March 16, 2015
Monday’s Adjudication Roundup
- BofA has asked a PA federal judge to dismiss a class action RICO suit alleging kickbacks from overpriced mortgage insurance claiming it is the same suit that was dismissed as time-barred by Third Circuit in October.
- Deloitte is potentially facing $1.3 billion plus punitive damages to Freddie Mac for negligently auditing work for Taylor Bean, a mortgage lender with a massive employee fraud.
- Circuit split continues on whether and when lenders are responsible for development project failures when the Seventh Circuit ruled that the lender’s insurers would not cover the emergence of contractor liens in a failed $118 million real estate development.
