Campidoglio v. Wells Fargo Bank, N.A.

The Home Owners Loan Act does not preempt a state law breach of contract claim that the bank miscalculated adjusted interest rates on loans, since common law breach of contract claims impose no requirements other than those the bank voluntarily assumed in its own agreements.  The Home Owners Loan Act does not preempt a state…

Branch Banking & Trust Co. v. D.M.S.I., L.L.C.

The Financial Institutions Reform, Recovery, and Enforcement Act (“FIRREA”) preempts a Nevada law that limited deficiency judgments on foreclosure to the amount by which the price the owner paid to acquire the loan exceeded the foreclosure sale price.  BB&T acquired three loans from the same group of defendants when it bought Colonial Bank’s assets from…

BRE DDR BR Whittwood CA LLC v. Farmers & Merchants Bank of Long Beach

If a tenant’s leasehold interest is foreclosed upon, the purchaser at the foreclosure sale succeeds, as assignee, to the tenant’s right to occupy the premises and to all covenants of the lease that run with the land, but not to the lease contract itself absent express assumption.  Upon foreclosure of a deed of trust on…

Los Angeles Lakers, Inc. v. Federal Ins. Co.

Any Telephone Consumer Protection Act claim necessarily involves an invasion of privacy, so such a claim fell within the invasion of privacy exclusion to the insured’s directors & officers insurance policy.  The lead opinion in this splintered decision holds that a Telephone Consumer Protection Act claim necessarily involves an invasion of privacy and so the…

Afewerki v. Anaya Law Group

A state court complaint’s misstatements of the amount owed and interest rate in a complaint a law firm filed to collect a consumer credit card debt were material and a violation of the Fair Debt Collection Practices Act.  The FDCPA prohibits debt collectors from making false statements when attempting to collect debts from consumers.  Here,…

Robins v. Spokeo, Inc.

Plaintiff who sued under the Fair Credit Reporting Act alleged a sufficiently concrete injury to ensure his Article III standing in case against information aggregation service who posted incorrect information about his age, marital status, wealth, education level, and profession.  On remand from the Supreme Court, the Ninth Circuit holds that Robins has alleged a…

Hovannisian v. First American Title Ins. Co.

Coverage under a standard California lender’s policy of title insurance terminates once the property is sold, without warranty, at a foreclosure sale.  To secure its loan to the owners, Wells Fargo obtained what was labelled “First Deed of Trust,” and it obtained a title policy insuring its lien’s status as the senior lien on the…

PGA West Residential Assn., Inc. v. Hulven International, Inc.

A suit to cancel a deed of trust defendant gave his wholly-owned corporation to avoid paying his debts was barred by the California Uniform Fraudulent Transfer Act’s a 7-year statute of repose on fraudulent transfer claims.  This decision holds that Civ. Code 3439.09(c)’s seven year limit is a statute of repose, not a statute of…

Jones v. Royal Administration Services, Inc.

An advertiser bears vicarious liability for a telemarketer’s Telephone Consumer Protection Act violations, if the telemarketer was an agent rather than an independent contractor—a question resolved under federal common law by applying the 10-factor Restatement of Agency test.  An advertiser bears vicarious liability for its telemarketer’s TCPA violations only if the telemarketer is an agent…

Conroy v. Wells Fargo Bank, N.A.

A loan servicer owes a borrower no duty of care in handling his home loan modification application; also, unless the borrower documents a change in financial circumstances, dual tracking prohibitions do not apply to second/subsequent loan modification requests, even if the lender accepts, processes, and reviews the later loan applications.  This decision holds that a…

Crossroads Investors, L.P. v. Federal National Mortgage Assn.

Lender’s alleged failure to (1) provide reinstatement amounts in response to a defaulted borrower’s request or (2) respond to plaintiff’s claimed tender of arrearages under the deed of trust, were protected activity under the Anti-SLAPP statute, but only because they occurred in the context of the borrower’s bankruptcy proceeding.  In this case, the Court of…

Deutsche Bank National Trust Co. v. Pyle

A void default judgment, obtained without proper service on the defendant, cannot be the foundation of a valid claim of title to property, so the secured lender against whom the default judgment was entered prevails over a bona fide purchaser from the plaintiff.  Following OC Interior Services, LLC v. Nationstar Mortgage, LLC (2017) 7 Cal.App.5th…