Banking Misconduct Blog

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Wells Fargo Ordered to Face Claims Over Loan Fees

Wells Fargo Ordered to Face Claims Over Loan Fees

Wells Fargo is at it again, this time facing allegations that it improperly charged homeowners with erroneous fees. The bank sought to dismiss the case but a federal judge in Camden, New Jersey said the homeowners could proceed with their bad faith claims. Since the case was brought as a class...
Borrower Defaults, Sues Banks... But Who One?

Borrower Defaults, Sues Banks... But Who One?

[Post updated through December 2020] We love when the underdog wins. Why? We are one of the very few lender liability law firms that only sue banks. Most lawyers that practice banking law represent the banks and not borrowers. Needless to say, borrowers are almost always the underdogs.
This...
Economic Duress (Another Tale of LNR Partners Wrongdoing)

Economic Duress (Another Tale of LNR Partners Wrongdoing)

We are not a fan of special servicers, especially LNR Partners and CWCapital. Somewhere along the way, both companies forgot their mission and began to be motivated by their own financial gain and not the well-being of their clients, the public or property owners.
Few property owners can...

Special Servicers - Operating Without Oversight (LNR, CWCapital C-III)

[Editor’s Note: This post originally appeared on our sister site, MahanyLaw in July of 2014. We have updated and reposted it here.] Special servicers are the folks that take over the handling of loans that are delinquent, in default, or believed to be troubled. In large, commercial mortgages,...

Wells Fargo Sanctioned for Illegal Fees

Bankruptcy is designed to provide a fresh start for honest but unfortunate debtors and to ensure creditors are treated fairly. A federal bankruptcy court judge in Manhattan recently ruled that Wells Fargo failed miserably in its treatment of several of its business clients. By taking money to which...

Special Servicing: the Ultimate Hardball Tactics

An article recently appeared on Syracuse.com. The title of the article was Inside Destiny USA’s Mortgage Emergency… Crisis or Hardball Bargaining? Destiny USA is the 6th largest retail mall in the United States. The journalist who wrote the article, Rick Moriarty, noted that the...

Second Mortgage Grounds for a Default? (Material vs Technical Breach)

Can a Lender Put Me in Default for a Technical Breach?
Here is a chilling scenario that happens more than you think. Borrower secures commercial mortgage back securities (CMBS) or other financing for the purchase of an office building or shopping mall. After a major tenant leaves, the...

CMBS Mall Loan in Default? We Can Help

There are hundreds of troubled loans across the United States involving shopping centers and strip malls. And things are getting worse. Boston Store, K-Mart and Sears. Lose an anchor tenant and very often it is the end of the mall.

We represent property owners and not banks, loan...

RICO Claims Must Cover 12 Months of Activity

Appeals Court Rules that Illegal Activity Must Continue at Least One Year to Establish Racketeering
How long must illegal behavior continue before it becomes racketeering? A federal appeals court in Philadelphia recently answered that question in an alleged Ponzi scheme case.
...

Voting with Your Feet – Wells Fargo Customers Leave in Droves?

Wells Fargo just won’t die. Billions of dollars in fines and penalties. Countless lawsuits. Even probation from bank regulators. Yet the company not only hangs on, it is still earning a profit too.
For many big banks, fines and penalties are a cost of doing business. Their business plan...
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