Banking Misconduct Blog


Banking Disgrace? BBVA Compass Bank’s Treatment of Wounded Vets

Michael Masters is a true American hero. An Army soldier who served during the Gulf War, Michael is a 100% disabled veteran. Like many wounded warriors, he found it difficult to assimilate back into civilian life. Today he is homeless and struggling to get back on his feet.
Michael survives...

Special Servicer LNR Partners Sued in Shopping Center Row

[Ed. Note - If you own a commercial property and find your loan has been transferred to a special servicer, READ THIS POST.]
The owners of a Ft. Wayne shopping center have filed suit against special servicer LNR Partners and others over a mortgage covering the property where the center is...


Ocwen’s Many Evils - Systematic Abuse of Struggling Homeowners

Last April, the Consumer Financial Protection Bureau announced a lawsuit against Ocwen and its subsidiaries for “failing borrowers at every stage of the mortgage servicing process.” The CFPB’s statement claimed that “Ocwen’s years of widespread errors, shortcuts, and...

Independence Day, Bank of America, and Financial Tyranny (HAMP Post)

Topics:
-Bank of America Accused of Stealing Homes -Fighting Back Against Banks -The Truth about HAMP Modifications  Today is July 4th and in thousands of communities, people will celebrate our independence with fireworks tonight. Independence from tyranny and a privileged ruling...

Is Your Bank Unsafe? (Lender Liability Post)

Between 1990 and today, some 8500 banks have disappeared. (Since the banking crisis in 2008, 525 banks have closed by regulators according to problembanklist.com) In most instances, FDIC insurance will protect deposits. The real harm often comes to commercial borrowers.
 
Danger...

CMBS for Novice Investors

Understanding Commercial Mortgage Backed Securities (CMBS) can be a daunting task for the novice investor. As lender liability lawyers, we grapple with complex loan arrangements daily. We understand the jargon, the many different players in a CMBS transaction and how all the pieces fit together....

Judge Accuses Bank of America of "Battle-Fatigued Demoralization"

A federal judge in Sacramento, California has given Bank of America a lesson in corporate responsibility. Bankruptcy Judge Christopher Klein sanctioned America's "Too Big to Care" banking giant up to $46 million for causing severe emotional distress to a California couple facing foreclosure. In the...

Can I Sue My Bank for Not Providing Promised Refinancing

[Spoiler Alert – There is hope for borrowers fighting banks who failed to deliver on a promised refinancing.]
 
The failure of banks to deliver on a promised modification or refinancing is one of the most frequent complaints we hear from commercial borrowers. In the typical...

Unauthorized Fund Transfers (Bank Wire Fraud)

This is every consumer’s and business owner’s worst nightmare. One morning you open your email and see that large numbers of checks are bouncing. “That’s odd,” you think. There should be plenty of money in your account. Even though you know that there is money in your...