Lender Liability for Wrongful Mortgage Foreclosure

Responding to Attorneys General Investigations and Minimizing Liability Risk

Recording of a 90-minute CLE webinar with Q&A


Conducted on Tuesday, November 30, 2010

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE webinar will provide guidance for mortgage servicers' counsel on strategies to reduce exposure to lender liability claims for wrongful foreclosure and outline best practices to respond to lender liability investigations and lawsuits.

Description

A number of mortgage servicers are facing attorneys general (AG) investigations in multiple states and anticipating a rash of borrower and guarantor lawsuits amid a “foreclosure crisis” fueled by allegations of improper and unlawful practices during judicial foreclosures.

AGs in Ohio, Connecticut, Florida, Texas, North Carolina, Iowa and Illinois have halted pending foreclosures. Colorado, California and Massachsetts AGs have also asked servicers to suspend foreclosures. Bank of America, JP MorganChase and Ally Bank have all voluntarily halted foreclosures.

Suits claim servicers submitted false documents and signatures to courts to justify foreclosures. Servicers who are found to have acted fraudulently may be subject to sanctions, legal costs and dismissal of pending foreclosures. Reopened foreclosures will also impact title insurers.

Listen as our authoritative panel explains steps servicers should take to reduce their exposure to lender liability claims for wrongful foreclosure. The panel will offer servicers facing such claims best practices to minimize liability.

READ MORE

Outline

  1. Overview of foreclosure crisis
    1. Allegations
    2. Attorney General investigations
    3. Voluntary foreclosure halts
    4. Individual and class action lawsuits
  2. Strategies to reduce exposure to lender liability claims
    1. Notice to borrowers regarding changes to loan terms
    2. Adherence to loan terms
    3. Avoiding establishment of fiduciary relationship with borrower
    4. Accurate and objective borrower files
    5. Implementation and adherence to foreclosure policies and procedures
  3. Best practices for lenders facing investigations and lawsuits

Benefits

The panel will review these and other key questions:

  • What is the basis for legal claims alleging wrongful foreclosure?
  • How have the GSEs/investors responded so far to investigations into the execution of affidavits, verifications and other legal documents to support judicial foreclosures?
  • What are the most common mistakes mortgage servicers make when modifying or foreclosing on loans that can lead to lender liability claims?
  • What steps should servicers take when faced with allegations of wrongful foreclosure?

Faculty

Michael S. Waldron
Michael S. Waldron

Partner, Moderator
Patton Boggs

He helps clients navigate transactional, regulatory and litigation matters facing the financial services and mortgage...  |  Read More

Christina Guerola Sarchio
Christina Guerola Sarchio

Partner
Patton Boggs

She is Co-Chair of the firm's Government Investigations and Litigation Practice Group and concentrates her...  |  Read More

Gerald B. Alt
Gerald B. Alt

President and CEO
HEART Financial Services

He founded HEART, a full service loss mitigation outsourcing company, in April 2007. HEART has worked on nearly 1...  |  Read More

Patrick F. McManemin
Patrick F. McManemin

Partner
Patton Boggs

With more than 30 years’ experience, his practice has included major jury trials and commercial arbitrations, as...  |  Read More

Anthony J. Laura
Anthony J. Laura

Partner
Patton Boggs

His experience in the financial services industry includes representing clients in commercial and class action...  |  Read More

Other Formats
— Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Audio

$297

Download

$297