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Lori Wigod v. Wells Fargo | Wells LOSES at 7th Cir. Appellate…Excoriating opinion regarding a HAMP Class Action & a Judicial Request for a Fed. Amicus Curiae

Lori Wigod v. Wells Fargo | Wells LOSES at 7th Cir. Appellate…Excoriating opinion regarding a HAMP Class Action & a Judicial Request for a Fed. Amicus Curiae


H/T DEONTOS

In the
United States Court of Appeals
For the Seventh Circuit
No. 11-1423

LORI WIGOD,
Plaintiff-Appellant,

v.

WELLS FARGO BANK, N.A.,
Defendant-Appellee.

<excerpts>

HAMILTON, Circuit Judge. We are asked in this appeal

to determine whether Lori Wigod has stated claims

under Illinois law against her home mortgage servicer

for refusing to modify her loan pursuant to the federal

Home Affordable Mortgage Program (HAMP).

She brought this putative class action alleging violations

of Illinois law under common-law contract and tort

theories and under the Illinois Consumer Fraud and

Deceptive Business Practices Act (ICFA). The district

court dismissed the complaint in its entirety under

Rule 12(b)(6) of the Federal Rules of Civil Procedure.

This appeal followed, and it presents two sets of issues.

The first set of issues concerns whether Wigod

has stated viable claims under Illinois common law and

the ICFA. We conclude that she has on four counts …

These allegations support garden-variety

claims for breach of contract or promissory estoppel.

She has also plausibly alleged that Wells Fargo com-

mitted fraud under Illinois common law and engaged in

unfair or deceptive business practices in violation of the

ICFA.

The second set of issues concerns whether these

state-law claims are preempted or otherwise barred by

federal law. We hold that they are not.

We accordingly reverse the judgment of

the district court on the contract, promissory estoppel,

fraudulent misrepresentation, and ICFA claims …

IV. Conclusion

The judgment of the district court is therefore

REVERSEDas to Counts I, II, and VII, and the

fraudulent misrepresentation claim of Count V …

RIPPLE, Circuit Judge, concurring. I am very pleased

to join the excellent opinion of the court written by

Judge Hamilton. I write separately only to note that, in

my view, our task of adjudicating this matter would

have been assisted significantly if the United States had

entered this case as an amicus curiae.

In this case, this last consideration justifies the

decision to proceed without further delay. Prompt resolution

of this matter is necessary not only for the good

of the litigants but for the good of the Country.

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NC court weighs if foreclosure needs original docs

NC court weighs if foreclosure needs original docs


This part of the article doesn’t settle well for me:

The hearing in a state traditionally friendly to banks and home to U.S. industry leader Bank of America comes as paperwork problems have gummed up foreclosures nationwide.

Boston Herald-

RALEIGH, N.C. — North Carolina’s Supreme Court heard arguments today in a case that could decide whether mortgage lenders can foreclose on a home without producing original documents that prove they’re owed the money.

The hearing in a state traditionally friendly to banks and home to U.S. industry leader Bank of America comes as paperwork problems have gummed up foreclosures nationwide.

Those problems include missing documents validating a mortgage transaction and unqualified employees “robo-signing” affidavits improperly swearing to the accuracy of overdue mortgage debts. The problem of suspect documents could create legal trouble for homeowners and mortgage lenders for years.

[BOSTON HERALD]

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DOBSON v. WELLS FARGO | AMICUS CURIAE BRIEF IN SUPPORT OF APPELLANT LINDA G. DOBSON

DOBSON v. WELLS FARGO | AMICUS CURIAE BRIEF IN SUPPORT OF APPELLANT LINDA G. DOBSON


SUPREME COURT OF NORTH CAROLINA

LINDA G. DOBSON,

Plaintiff-Appellant,

v.

SUBSTITUTE TRUSTEE SERVICES, 
INC., Substitute Trustee and WELLS
FARGO BANK MINNESOTA, N.A.
as Trustee for Equivantage Home Equity
Loan Trust, 1996-4, Note Holder,
EQUVANTAGE, INC., and AMERICA‘S
SERVICING COMPANY,

Defendants-Appellees.

****************************
PROPOSED BRIEF OF AMICI CURIAE NORTH CAROLINA JUSTICE CENTER, NORTH CAROLINA ADVOCATES FOR JUSTICE, CENTER FOR RESPONSIBLE LENDING, MAINE ATTORNEYS SAVING HOMES, THE FINANCIAL PROTECTION LAW CENTER, AARP, AND THE NATIONAL ASSOCIATION OF CONSUMER ADVOCATES IN SUPPORT OF PLAINTIFF-APPELLANT
*****************************

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Supreme Court to Consider Mortgage-Fees Lawsuit: FREEMAN v. QUICKEN LOANS

Supreme Court to Consider Mortgage-Fees Lawsuit: FREEMAN v. QUICKEN LOANS


Mortgage/ Securitization forensic auditors especially, may want to pay close attention to this case.

 

WSJ-

The U.S. Supreme Court agreed Tuesday to clarify the circumstances in which home buyers can sue mortgage lenders for allegedly charging them unearned fees during the closing process.

The case centers on a group of lawsuits from Louisiana in which borrowers alleged Detroit-based Quicken Loans Inc. charged them loan-discount fees but did not provide reduced interest rates in return.

Quicken Loans said the fees were legal and denied allegations that the fees were unearned.

[WALL STREET JOURNAL]

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OHIO APPEALS COURT GIVE HSBC A BEAT DOWN! “AG CORDRAY AMICUS”, “MERS ISSUE”, “AFFIDAVIT ISSUES”, “UNATTACHED ALLONGE TO NOTE”: HSBC Bank USA v. Thompson

OHIO APPEALS COURT GIVE HSBC A BEAT DOWN! “AG CORDRAY AMICUS”, “MERS ISSUE”, “AFFIDAVIT ISSUES”, “UNATTACHED ALLONGE TO NOTE”: HSBC Bank USA v. Thompson


IN THE COURT OF APPEALS OF OHIO
SECOND APPELLATE DISTRICT
MONTGOMERY COUNTY

HSBC BANK USA, N.A., as Indenture :
Trustee for the Registered Noteholders :
of Renaissance Home Equity Loan :
Trust 2007-1 :
:
v.
:
JAMIE W. THOMPSON, et al.

EXCERPTS:

{¶ 67} In contrast to Watson, no evidence was presented in the case before us to indicate that the allonges were ever attached or affixed to the promissory note. Instead, the allonges have been presented as separate, loose sheets of paper, with no explanation as to how they may have been attached. Compare In re Weisband, (Bkrtcy. D. Ariz., 2010), 427 B.R. 13, 19 (concluding that GMAC was not a “holder” and did not have ability to enforce a note, where GMAC failed to demonstrate that an allonge endorsement to GMAC was affixed to a note. The bankruptcy court noted that the endorsement in question “is on a separate sheet of paper; there was no evidence that it was stapled or otherwise attached to the rest of the Note.”)

{¶ 86} We need not decide which approach is correct, because the alleged assignment of mortgage is attached to Neil’s rejected affidavits. Since the trial court’s disregard of the affidavits was not an abuse of discretion, there is currently no evidence of a mortgage “assignment” to consider. Moreover, we would reject HSBC’s position even if we considered the alleged assignment, because HSBC failed to establish that it was the holder of the note. Therefore, no “equitable assignment” of the mortgage would have arisen. All that HSBC might have established is that the mortgage was assigned to it after the action was filed. However, as we noted, the matters pertaining to that fact were submitted with an
affidavit that the trial court rejected, within its discretion.

Continue below…

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Ohio AG Cordray Files AMICUS CURIAE in Cleveland Foreclosure Case

Ohio AG Cordray Files AMICUS CURIAE in Cleveland Foreclosure Case


Via ForeclosureBlues

Ohio AG Cordray Asks Court to Consider GMAC Fraud in Cleveland Foreclosure Case

“Judges rely upon the accuracy of affidavits to grant judgments and ensure that the integrity of the judicial system can be trusted,” said Attorney General Cordray. “False affidavits throw the entire system into question. Foreclosures should not move forward when the basis of evidence is perjured statements.”

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