Residential Mortgages Lender Liability Litigation: What Lies Ahead in 2018
Lender liability first gained prominence in the mid-1980s and claims made resurgence in the 2000s. Lender liability litigation became popular as a cause of action in the US when courts became less sympathetic to the argument that lenders could be found liable for the borrower’s financial distress.
For years, lenders were the ones who typically sued borrowers, but with lender liability, borrowers became just as likely to sue lenders for breach of loan agreements. It has been long since residential mortgage lenders were obliged and required by the Real Estate Settlement Procedures Act of 1974 (RESPA) and the Truth In Lending Act (TILA) to disclose to their borrowers the cost of credit to the consumer and the associated cost when closing the loan transaction.
There will always be borrowers who will fall behind on their loan obligations. With the ever-changing economic landscape and regulatory framework, lenders must keep themselves abreast with the recent trends, common potential litigation risks, and the growing areas of mortgage litigation.
In this LIVE Webcast, a seasoned panel of thought leaders and professionals brought together by The Knowledge Group will provide the audience with an in-depth analysis of the most important issues and developments in residential mortgages lender liability litigation. Speakers will also offer a comprehensive overview of all the important features and most critical issues like, but not limited to, CFPB’s Final TILA-RESPA Integrated Disclosure Rule.
Key topics include:
- Residential Mortgage – Legal Framework
- Litigation and Regulatory Enforcement Landscape
- CFPB's Oversight of the Residential Mortgage Industry
- TILA-RESPA Integrated Disclosure Rule
- Recent Changes and Ramifications
- New Disclosure Compliance Requirements
- Identifying Lender Liabilities
- Potential Implications on Residential Mortgage Industry
- Litigation Hurdles and Implementation Initiatives
- Mortgage Servicing Challenges
- Common Violations, Trends and Developments
- Potential Regulatory Consequences for Non-Compliance
- Practical Tips to Avoid Pitfalls
- Best Compliance and Enforcement Practices
Keith Anderson, Partner
Bradley Arant Boult Cummings LLP
- When does a plaintiff get fees and how much?
- Attacking Lodestar totals
- When and how to effectively use a Rule 68 Offer of Judgment
- Strategies to efficiently settle cases involving technical statutory violations and escalating attorneys’ fees
Peter Roach, Partner
Peter T. Roach and Associates, P.C.
- Payoff Letters
- Statute of Limitations
- Today’s Environment
- Requirement to Negotiate in Good Faith (NY)
- Sanctions for failure to Negotiate in Good Faith (NY)
Who Should Attend:
- Mortgage Brokers
- Real Estate Lawyers
- Settlement Agents
- Senior Executives
- In-house Counsel
Keith Anderson is a litigation and labor & employment partner at Bradly. His practice concentrates on representing financial institutions in mortgage litigation, as well as representing and advising employers in employment matters. In his financial institution practice, Keith has handled numerous litigated cases including TILA, RESPA, HOEPA, FDCPA, predatory lending, mortgage related fees and services, origination, pooling and servicing agreements, loan repurchase disputes, investor disputes, servicing matters, mortgage fraud, and contentious foreclosure actions. In employment cases, he has defended employers in claims under the FLSA, ADA, ADEA, FMLA, WARN and claims of discrimination, as well as counseling employers on compliance and effective employment policies.
Keith Anderson is a litigation and labor & employment partner at Bradly. His practice concentrates on representing financial institutions in …
Peter T. Roach maintains his law offices, Peter T. Roach & Associates, P.C. in Syosset, New York. He was graduated from S.U.N.Y. at Binghamton in 1973 and obtained his law degree from St. John’s University School of Law in 1978, where he graduated at the top of his class and received the American Jurisprudence Award in Commercial Transactions. Upon graduation from St. John’s, he founded his own mortgage banking company and after being admitted to the NY Bar in 1979, began representing both individual and institutional creditors.
Since 1988, Mr. Roach has served as an Adjunct Professor of Law at St. John’s University School of Law, teaching a variety of courses including Real Estate Finance, Real Estate Drafting, and Title Insurance. He has also lectured for St. John’s University Continuing Legal Education Program, New York State Bar Association, Queens and Nassau County Bar Associations, Practicing Law Institute, Lorman Education Services, National Business Institute, and Marino Legal Continuing Legal Education.
Mr. Roach co-authored How to Handle Your First Foreclosure, published by Practicing Law Institute, Real Property Foreclosure: A Step-by-Step Workshop and Advanced Issues in Real Estate, both published by National Business Institute, Title Examination in New York and Foreclosure and Repossession in New York, both published by Lorman Educational Services. His article entitled “Bundled Real Estate Services and Closing Cost Estimate: Give Clients a Straight Answer,” was published by the New York Real Property Law Journal, a publication distributed by the NY State Bar Association and republished by DeNovo, the St. John’s University School of Law Alumni Magazine.
Mr. Roach has been elected as a New York Metro Area Real Estate Super Lawyer each and every year from 2008 – to date, an honor given to less than five percent of the attorneys in the metropolitan area International Network of Boutique Law Firms (NY chapter president January 2008 – December 2010; January 2012 – December 2014);. He serves on the Board of Directors and is Vice-President of the Harmony Heights School, a therapeutic residential and day school serving girls with special emotional needs.
Mr. Roach has been a member of the Board of Directors of St. John’s University School of Law, since 1987, where he served as president from 2002-2004. He is also a member of the International Network of Boutique Law Firms, where he served as president of the New York Chapter from 2007-2010 and from 2013 - 2014. He serves on the Board of Directors and is Vice-President of the Harmony Heights School, a therapeutic residential and day school serving girls with special emotional needs.
Peter T. Roach maintains his law offices, Peter T. Roach & Associates, P.C. in Syosset, New York. He was graduated …
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Method of Presentation:
Experience in financial services law
NASBA Field of Study:
Business Law - Technical
NY Category of CLE Credit:
Areas of Professional Practice
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About Bradley Arant Boult Cummings LLP
The Financial Services Litigation and Compliance Group at Bradley Arant Boult Cummings LLP serves as counsel for a broad range of banks, lenders and financial services clients across the United States. As part of its nationwide practice, the team advises banks, mortgage servicers, lenders, and other consumer finance companies across a broad spectrum of legal issues, including regulatory compliance, governmental investigations, risk assessments, audit and exam support, business transactions, litigation, and multistate settlements. The firm’s unique, cross-disciplinary team has a national reputation as a leader in the consumer finance industry with a particular focus on mortgage origination and servicing compliance, enforcement, and litigation.
Bradley Arant Boult Cummings LLP is a regional law firm with a global perspective. The firm has nearly 500 attorneys serving emerging businesses; established regional, national, and international companies; and individuals. Recognized across the country, clients rely on the firm’s attorneys for innovative legal services that reflect an in-depth understanding of their business realities.
About Peter T. Roach and Associates, P.C.
Peter T. Roach & Associates, P.C. is a New York law firm with over 35 years of experience representing some of the largest financial institutions and mortgage servicers throughout the country in Foreclosure, Bankruptcy, Eviction, REO Sales, Loss Mitigation and Litigation. Our responsiveness and creativity is the foundation of our practice.
Mr. Roach, former CEO of a mortgage banking company, established his own law firm in 1979 to serve the needs of his own mortgage company. His experience as a mortgage banker and his knowledge of accounting and finance add a unique dimension to the firm’s Foreclosure, Real Estate, and Collection practices. The firm is SOC-2 Type 2 certified, fully automated and utilizes state of the art technology and custom software.