N.Y. Assembly Passes ‘Shadow Docket’ Legislation

Daniel Wiessner, Reuters The New York State Assembly this week approved a bill designed to expedite residential foreclosure cases by requiring lenders to file mandatory paperwork earlier in the process. The proposed law would create a new section, 3012-b, of the Civil Practice Law and Rules that would require lenders to file “a certificate of […]

NY AG Has More Proof Bank Of America And Wells Fargo Violated Mortgage Settlement

Reuters via Huffington Post New York Attorney General Eric Schneiderman said there is mounting evidence that Bank of America Corp, Wells Fargo and Co and other banks violated the terms of a settlement designed to end mortgage servicing abuses. Schneiderman – who has said he plans to sue Bank of America and Wells Fargo for […]

New York to Sue Wells Fargo and Bank of America Over Settlement Violations

JESSICA SILVER-GREENBERG, NY Times New York’s top prosecutor is poised to sue Bank of America and Wells Fargo over claims that they violated terms of a $26 billion mortgage settlement, according to several people briefed on the matter. Eric T. Schneiderman, New York’s attorney general, paved the way on Monday for a lawsuit against both banks for “repeatedly violating” […]

NY Appellate Court Says Sanctions Against Wells Fargo Went Too Far

David Dunn, Victoria McKenney and Jessica Ellsworth of Hogan Lovells For Reuters A New York state judge’s order sanctioning Wells Fargo for failing to negotiate during a foreclosure settlement conference violated the bank’s constitutional rights, a state appeals court ruled Wednesday. The Appellate Division, Second Department, reinstated a foreclosure action brought by Wells Fargo Bank […]

Cuomo Admin Requires OCWEN To Install Monitor

Exam Finds Indications that Problems Remain at Ocwen From New York State Department of Financial Services Superintendent Benjamin M. Lawsky today announced that the Department of Financial Services is requiring Ocwen Financial Corporation to hire a monitor to ensure that the company complies with an agreement to reform its mortgage servicing practices. The action was […]

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