MERS

BAC Settles MERS Lawsuit With Bond Holders

MBS Bond Holders Sued BAC Over BAC’s Dependence On MERS And Sub-Prime Mortgages Bank of America Corp has reached a $335 million settlement with the Pennsylvania Public School Employees’ Retirement System and disgruntled shareholders accusing it of misleading shareholders. Shareholders allege BAC exposed them to risky mortgages because of BAC’s dependence on the often unreliable MERS database. […]

BofA Request for Legal Fee Credit Raises Ethical Questions

Sue Reisinger, Law.com The Bank of America Corporation (BAC) is asking certain of its select outside law firms to give it a credit on its annual legal fees, based on the amount of business—such as loans—sent to the law firms. Some experts say that practice is highly unusual and ethically suspect. A form prepared by Bank […]

Linda Orlans

MFI-Miami Client Spanks Linda Orlans

Linda Orlans Screws Up. Will Fannie Mae Have To Pay A Homeowner For Her Screw Up? Linda Orlans and Fannie Mae may be forced to pay a homeowner’s attorney fees. Judge Paul Stutesman in Michigan ruled that Fannie Mae lacked the legal standing to evict Robin Roberts from her home . Orlans Associates failed to disclose […]

Bank of America drops case against TN trustee

Annie Johnson, Nashville Business Journal Charlotte, N.C.-based Bank of America(NYSE: BAC) has dropped its legal attack on Nashville’s Chapter 13 bankruptcy trustee. Earlier this year, as part of a consumer bankruptcy proceeding, Bank of America became the first lender to sue a Tennessee trustee of the court. In an agreement filed Thursday, Bank of America worked out […]

Does R-I-C-O Spell Relief For BofA Homeowners?

Joel Sucher, American Banker While shareholders queue up for a seat at the annual Bank of America extravaganza on Wednesday and the forces of Occupy get ready to mount major protests, a small group of lawyers plots its own campaign to take on what they call the “predatory mortgage banking cartel.” They are pained at […]

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