Mortgage Lending Report
Banking institutions estimate that more than 2 million families face the possibility of having their adjustable-rate mortgage payments rise dramatically over the next two years.
A record number of homeowners received foreclosure notices in the second quarter of this year, and world financial markets are in turmoil as banks and investment funds report losses from mortgage-backed securities.
Subprime lenders are being investigated. Homeowners are suing lenders, brokers and construction companies. Investors are suing banks. Investment banks are suing mortgage firms. Homebuilders are facing securities class action lawsuits. Shareholders who bought securitized subprime mortgage bonds are suing institutional investors.
Mealey’s Litigation Report: Mortgage Lending will comprehensively cover these events as they unfold.
The report will summarize court decisions, pleadings, regulatory actions and legislative developments and cover topics such as the Truth in Lending Act, the Home Owners Equity Protection Act, the Real Estate Settlement Procedures Act, the Fair Housing Act, predatory lending, mortgage disclosures, discrimination, consumer protection / unfair trade, foreclosure and bankruptcy.
It will also cover subprime lending issues, including:
- Securities class actions by investors against lenders and home builders alleging failure to disclose information that, once released, adversely affected value of company stock.
- ERISA class actions by 401(k) participants and beneficiaries against lenders and home builders alleging failure to disclose information and breach of fiduciary duties.
- Class actions by home buyers against home builders and financial institutions alleging deceptive trade practices.
- Government actions against lenders.
- Lawsuits by investors against investment banks claiming lost money on bonds backed by subprime mortgages the investment bank sold.
- Corporate restructurings and asset sales of businesses adversely affected.
- Directors and officers liability.