ca court over rules bofa - case update
TRANSCRIPT
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7/23/2019 CA Court over rules BofA - Case update
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6X+
9
4
7
3 LJIHGTT,
2
>Qlmkotkcc.s+,
v/;
=1 FMOH JC M@GVKIM,
==
Yupgrkjr Ijurt jc Imlkcjrokm
Ijuoty jc Ljs Mobglgs
Dgpmrtgot 7=
Njojrmflg Mfrmnm Hnmo
Dgcgodmot. s+/=6
=9
=4
=7
=3
=2
=>
=;
6 1
6= Eudkikml ojtkig ks dgokgd/
Imsg Oj/5 FI4;=1;9
Ngmrkob Dmtg5 4*9*=9
XTGOTMTKSGP VWLKOB VG5
DGCGODMOT FMOH JC M@GVKIM, O/M/ "Y
DG@WVVGV TJ CKVYT M@GODGD
IJ@QLMKOT8 @JTKJO TNGVGJC TJ
YTVKHG QJVTKJOY JC CKVYT M@GODGD
IJ@QLMKOT/
crmud, mod ks jtngrwksg jvgrrulgd/Tng dgurrgr ks sustmkogd, wktnjut lgmvg tj mgod, joly ms tj tng Cjurtn mod Ckctn ilmk s cjr
mttjrogy cggs/
Tng jtkjo ks brmotgd, wktnjut lgmvg tj mgod, ms tj puoktkvg dmmbgs, mod dgokgd, ms tj
6 6
6 9
64
6 7
Twgoty dmys tj moswgr tng survkvkob imusgs jc mitkjo mod rggdkgs/
Vgbmrdkob dgilmrmtjry rglkgc, tng plgmdkob succkikgotly mllgbgs tnmt prjkssjry ojtg wms kovmlkdl
msskbogd tj jog ilmk kob m rkbnt tj pmygots fmsgd upjo tng ljmo trmosmitkjo, tj stmtg mo mitum
ijotrjvgrsy/
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7/23/2019 CA Court over rules BofA - Case update
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7/23/2019 CA Court over rules BofA - Case update
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6 Mttjrogys" cggs mrgojt sufegitgd tj moy kok ml plgmdkob stmodmrd, uodgr Imlkcjrokm lmw/
4
Eudkikml ojtkig jc mo msskbogot jc tng dggd jc trust wjuld fg grrjr, wngrg tng plgmdkob vgry
spgikckimlly mllgbgs tnmt kt ks mcjrbgry .g/b/, Ckrst M godgd Ijplmkot, ~=9+/G
3 Gccgitkvg Emoumry =, 61=9, lgbkslmtkjo omgd &Tng Imlkcjrokm Njgjwogr Fkll jc Vkbnts,"
prgiludgs ljmo sgrvkigrs crj cjrgiljskob uotkl mctgr prg- jdkckimtkjo mod prg-cjrgiljsurg ojtkig
mod rgvkgwkob ljmo- jdkckimtkjo mpplkimtkjos/2
g
~
= I
M puflksngd jpkokjo kodkimtgs tnmt tng Imlkcjrokm Njgjwogrs Fkll jc Vkbnts nglps tj snmpg
eudkikml pjlkiy, gvgo ko mrgms mod cjr tk gs cmllkob jutskdg jc kts gxprgss mpplkimtkjo/ Ypgikckimlly,mo jpkokjo kodkimtgs tnmt ijurts snjuld koirgmsg koku stmodmrds cjr fmohs dgmlkob wktn
fjrrjwgrs, ko jrdgr tj cjlljw tng lgmd jc ogw lgbkslmtkjo, ms cjlljws5
= =
=~
=~
=M
=~
= G
Brmotgd, tngsg mglkjrmtkvg gccjrts nmvg fggo dkrgitgd prkmrkly mt mkdkob rgskdgo
njgjwogrs mt rksh jc ljskob tngkr njgs/ .Ikv/ Ijdg, 6;69/7, sufd/ .c+8
Mssg/ Fkll Oj/ 62>, =>, mddkob Ikv/ Ijdg, 6;64/=7/+ Rg mlsj uodgrstmo
tngrg ks oj gxprgss duty jo m lgodgr"s pmrt tj brmot m jdkckimtkjo uodgr stmtg 0
cgdgrml ljmo jdkckimtkjo stmtutgs/ Mod uotkl tng ogw lgbkslmtkjo tmhgs gccgit, o
prkvmtg rkbnt jc mitkjo cjr dmmbgs ks brmotgd uodgr tng stmtutgs/ .Ygg Nmkltjo v/
Brggowkin Kovgstjrs ^^SK, LLI .61==+ =;7 Iml/MppMtn =316, =3=3 X=63 Iml/
Vptr/ 9d =24P8 @mfry v/ Yupgrkjr Ijurt .61=1+ =>7 Iml/Mpp/4tn 61>, 6=4 X==
Iml/ Vptr/ 9d 61=P8 Qmotjem v/ Ijuotrywkdg Njrog Ljmos, Koi/ .O/D/Iml/611;+ 34
C/Yupp/6d ==22, ==>>/+ Rg dj ojt iktg moy jc tngsg lgbkslmtkvg gmsurgs k
rglkmoig upjo tngkr prjvkskjos, ojr dj wg subbgst tngkr prjvkskjos wgrg vkjlmtgd k
tng prgsgot imsg/ Vmtngr, wg rgcgr tj tng gxkstgoig-mod rgigot strgobtngokob--j
tngsg lgbkslmtkvg gmsurgs fgimusg tngy dgjostrmtg m rkskob trgod tj rgqukr
lgodgrs tj dgml rgmsjomfly wktn fjrrjwgrs ko dgcmult tj try tj gccgitumtg
wjrhmflg ljmo jdkckimtkjo/ Ko snjrt, tngsg gmsurgs kodkimtg tnmt NO=3 ijurt
= ,
=>
=;
6 1
6=
6 6
66
6 4
6 G
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7/23/2019 CA Court over rules BofA - Case update
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6
9
snjuld ojt rgly ginmokimlly jo tng &bgogrml rulg& tnmt lgodgrs jwg oj duty 0
imrg tj tngkr fjrrjwgrs/
4
7
3
Gxkstkob stmtg stmtutgs rglmtkob tj ljmo jdkckimtkjos wkll sjjo fg supplggotgd f
stkccgr rgstrkitkjos jo tng ijoduit jc lgodgrs mod ljmo sgrvkigrs durkob tng =1
jdkckimtkjo prjigss/ Gvgo ms tnks imsg nms fggo pgodkob fgcjrg us, jo Euly 6
61=6, tng Imlkcjrokm Lgbkslmturg pmssgd Mssgfly Fkll Oj/ 62> mod Ygomtg Fkl
Oj/ ;11, wnkin nmvg skoig fggo skbogd kotj lmw fy tng Bjvgrojr/ Tngs
prjvkskjos mddrgss jrg pjkotgdly tng cjrgiljsurg irksks ko jur stmtg tnrjubn gvg
brgmtgr goijurmbggot tj lgodgrs mod ljmo sgrvkigrs tj gobmbg ko bjjd cmktn ljm
jdkckimtkjo gccjrts/
2
g
=I
Ejllgy v/ Inmsg Njg Ckomoig, LLI .61=9+ Z Iml/Mpp/4tn Z, Z, 61=9 Iml/ Mpp/ LG^KY
=12,66,3= - 39/
==
= k
= 6
=4
=G
=G
=2
=>
=;
6 1
Njwgvgr, mcgdgrml trkml eudbg kodkimtgd tnmt tng fkll ks ojt rgtrjmitkvg/ Tng Imlkcjrokm
Njgjwogr Fkll jc Vkbnts, Ikvkl Ijdg Ygitkjo 6;64 wgot kotj gccgit Emoumry =,61=9, nms ojt
fggo mpplkgd rgtrjmitkvgly/ @iBjubn v/ Rglls Cmrbj Fmoh, O/M/ .O/D/Iml/, 61=6+ 61=6 RL
7=;;4==, 7 oM/
Mddktkjomlly, tngrg ks oj mutnjrkty prjvkdkob cjr m njgjwogr"s ijurt mitkjo sgghkob m prgsml
dgtgr omtkjo ms tj wngtngr tng pmrty koktkmtkob cjrgiljsurg wms mutnjrkzgd tj dj sj/
Ijuotrywkdg Njg Ljmos, Koi/ .61==+ =;6 Iml/MppMtn ==4;,==74/ Kostgmd, fjrrjwgr
lgbktkmtgly imo sggh tj goejko trustggs" smlgs, jr tj sgt mskdg pmst smlgs/ Vjfkosjo v/
Ijuotrywkdg Njg Ljmos, Koi/ .61==+ =;; Iml/MppMtn 46, 43 o/7 .dgurrgr prjpgrl
sustmkogd, wktnjut lgmvg tj mgod, ms tj ilmk s cjr &wrjobcul koktkmtkjo jc cjrgiljsurg,& mo
&dgilmrmtjry rglkgc,& wngrg fmsgd jo mllgbmtkjos tnmt @GVY lmihgd mutnjrkty tj koktkmt
cjrgiljsurg+/
6=
6 6
69
6 4
6 G
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7/23/2019 CA Court over rules BofA - Case update
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Njwgvgr, mDkstrkit Ijurt eudbg kotgllkbgotly dkstkobuksngd Bjgs, suprm .dksmpprjvkob prgsmlg
dgilmrmtjry rglkgc mllgbmtkjos ms tj cjrgiljsurg mutnjrkty+, ko rgmsjokob tnmt dgilmrmtjry rglkg
ijuld fg mitkjomflg wngrg tng pmrtkgs mrg ojt cmikob cjrgiljsurg, fut mrg dksputkob wngtngr tn
prjkssjry ojtg wms prjpgrly/ msskbogd tj jog dgmodkob pmygots fmsgd upjo tng
trmosmitkjo/ Ygg @mtm v/ Iktk jrtbmbg, Koi/ .I/D/Iml/ 61==+ 61== RL 4746269, 6/t
G
==
Dkstkobuksnmfly, ms tj ilmk s jc wrjobcul cjrgiljsurg, fmsgd upjo kllgbml msskbogots, fjrrjwgr
ust mllgbg mod snjw prgeudkig/ Cjotgojt v/ Rglls Cmrbj Fmoh, O/M/ .61==+ =;> Iml/Mpp/4t
673, 626 .ojtkob tnmt kt ks dkcckiult tj ijoigkvg njw fjrrjwgrs ijuld snjw prgeudkig crj
uomutnjrkzgd trmoscgr, fgimusg fjrrjwgrs ust motkikpmtg tng lgbml pjsskfklkty jc ojtg trmoscgrs t
dkccgrgot irgdktjrs, dgcmults ko pmygots jo tng ojtg imusg moy prgeudkig vkm cjrgiljsurg, mo
jrkbkoml lgodgrs wjuld fg tng jogs prgeudkigd fy mo uomutnjrkzgd ljss+/ Miijrd Ngrrgrm v/ Cgd/Omt"l @jrt/ Mssji/ .61=6+ Z Iml/Mpp/4tn Z, Z, 61=6 RL =263;71,Z/
=
G
c
=I
=~
=~
Ms cjr crmud, tng rgqukrggots jc pmrtkiulmr plgmdkob, mpplkimflg bgogrmlly, lkhgwksg mpply t
ijplmkots rglmtgd tj cjrgiljsurgs/ &Gmin glggot ko m imusg jc mitkjo cjr crmud /// ust f
cmitumlly mod spgikckimlly mllgbgd/ XIktmtkjo/P& Qgrlms v/ B@MI @jrtb/, LLI .61=1+ =>
Iml/Mpp/4tn 46;, 494 .mddrgsskob mllgbgd njg-ljmo crmud+/ Ko jog imsg, plmkotkccs cmklgd t
mllgbg crmudulgot cjrfgmrmoig rgprgsgotmtkjos, wngrg tng mllgbmtkjos gotkrgly cmklgd tj spgikcy wn
smkd wnmt, tj wnj, mod njw tng stmtggots imusgd nmr/ Nmkltjo v/ Brggowkin Kovgstjr
.61==+ =;7 Iml/Mpp/4tn =316, =3=4/==
= F
=;
6 I
Tng cjlljwkob mllgbmtkjos wgrg ojt succkikgotly spgikcki cjr plgmdkob crmud5
&Qlmkotkcc nmd spgikcki dksiusskjos wktn gpljyggs jc EQ@jrbmo Inmsg prkjr tj tng tk`
EQ@jrbmo Inmsg miqukrgd tng igrtmko mssgts mod lkmfklktkgs jc Rmsnkobtjo @utuml crj
tng CDKI ko wnkin tng rgprgsgotmtkvgs mod gpljyggs jc EQ@jrbmo Inmsg, fjtn prkjr t
kts miquksktkjo jc Rmsnkobtjo @utuml crj tng CDKI mod sufsgqugot tj kts miquksktkjo 0
Rmsnkobtjo @utuml, mdg rgprgsgotmtkjos tnmt kc plmkotkcc spgot nks jwo cuods tj frko
tng njusg tj tng pjkot jc jftmkokob m ckoml fukldkob kospgitkjo, EQ@jrbmo Inmsg wjul
prjvkdg rgk fursggot jc tng fmlmoig jc tng ijostruitkjo cuods mod pgrmogot ckomoikob/
6=
6 6
6 6
6 4
6 G
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4
7 Yijtt v/ EQ@jrbmo Inmsg Fmoh, O/M/ .61=9+ Z Iml/Mpp/4tn Z, Z, 61=9 Iml/ Mpp/ LG^KY 6==, 47/
3
6
9
2
g
s
=I
==
= k
=~
=4
=G
=G
= 2
=>
=;
6 1
6=
6 6
69
6 4
6 G
Ms m rgsult jc tnjsg rgprgsgotmtkjos, plmkotkcc dkd gxpgod ko gxigss jc $411,111/11 jc nk
pgrsjoml cuods, koiludkob, fut ojt lk ktgd tj, fjrrjwkob crj nks pgoskjo plmo tj ijpl
wktn tng ijodktkjos sgt cjrtn fy EQ@jrbmo Inmsg/&
Ko ijotrmst, tngsg dgsirkfgd mllgbmtkjos wgrg mdgqumtg cjr plgmdkob crmud5
Rgst gt tnmt spgikckikty rgqukrggot/ Yng mllgbgd quktg spgikckimlly tnmt Inmsg Fm
mdg ksrgprgsgotmtkjos ko tng Trkml Qlmo Mbrgggot, ko tng MprklY, 61=1 lgttgr, mod ktglgpnjog ijocgrgoigs jo Mprkl > mod @my 64, 61=1/ Fjtn tng Trkml Qlmo Mbrgggot mo
tng Mprkl 7 lgttgr wgrg mttmingd tj tng tnkrd mgodgd ijplmkot/ Tng Trkml QKm
Mbrgggot wms sgot tj Rgst jo Euly 64, 611; fy m Rmsnkobtjo @utuml ljmo wjrhju
spgikmlkst kdgotkckgd ms Vussgll Fuglom/
Rgst mllgbgd tnmt, ko tng MprklY, 61=1 lgttgr, Inmsg Fmoh cmlsgly rgprgsgotgd tnmt kt wjul
rggvmlumtg ngr imsg mod sgod ngr tng OQS koput dmtm kc sng sj rgqugstgd wktnko 91 dmys/
Tng Mprkl 7 lgttgr ks crj tng Inmsg Culckll got Igotgr mod, tnjubn tng lgttgr djgs oj
kdgotkcy tng prgpmrgr, Rgst dkd ojt nmvg tj plgmd tnmt kocjrmtkjo fgimusg kt wms uokqugl
wktnko Inmsg Fmoh"s hojwlgdbg ////
Rgst mllgbgd tnmt jo Mprkl >, 61=1, sng spjhg wktn m supgrvksjr ko tng ljmo jdkckimtkj
dgpmrtgot jc Inmsg Fmoh, mod, jo @my 64, 61=1, spjhg wktn sjgjog ko tnm
dgpmrtgot/ Yng spgikckimlly dgsirkfgd tng ksrgprgsgotmtkjos mllgbgdly mdg durko
tnjsg ijocgrgoigs mod mllgbgd tng ksrgprgsgotmtkjos wgrg ijuokimtgd fy tglgpnjog/
Yng mllgbgd tnmt, ko m tglgpnjog imll jo @my 64, 61=1, m Inmsg Fmoh rgprgsgotmtkvg tjl
ngr sng &ijuld rgsufkt ngr updmtgd ckomoikml dmtm cjr rg-gvmlumtkjo cjr NM@
jdkckimtkjo sjlutkjos, mod tnmt tngrg wms oj cjrgiljsurg smlg dmtg jr smlg singdulgd/"
.Fjldcmig # uodgrsijrkob jkttgd/+ Ngr mllgbmtkjo jc tng pgrsjos wnj mdg tng mllgbg
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ksrgprgsgotmtkjos wms succkikgot tj bkvg ojtkig tj Inmsg Fmoh jc tng inmrbgs/ Tn
L kdgotkckimtkjo jc tng Inmsg Fmoh gpljyggs wnj spjhg wktn Rgst jo tnjsg dmtgs ks 0
snjuld fgwktnko Inmsg Fmoh"s hojwlgdbg/
4
G Rgst v/ EQ@jrbmo Inmsg Fmoh, O/M/ .61=9+ Z Iml/Mpp/4tn Z, Z, 61=9 Iml/ Mpp/ LG^KY 612,=>
G =;/
{
= =
Vgbmrdkob m ilmk` cjr ijoigml got, mfmoh duty tj ojtkcy mfjrrjwgr, & "my fg dkrgitly k pjsg
fy stmtutg jr jtngr prgsirkptkvg lmw8 kt my fg vjluotmrkly mssugd fy ijotrmituml uodgrtmhkob8 k
my mrksg ms mo koikdgot jc m rglmtkjosnkp fgtwggo tng dgcgodmot mod tng plmkotkcc8 mod kt rom
mrksg ms m rgsult jc jtngr ijoduit fy tng dgcgodmot tnmt mhgs kt wrjobcul cjr nk` tj rgmksklgot/"& YII Miquksktkjos Koi/ v/ Igotrml Qmikcki Fmoh .61=6+ 612 Iml/MppMtn >7;,>34/
G
= I
= k
=~
=G
Curtngr, m tgodgr ks ojt rgqukrgd, &wngo tng lgodgr nms ojt ygt cjrgiljsgd mod nms mllgbgdl
vkjlmtgd lmws rglmtgd tj mvjkdkob tng ogigsskty cjr m cjrgiljsurg/& Qcgkcgr v/ Ijuotr wkdg Nj
Ljmos .61=6+ Z Iml/MppMtn Z, Z, 61=6 Iml/ Mpp/ LG^KY =637, 3= .ijplmkot succkikgotl
mllgbgd lgodgrs" cmklurg tj ijply wktn tng NWD rgbulmtkjos tnmt ijuld mvjkd mcjrgiljsurg+/
=6
= 4
=G
=
6 I
&Ko jrdgr tj survkvg m jtkjo tj strkhg mo mllgbmtkjo jc puoktkvg dmmbgs, tng ultk mtg cmit
snjwkob mo gotktlggot tj suin rglkgc ust fg plgd fy mplmkotkcc/& Ilmusjo v/ Yup/ It/ .=;;>+ 3
Iml/ Mpp/ 4tn =679, =677/ Miijrd Ypkohs v/ Gqukty Vgskdgotkml Frkmrwjjd Mpmrtgots .611;
=2= Iml/ Mpp/ 4tn =114, =1778 Flgbgo v/ Yup/ It/ .=;>=+ =67 Iml/Mpp/9d ;7;, ;36/
6~
Ms cjr puoktkvg dmmbgs, ijplmkomots ust mllgbg mod prjvg mo uodgrlykob tjrtkjus mit, mod
ijbokzmflg rgijvgry/ @iLmubnlko v/ Omtkjoml Wokjo Ckrg Kos/ Ij/ .=;;4+ 69 Iml/MppMtn ==96
==34/ Ygg mlsj Fjsgttk v/ W/Y/ Lkcg Kos/ Ij/ ko Ikty jc O/[ / .611;+ =27 Iml/MppMtn =61>, =64
.&Ms W/Y/ Lkcg ks gotktlgd tj su mry mdeudkimtkjo jo mll /// tjrt imusgs jc mitkjo, ngr ilmk` cj
puoktkvg dmmbgs ust cmkl ms wgll/&+/
6=
6L
64
67
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4
Njo/ Mfrmnm Hnmo
Yupgrkjr Ijurt Eudbg
Ogxt, gvgo wnjlly uosuppjrtgd mttjrogys" cggs mllgbmtkjos oggd ojt fg strkihgo pursumot tj m
6 jtkjo tj strkhg, skoig lmtgr dksijvgry my rgvgml mfmsks cjr tngkr rgijvgry/ Imgoksin v/ YuQ/
It/ .=;;3+ 44 Iml/Mpp/4tn =3>;, =3;;/ &Tngrg ks oj rgqukrggot tnmt m pmrty plgmd tnmt kt ks
G
G
sgghkob mttjrogy cggs, mod tngrg ks oj rgqukrggot tnmt tng brjuod cjr m cgg mwmrd fg spgikckgd ko
tng plgmdkobs/& [mssko v/ Yjlks .61=1+ =>4 ImLMpp/4tn 764, 799/ Miijrd Yomtinhj v/
Rgstckgld LLI .61=1+ =>2 Iml/Mpp/4 tn 43;,4;2 .grrjr tj strkhg mttjrogy cggs sjubnt uodgr Ijdg
jc Ikvkl Qrjigdurg Ygitkjo =16=/7, fgimusg tngrg ks oj plgmdkob rgqukrggot kovjlvgd/+8 ]nll`
v/ H@V Qrjpgrty @mombggot .611>+ =33 Iml/Mpp/4tn =27, =;4 .&Rg mbrgg tnmt tng ijplmkot
oggd ojt koiludg m prmygr cjr mttjrogy cggs, mod tnmt dug prjigss ks smtksckgd fy ojtkig tj tng
jppjskob pmrty jctng jtkjo cjr mttjrogy cggs/&+/
K
G
~
= I Ckomlly, eudkikml ojtkig jc tng ijotgots jc m dgilmrmtkjo jc ijplkmoig wktn Ikvkl Ijdg Ygitkjo6;69/7 .rgbmrdkob dklkbgoig tj ijotmit fjrrjwgrs tj gxpljrg cjrgiljsurg mltgromtkvgs+, ijuld ojt
fg tmhgo, wngrg tng ijplmkot mllgbgd tnmt tng dgilmrmtkjo ks cmlsg, mod tng cmits mssgrtgd ko tng
dgilmrmtkjo mrg rgmsjomfly sufegit tj dksputg/ Ygg Kotgobmo v/ Fmi Njg Ljmos Ygrvkikoll LK
.61=9+ Z Iml/Mpp/4tn Z, Z,61=9 Iml/ Mpp/ LG^KY 667, =>-=;,67 .jrdgr sustmkokob tng dgurrg
rgvgrsgd ms tj imusg jc mitkjo cjr wrjobcul cjrgiljsurg fmsgd jo mllgbmtkjos jc ojoijplkmoig
wktn Ygitkjo 6;69/7+/
= =
= 58
=~
=~
= t
=G
= =
=
= Y Dmtgd5 4*9*=9
6 I
6 =
6 5 8
6 ~
6 4
6 t
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