Items Tagged with 'Miami'

ARTICLES

  • Part 2: The fallout of the Bank of America vs. City of Miami decision

    Potential future implications of the decision
    [Expert commentary] On May 1, 2017, the United States Supreme Court issued a decision that will likely have a profound impact on the residential mortgage industry. After the court’s decision in Bank of America vs. City of Miami, municipalities now have the standing to bring a legal action against residential mortgage lenders for any financial burden. Check out part two of this blog series on how this decision could affect consumers.
    Read More
  • Part 1: The fallout of the Bank of America vs. City of Miami decision

    An overview of the case and other present litigation
    [Expert commentary] On May 1, 2017, the United States Supreme Court issued a decision that will likely have a profound impact on the residential mortgage industry. After the court’s decision in Bank of America vs. City of Miami, municipalities now have the standing to bring a legal action against residential mortgage lenders for any financial burden. Here’s part one of what this ruling means for the industry and consumers.
    Read More
  • Supreme Court rules cities can sue banks for predatory lending

    Hands partial victory to Miami in suits against Bank of America, Wells Fargo
    The Supreme Court handed down a landmark ruling, stating that cities can sue banks for discriminatory mortgage lending practices, but cautioned that the burden of proof could be difficult to achieve. The ruling stems from a lawsuit brought by the city of Miami, which sued Bank of America, Wells Fargo and Citigroup in 2013, stating that the banks engaged in predatory lending to minority borrowers in the city.
    Read More
  • Zika virus fear could depress home values in Miami

    Appraisals should take the disease into account, group says
    The Zika virus, or more specifically, people’s fear of the virus, could reduce home values in Miami. The Property Tax Appeal Group says homeowners should be ready to appeal their property assessments if appraisers don’t take the virus into consideration when determining home values.
    Read More
  • Supreme Court to consider Miami's predatory lending suit against Bank of America, Wells Fargo

    Won't decide case, but could rule on city's ability to sue for lending discrimination
    The U.S. Supreme Court announced Tuesday that it will hear arguments during its next term on whether the city of Miami can sue Bank of America and Wells Fargo for alleged predatory lending. The city sued the megabanks in 2013, accusing the banks of "disproportionately placing vulnerable, underserved minority borrowers in loans they cannot afford."
    Read More