHA
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Banking Alert April 201704/2017
In This Issue:
- Appellate Division Rejects Standing Argument in Foreclosure Action
- Appellate Division Upholds Settlement Agreement Arising from Dishonored Check
- Appeal on Denial of Rent Receiver Deemed Moot by Foreclosure Judgment
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Banking Alert February 201702/2017
In This Issue:
- Appellate Division Affirms Denial of Contempt Motion
- Federal Court Dismisses Challenge To Foreclosure Judgment
- Appellate Division Upholds Sale Of Property By Receiver
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Banking Alert January 201701/2017
In This Issue:
- Third Circuit Upholds Dismissal of CFA and RICO Action Against Loan Servicer
- Appellate Division Rejects Challenge to Lender’s Standing in Foreclosure Action
- District Court Affirms Ruling That Statute of Limitations in Foreclosure Action Was Not Shortened by Acceleration Notice
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Banking Alert December 201612/2016
In This Issue:
- U.S. Supreme Court Holds Defendant Criminally Liable Under Bank Fraud Statute for Stealing Customer’s Funds
- Appellate Division Affirms Discharge of Receiver After Settlement of Foreclosure Action
- Omnibus New York Foreclosure Law Takes Effect December 20, 2016
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Banking Alert November 201611/2016
In This Issue:
- Third Circuit Affirms Dismissal of Wrongful Foreclosure Complaint
- Federal Court Dismisses Amended Complaint Filed by Pro Se Plaintiffs Against Mortgage Lenders and Servicers
- Appellate Division Affirms Denial of Motion to Vacate Default in Foreclosure Action
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Banking Alert October 201610/2016
In This Issue:
- New Jersey Appellate Division Overturns Grant of Summary Judgment in Foreclosure Action
- Federal Court Denies Motion to Dismiss Claims Based on TPP With Plaintiff
- Third Circuit Finds That Twenty-Year Statute of Limitations Applies to Foreclosure Action
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Banking Alert September 201609/2016
In This Issue:
- Federal Court Strikes Bank’s Affirmative Defenses in Identity Theft Case
- Federal Court Denies Plaintiff’s Motion to Remand in Action Alleging Contract and Fraud Claims Against Banks
- Plaintiffs’ Amended Class Action Claims Regarding International Exchange Rates Are Dismissed With Prejudice
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Banking Alert August 201608/2016
In This Issue:
- New York Legislature Passes Significant Changes to Foreclosure Settlement Conference Law
- U.S. Treasury Enacts New Reporting Requirements for Residential Real Estate Transactions in New York and Florida
- Federal Court Rejects Borrower’s Attempt to Undo State Court Foreclosure Judgment
- New Jersey Superior Court Denies Class Certification on TCCWNA and CFA Claims and Compels Arbitration
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Banking Alert July 201607/2016
In This Issue:
- In Stinging Rebuke to Financial Institutions and Title Companies, NJ Supreme Court Favors Law Firm’s Effort to Collect Unpaid Legal Bills
- New Jersey Trial Court Finds Foreclosure Action Barred by Six-Year Statute of Limitations
- New Jersey District Court Denies Motion to Dismiss Complaint Against Bank Alleging Violations of RESPA and State Law Tort Claims
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Banking Alert June 201606/2016
In This Issue:
- Appellate Division Dismissed NJLAD Class Action Complaint Against Bank
- District Court Finds Thirty-Day Reporting Requirement in Customer Account Agreement to be Reasonable
- Appellate Division Affirms Trial Court’s Order Denying Third-Party’s Motion to Intervene in Foreclosure Action
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Banking Alert May 201605/2016
In This Issue:
- District Court Vacates Entry of Default Against Lender in Action Seeking Rescission of Note
- District Court Dismisses Pro Se Complaint Against Bank Asserting Claims Under RESPA
- New Jersey Chancery Division Finds Party Need Only Use A Reasonable Means Of Communication To Inform Parties Of Sheriff’s Sale Adjournment
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Banking Alert April 201604/2016
In This Issue:
- District Court Dismisses All Claims Against Bank Arising Out of Dispute Over Joint Account
- District Court Declines To Dismiss Claim Under FDCPA Based On Foreclosure Proceeding
- New York Court Finds Bank Did Not Act In Bad Faith At Mandatory Residential Foreclosure Settlement Conference
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Banking Alert March 201603/2016
In This Issue:
- Divided United States Supreme Court Affirms Eighth Circuit Decision on Definition of “Applicant” Under ECOA
- New York Supreme Court Finds Party Did Not Perfect Its Security Interest in Creditor’s Bank Account
- Bankruptcy Appellate Panel Finds Release In Forbearance Agreement Provide Bank With Complete Defense
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Banking Alert February 201602/2016
In This Issue:
- New York Court Dismisses Claims Arising From Unauthorized Electronic Transfers
- District Court Dismisses Pro Se Complaint Based on Colorado River Abstention Doctrine
- Appellate Division Finds Mandatory Arbitration Provision in Employee Handbook Unenforceable
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Banking Alert January 201601/2016
In This Issue:
- District Court Dismisses Borrower’s Consumer Fraud and Fair Debt Collection Practices Act Claims
- Court Finds Conclusory Allegations of Fraud Relating to Loan Modification Insufficient to Defeat Summary Judgment in Foreclosure Action
- State Securities Regulators Propose Mandatory Reporting Requirement of Elder Fraud for Financial Advisers’
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Banking Alert December 201512/2015
In This Issue:
- Appellate Division Upholds Dismissal of Claim of Unauthorized Transactions Based on Deposit Agreement
- Appellate Division Dismisses Consumer Fraud Claim in Contested Foreclosure Action
- District Court Declines to Hear Foreclosure Dispute
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Banking Alert November 201511/2015
In This Issue:
- District Court Dismisses Action For Conversion And Quiet Title Brought In Response To Lender’s Notice Of Intent To Foreclose
- New Jersey Appellate Division Denies Homeowners’ Application To Set Aside Foreclosure Sale Based On Defective Service
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Banking Alert October 201510/2015
In This Issue:
- District Court Finds Foreclosing Bank And Its Attorneys Are Not “Debt Collectors” Under FDCPA
- New Jersey Appellate Division Affirms Denial Of Motion To Vacate Final Judgment Of Foreclosure And Stay Of Sheriff’s Sale
- Appellate Division Finds Bank May Foreclose Even If Allonge To Note Is Not Affixed
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Banking Alert September 201509/2015
In This Issue:
- District Court Denies Debt Collector’s Motion To Dismiss Fair Debt Collection Practices Act Class Action
- New Jersey Appellate Division Holds That Valid Lien Exists On Property Despite Forgeries On Mortgage Documents
- Reminder To Financial Institutions Of Guidelines For Garnishment Of Accounts Receiving Federal Benefit Payments
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Banking Alert August 201508/2015
In This Issue:
- Anthony Sylvester Again Named Banking and Finance Litigation “Lawyer Of The Year”
- New Jersey Appellate Division Holds That Pennsylvania Bank Did Not Violate New Jersey Banking Act When Closing Loan Transaction In New Jersey
- New York Comptroller Reports That Number Of Foreclosure Cases Remains High
- New Jersey Federal Court Dismisses Complaint Seeking To Block Foreclosure Action
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Banking Alert July 201507/2015
In This Issue:
- Sherman Atlas Featured In Article In NJBiz Magainze
- New Jersey State Court Holds That Bank Is Not Required To Report Suspected Elder Abuse
- District Court Dismisses Wrongful Foreclosure Action As Premature And Confirms That Mortgagor May Not Challenge Assignment Of Mortgage
- Appellate Division Finds That Inordinate Delay In Arranging Sheriff’s Sale Could Subject Foreclosing Bank To Liability For Unpaid Condominium Fees
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Banking Alert June 201506/2015
In This Issue:
- United States Supreme Court Upholds Validity of Undersecured Second Mortgages in Chapter 7 Bankruptcy Filings
- Change in New Jersey Uniform Commercial Code Financing Statement Requirements
- Appellate Division Affirms That Implied Covenant Of Good Faith And Fair Dealing Cannot Alter Terms Of Commercial Loan Agreement
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Banking Alert May 201505/2015
In This Issue:
- Mortgagors Cannot Collaterally Challenge Validity Of An Assignment Of Mortgage Outside Of Foreclosure Proceeding
- New Jersey Appellate Division Finds Foreclosing Bank Not Liable In Premises Liability Action For Personal Injury
- Plaxico Burress Indicted Under Recently Amended Bad Check Criminal Statute For Failed Electronic Funds Transfer
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Banking Alert April 201504/2015
In This Issue:
- Payees On Check May Not Assert Presentment Warranties Against Depository Bank That Negotiates Check With Forged Endorsement
- Lending Industry Prepares As Biggest Regulatory Change To Home Mortgage Disclosures In Twenty Years Set To Go Into Effect
- Appellate Division Vacates Foreclosure Judgment Due To Bank’s Failure To Comply With Fair Foreclosure Act
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Banking Alert March 201503/2015
In This Issue:
- District Court Upholds Enforceability of Limited Recourse Guaranty
- Court Dismisses Attempt By Mortgagor To Attack Assignment Of Mortgage Based On Allegations of “Robo-Signing”
- District Court Dismisses Claims Alleging Violation of Fair Credit Reporting Act
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Banking Alert February 201502/2015
In This Issue:
- Banks Not Precluded From Asserting Individual Arbitration Clauses Against Unnamed Class Members
- Trial Period Plan Agreement Pursuant to Home Affordable Mortgage Program Is Not Binding Contract To Modify Loan
- District Court Finds That Bank Has Duty To Prospective Buyers To Prevent Injury In Foreclosed Home
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Banking Alert January 201501/2015
In This Issue:
- Borrower Can Maintain Breach Of Contract Claim Against Mortgage Servicer Based on Alleged Oral Representations Made During Loan Workout Negotiations
- United States Supreme Court Holds Right of Rescission Under TILA Properly Exercised by Written Notice to Lender
- New Jersey Supreme Court Prohibits Trial Court From Having Ex Parte Post-Trial Conversations With Jury
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Banking Alert December 201412/2014
In This Issue:
- Foreclosure Debtors Lack Standing To Challenge Violation of Pooling and Servicing Agreements
- New Jersey Appellate Division Dismisses Consumer Fraud Act Claim As Outside the Scope of the Consumer Fraud Act Statute
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Banking Alert November 201411/2014
In This Issue:
- New Jersey Will Introduce An Expanded Complex Business Litigation Program Statewide Beginning January 1, 2015
- New Jersey District Court Abstains From Hearing Foreclosure Dispute Under Colorado River Abstention Doctrine
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Banking Alert October 201410/2014
In This Issue:
- New Jersey Supreme Court Bars Non-Customer From Bringing Negligence Claim Against Bank
- Arbitration Provisions In Consumer Contracts Must Contain Clear And Unambiguous Language That Consumer Is Waiving Right To Seek Relief In Court
- New Law Affects A Bank’s Obligations in New Jersey To Maintain Vacant Properties In Residential Foreclosures
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Banking Alert September 201409/2014
In This Issue:
- Bank and Customer May Agree to Shorten UCC Section 4-406(4) One-Year Statutory Period By Agreement
- Condemning Authority Has No Duty to Negotiate With Mortgage Holders