FDN NETWORK ATTORNEY JASON ESTAVILLO DEFEATS SUMMARY JUDGMENT ON ALL COUNTS OF COMPLAINT

October 7, 2016

Today, FDN network attorney Jason Estavillo, Esq. was successful in defeating Bank of America and HSBC Bank on their Motion for Summary Judgment or in the Alternative Summary Adjudication in San Francisco Superior Court. Mr. Estavillo represents the homeowners.

The court denied BOA’s and HSBC’s MSJ as to all counts of the homeowners’ Complaint, sounding in Cancellation of Instruments, Violations of Business and Professions Code Sec. 17200 et seq., Declaratory Relief, and Breach of Contract. The Court held that BOA and HSBC “failed to show that the beneficial interest in the Note and Deed of Trust were “transferred” to Countrywide Financial.”

BOA and HSBC attempted to prove the alleged “transfer” of the loan through a third party letter, but the court held that the letter was not admissible evidence and even if it was, “it does not show that Countrywide Financial ever “accepted” it or even paid the purchase price. Additionally, no evidence is presented to show a connection between Countrywide Financial and Bank of America, N.A. as successor by merger to BAC Home Loans Servicing, LP FKA Countrywide Home Loans Servicing LP.”

Summary Judgment was denied as to all causes of action. The case now proceeds to trial.

Jeff Barnes, Esq., www.ForeclosureDefenseNationwide.com

FEDERAL 10TH CIRCUIT PERMITS HOMEOWNERS TO SUE BANK OF AMERICA FOR RICO VIOLATIONS IN CONNECTION WITH LOAN MOD MISREPRESENTATIONS

October 5, 2016

The United States Court of Appeals for the 10th Circuit (which is the Federal appeals court for Federal cases filed in Colorado, Kansas, New Mexico, Oklahoma, Utah, and Wyoming) has issued a 38-page opinion which reversed the trial court’s dismissal of RICO and other claims filed by homeowners against Bank of America and a company which it hired in connection with fraudulent administration of HAMP loan mod applications. The case is George et al. v. Urban Settlement Services and Bank of America, No. 14-1427 (10th Cir., Aug. 15, 2016).

The homeowners alleged that the Defendants fraudulently represented that if the homeowners made all of their TPP payments during the trial period that BOA would sign off on their loan modifications and the modifications would become permanent. Although the homeowners complied with all of the terms of the TPP and BOA sent permanent loan mod applications which were completed by the homeowners, BOA failed to modify the loans.

The 10th Circuit cited decisions from the 1st, 7th, and 9th Circuits which held that the promises made in TPP documents were enforceable, and found that the homeowners had alleged sufficient facts to support claims under RICO against BOA and the company it hired, and for promissory estoppel against BOA.

Jeff Barnes, Esq., www.ForeclosureDefenseNationwide.com

FD SEMINARS ADDITIONAL CLE CERTIFICATION OBTAINED

October 5, 2016

FD Seminars presenter Richard Kahn has obtained four (4) CLE credits for the courses which he will be teaching at the Foreclosure Defense seminar series. The Florida Bar has accredited his courses for four General CLE credits, and also 4 credits for business litigation and 4 credits for real estate.

Jeff Barnes, Esq., www.ForeclosureDefenseNationwide.com