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Sherman Wells Sylvester Stamelman | USA | 30 Dec 2016
Omnibus New York Foreclosure Law Takes Effect on December 20, 2016
Recent changes to New York's foreclosure statutory scheme are set to go into effect on December 20, 2016. These wide-ranging revisions include the…
Sherman Wells Sylvester Stamelman | USA | 30 Dec 2016
U.S. Supreme Court Holds Defendant Criminally Liable Under Bank Fraud Statute for Stealing Customer’s Funds
In Shaw v. United States of America, 2016 WL 7182235, 580 U.S. ---- (Dec. 12, 2016), the United States Supreme Court interpreted the reach of 18 U.S…
Sherman Wells Sylvester Stamelman | USA | 30 Dec 2016
Appellate Division Affirms Discharge of Receiver After Settlement of Foreclosure Action
In Investors Bank v. Trylon/CREST Construction, Inc., 2016 WL 5922751 (N.J. App. Div. Oct. 12, 2016), the Appellate Division affirmed the Trial…
Sherman Wells Sylvester Stamelman | USA | 31 Aug 2016
Banking Alert - August 2016
At the close of the 2016 legislative session, the New York Legislature passed changes to the mandatory foreclosure settlement conference law. These…
Sherman Wells Sylvester Stamelman | USA | 26 Jul 2016
In Stinging Rebuke to Financial Institutions and Title Companies, NJ Supreme Court Favors Law Firm’s Effort to Collect Unpaid Legal Bills
In a case closely-watched by New Jersey Banks and the Title Industry and plainly important to both the New Jersey Supreme Court granted lien priority…
Sherman Wells Sylvester Stamelman | USA | 26 Jul 2016
New Jersey Trial Court Finds Foreclosure Action Barred by Six-Year Statute of Limitations
Addressing an issue of first impression, a trial court in Anim Investment v. Shaloub, BER-F-30508-15 (Ch. Div. Jun. 30, 2016), found that an assignee…
Sherman Wells Sylvester Stamelman | USA | 26 Jul 2016
New Jersey District Court Denies Motion to Dismiss Complaint Against Bank Alleging Violations of RESPA and State Law Tort Claims
In Edyta v. Bank of America, N.A., 2016 WL 3545521 (D.N.J. June 28, 2016), the District Court of New Jersey denied defendant Bank of America's…
Sherman Wells Sylvester Stamelman | USA | 28 Jun 2016
Appellate Division Dismisses NJLAD Class Action Complaint Against Bank
In Resua v. BCB Bancorp Inc., 2016 WL 3189655 (N.J. App. Div. Jun. 9, 2016), the Appellate Division dismissed a class action complaint asserting age…
Sherman Wells Sylvester Stamelman | USA | 28 Jun 2016
Appellate Division Affirms Trial Court’s Order Denying Third-Party’s Motion to Intervene in Mortgage Foreclosure Action
In Wells Fargo Bank, N.A. v. Rivera, 2016 WL 3129234 (N.J. App. Div. June 6, 2016), the New Jersey Appellate Division affirmed a trial court order…
Sherman Wells Sylvester Stamelman | USA | 28 Jun 2016
District Court Finds Thirty-Day Reporting Requirement in Customer Account Agreement to be Reasonable
In Oguguo v. Wells Fargo Bank, NA, et al., No. 14-cv-2383, 2016 WL 3041853 (D.N.J. May 27, 2016), the United States District Court for the District…
