Tamara Burns  |  May 19, 2016

Category: Closed Class Actions

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This settlement is closed!

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Bank of America logo

A settlement has been reached with Bank of America and a pair of class action lawsuits alleging the financial corporation violated New York property laws.

Two lawsuits filed against BofA allege that the bank neglected to present documentation that their mortgages had been fully satisfied (lien release) to the recording officer in New York State.

This action allegedly violates the New York Real Property Actions and Proceedings Law § 1921 and New York Real Property Law § 275. The number of individuals affected by this issue since July 12, 2010 is estimated to be in the thousands.

Bank of America has continued to deny the allegations set forth in the claims and asserts no wrongdoing. Both parties worked together to come to a settlement. BofA said it entered the settlement to avoid the risk, expense and delay of continuing with litigation.

The settlement has received preliminary approval for $6.2 million. Class Counsel will receive attorneys’ fees of up to $1.5 million and $20,000 for reimbursement of costs and expenses occurred.

Eligible Class Members will receive a minimum of $180 up to $780, as part of their settlement.

Class Members who wish to object or exclude themselves from the settlement must do so by June 30, 2016.

Who’s Eligible

Class Members are defined as:

All persons and/or entities who were the mortgagor party to a residential mortgage on real property located in New York State serviced by Bank of America for which all authorized principal, interest and all other amounts due or otherwise owed by law was completely paid between July 12, 2010 and November 27, 2015, but Bank of America failed to present a certificate of discharge or satisfaction of mortgage within 30 days to the recording officer of the county where the mortgage was recorded (the proposed ‘Settlement Class’). Serviced means that Bank of America acted as (a) the entity to which payments under the residential mortgage were required to be made or (b) such entity’s personal representative, agent, successor or assign.”

Potential Award

$180 – $780 depending on individual mortgage circumstances

Proof of Purchase

Eligible Class Members were mailed a Notice of the proposed settlement with a unique identification number. A valid Claim Form must be submitted with the identification number.

If you did not receive a Notice and believe you are eligible, or if you misplaced your Notice, you may visit the settlement website to verify your status or contact the Settlement Administrator at 1-866-800-6756.

Claim Form

CLICK HERE TO FILE A CLAIM »

Claim Form Deadline

UPDATED July 21, 2016

07/18/2016: For class members who received the initial postcard mailed on April 18, 2016

10/13/16: For newly identified class members who received the supplemental postcard notice mailed on July 19, 2016.

Case Name

Denise Jaffe and Daniel Adler v. Bank of America N.A., Case No. 13-cv-04866-VB, in the U.S. District Court for the Southern District of New York.

Dereck Whittenburg and Jacqueline Whittenburg v. Bank of America N.A., Case No. 14-cv-0947-VB, in the U.S. District Court for the Southern District of New York.

Final Hearing

07/20/2016

Settlement Website

www.NYLienSettlement.com

Claims Administrator

NY Lien Settlement
Settlement Administrator
PO Box 2995
Portland, OR 97208-2995
1-866-800-6756

info@NYLienSettlement.com

Class Counsel

D. Gregory Blankinship
FINKELSTEIN, BLANKINSHIP, FREI-PEARSON & GARBER, LLP

Defense Counsel

Christine Cesare
BRYAN CAVE LLP

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9 thoughts onBank of America Mortgage Lien Release Class Action Settlement

  1. melodie hamilton says:

    I sure wish this would have been in Arizona I cannot get Bank of America to release the lien on half of a mobile that has been paid off since 2005 we fought with them throughout most of 2010 and they said they had released the liens on both halves and one clear title came but apparently they kept the lien in place on the other half. I have tried to get them to release it but as of yesterday they sent a letter saying they sold or transferred the lien and refuse to tell me to whom. So I am loosing the sale on my home and will not be able to ever sell it since no attorney will fight Bank of America and the federal government agencies do nothing except take your information. This is illegal in AZ as they only had 15 days to release the lien after payoff according to law. But if you don’t have deep pockets to pay out to attorneys to get justice it will not happen.

  2. Sharah Hendershot says:

    Is there a Class Action settlement against Bank of America for properties in Maine?

    I sold my home in June 2012. I just received a copy in the mail on 8/28/17 of the Discharge of Mortgage on that property that was just completed by BoA on 8/15/17. Over 5 years from when I sold the property.

  3. Barbara Peterson says:

    I was not notified about the class-action suit I see the deadline so would this be open again

  4. Rachel Parks says:

    What about the other states?

    1. Maria Hernández says:

      Que hay de la Demanda en LA Suprema Corte de California contra Los Principales Bancos, hecha por Larry Brown..

  5. Tammy Pierce says:

    Those of you in florida if you are wronged take it to Attorney General Bondi and she will listen to you! She cannot do a case on your behalf but can file on the behalf of many or send your case to the right florid dept. she has done that for me!!!! go to her website and file a complaint!!!

  6. Top Class Actions says:

    UPDATE July 21, 2016: The claim for deadline is October 13, 2016 for newly identified class members that received the supplemental postcard notice mailed on July 19, 2016.

  7. Anne-Marie Henderson says:

    The problem in Florida are the lawyers. Bruce Stern’s business has been taken over by Kass, Shuyler, etc in Tampa. file content://media/external/file/5162d a foreclosure after it was judged dismissd. Corruption in Floida goes up to the Judges. As a victim of financial extortion by Pavese lawyers changing internal records, public records and my check to file fabricated SLAPP sites in Lee County. My home in L.A. CA was bombed 2005 by professionals after I spoke before CCCity Council in FL. exposing Illegal zone changes. I.D..fraud by Magistrate with Keith Hagman Pavese.partner.using another woman’s case for child support to Take my properties Under Color Of Law. No justice. Corruption.of legal system by lawyers.make foreclosure claims without Bank knowledge. Rampant crimes.

  8. Marco says:

    I am a U.S> citizen I Have A right to submit a claim I have been a customer OF BOA for too many years….help me JUDGE>>>these lawyers are crazy….JUST AND FAIR COMMENT…..MARCO

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