Francis X. Riley III

Bipartisan "Consumer Mortgage Choice Act" Introduced In U.S. House to Expand Dodd-Frank's Exemption for "Qualified Residential Mortgages"
Francis X. Riley,Nicholas C. Stewart, April 5, 2012
Members of the U.S. House of Representatives from both parties filed on Thursday, March 29, 2012 the "Consumer Mortgage Choice Act" ("CMCA"). If enacted, CMCA would amend Dodd-Frank Act's calculation for determining if a mortgage loan is QRM compliant by: (1) excluding...

Another Strike against National Bank Act Preemption
Carolyn Due,Francis X. Riley, March 26, 2012
On March 13, 2012, the United States District Court for the Northern District of West Virginia affirmed the stricter analysis now required under the Dodd-Frank Act for determining whether a consumer claim brought against a bank is preempted by the National Bank Act (“NBA”). The district...

New Jersey Supreme Court Clarifies the Information Required In a Notice of Intention to Foreclose and Holds That Non-Compliance Is Not Fatal To a Foreclosure Action
Ryan L. DiClemente,Francis X. Riley, March 1, 2012
On February 27, 2012, the Supreme Court issued a long-awaited decision in US Bank N.A. v. Guillaume, et al. clarifying whether a lender’s name and address were required on the notice of intention to foreclose, which must be sent to the borrower prior to the filing of a residential foreclosure...