by Brian Mahany Bank of America chief executive officer Brian Moynihan’s deposition was just filed with the court after Thanksgiving. It reminds of some of the transcripts I have read dealing with mobsters. If there was an Academy Award or Oscar for the most stonewalling, Moynihan would be a shoe-in. Insurance giant MBIA sued Countrywide […]
Federal Appeals Court Rules In Favor Of Homeowner In Sub Prime Case
by Brian Mahany We keep saying that courts are finally beginning to wake up and realize that not all lenders and loan servicers were created equally. Recently a federal trial court in Ohio tossed claims against Bank of America and its progeny, Countrywide Home Loans. A husband and wife homeowner sued the lenders for fraud […]
NJ Court Refuses To Enforce Loan Provision Prohibiting Borrower From Suing
by Brian Mahany I thought I had seen everything until I read a story about Investor’s Saving Bank. If you haven’t figured out why juries dislike lenders and are awarding large judgments against banks, read on. A New Jersey company sought mortgage funding from Investors Savings. At the closing, Investors only provided half the funding. […]