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Tag Archives: Banking

‘Speculative’ allegations result in dismissal of fraud claim (access required)

A borrower who failed to allege full compliance with Wells Fargo’s alleged representations about refinancing could not assert a claim for fraud because her failures rendered the falsity of Wells Fargo’s representations speculative. Background Denise M. Barnette originally brought this ...

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‘Branch’ must handle mortgage business to trigger meeting rule (access required)

Where there is a “branch office” within 200 miles of the borrower’s home, federal regulations require a bank to conduct a face-to-face meeting before initiating foreclosure proceedings. However, that obligation is only triggered where the “branch office” conducts some business ...

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‘Gimmick’ with money order didn’t satisfy mortgage (access required)

Where a mortgagee had an undisputed outstanding principal balance of $60,000, his tender of a $890 money order with the words “tendered as full satisfaction of the claim” inscribed in tiny, nearly indecipherable handwriting at the bottom and the mortgage ...

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Homeowners can’t demand production of original note (access required)

Homeowners cannot demand that the defendants produce the original note for inspection because such a demand is contrary to Virginia’s non-judicial foreclosure laws. In addition, the homeowners lack standing to contest the assignments of the deed, the appointment of substitute ...

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