Wrongful Mortgage Foreclosure: Lender and Loan Servicer Strategies

Responding to Recent Litigation Trends, State AG Enforcement and Emerging Regulatory Initiatives

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


Conducted on Tuesday, July 19, 2011

Recorded event now available

or call 1-800-926-7926

This CLE webinar will provide counsel for lenders and mortgage servicers with a review of recent developments in mortgage foreclosure litigation and enforcement, with guidance to reduce exposure to wrongful foreclosure claims, and best practices to respond to challenges to foreclosure practices.

Description

The foreclosure crisis unleashed individual and class action litigation challenging foreclosure practices of some of the nation's largest lenders. Federal and state AG investigations and enforcement actions continue to focus aggressively on the mortgage servicing industry.

The multi-state AG investigation of foreclosure practices of many large loan servicers is in the settlement stage with requirements to modify more mortgages and penalty demands of up to $20 billion. The final settlement terms may set future benchmarking for acceptable servicing standards.

The easing of federal preemption standards in Dodd-Frank’s consumer protection provisions will only increase state AG investigations and litigation. The newly formed Consumer Financial Protection Bureau is also likely to partner with state AGs to address alleged deficiencies and fraud in foreclosure.

Listen as our authoritative panel discusses the most recent trends and developments in wrongful mortgage foreclosure and offers lenders and servicers best practices for reducing their exposure to wrongful foreclosure claims.

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Outline

  1. Evolution of legal actions resulting from the foreclosure crisis
    1. Emerging theories of liability for wrongful foreclosure
    2. State Attorneys General investigations
    3. Individual and class action lawsuits
    4. Legislative and regulatory developments
  2. Strategies to reduce exposure to wrongful foreclosure 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 are the emerging theories of liability used to challenge foreclosures and loan servicing practices?
  • What is the status of the settlement negotiations in the multi-state AG investigation of alleged unfair and fraudulent mortgage servicing practices?
  • What are the most common mistakes mortgage servicers make when modifying or foreclosing on loans that can lead to wrongful foreclosure claims?
  • What steps should servicers take when faced with allegations of wrongful foreclosure?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

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

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

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

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