HSBC Sued by NY A.G. Over Foreclosure Abuse

Today, the New York State Attorney General’s Office (AGO) announced that it has filed suit against HSBC Bank USA and HSBC Mortgage Corporation (USA) in NY State Supreme Court in Erie County. See THE PEOPLE OF THE STATE OF NY vs. HSBC BANK USA. The lawsuit states that HSBC is failing to follow state law related to foreclosure actions, thereby putting homeowners at greater risk of losing their homes.


In New York, loans for real property are secured through mortgages rather than through deeds of trust. New York, unlike trust states, is a judicial foreclosure state. In states like New York, mortgage foreclosure actions must proceed through the judiciary system.

Clearly, there are laws that govern the judicial foreclosure process and lenders are no exception to the requirement that these laws be followed. The New York State Unified Court System (UCS) issued a rule in October 2010 requiring that all foreclosure law firms attest to the accuracy of the legal papers they filed in court, in response to the widely reported robo-signing scandal in the mortgage industry. Since the implementation of the rule, after a foreclosure action is filed, the foreclosure firm must file an affirmation (the “Due Diligence Affirmation”) simultaneously with its filing of a Request for Judicial Intervention (RJI). The process mandates that the lender then attend a settlement conference within 60 days. Surprisingly, many foreclosure law firms almost immediately stopped filing RJIs after issuance of the court rule. Foreclosure law firms who refuse to file the RJIs not only run afoul of state law, but also significantly injure homeowners who want to save their homes.

A RJI is a very important instrument in the litigation process that transforms an indexed case wherein documents are filed to a case that now has a justice assigned to the matter. Without an RJI, New York courts do not schedule court-supervised foreclosure settlement conferences. Cases, in which complaints are filed but no RJI is filed—which would otherwise move the case forward by assigning a justice to the matter—often linger indefinitely on the “shadow docket”. The shadow docket in New York consists of thousands of foreclosure cases that linger for several months, and sometimes years, causing distressed homeowners and the overtaxed judicial system to suffer. A recent report indicates that a “re-review of the November 2010 and March 2011 residential foreclosure filings in Brooklyn and Queens reveals that 43% of cases remain in the shadow docket.”

While cases are on the shadow docket, delinquent interest, inspection fees, attorney’s fees, and other costs in addition to the mortgage, continue to accrue. In general, the larger a loan balance, the more difficult it is to attain an appropriate and affordable modification.


An investigation conducted by Attorney General Schneiderman showed that lenders HSBC Bank USA and HSBC Mortgage Corporation (USA) repeatedly failed to timely file the RJI in hundreds of foreclosure cases against New York homeowners, increasing the risk that those homeowners would lose their homes. A sampling of HSBC foreclosure filings from four counties — Erie, Monroe, Suffolk and Bronx — identified close to 300 instances where HSBC failed to file the RJI with the proof of service. In some of those cases, homeowners waited for over two years for HSBC to file the RJI.

“Companies like HSBC are brazenly ignoring state law, leaving homeowners across New York stuck in a legal limbo where they can’t even get the legally required settlement conference that could help them keep their homes,” said Attorney General Schneiderman. “For homeowners facing foreclosure, time is their greatest enemy. Every day spent waiting for a settlement conference is a day that the lender piles on additional interest, fees and penalties and the homeowner falls further behind. I am committed to doing everything I can to stand up for New Yorkers who are trapped in the ‘shadow docket’ and denied their right to fight for their homes.”

As a result of these findings, Attorney General Schneiderman filed suit seeking to compel HSBC to file the RJI immediately in all cases in which it has filed a proof of service, and to file an RJI simultaneously with proof of service in all future cases. In cases where HSBC has already failed to file the RJI with proof of service on the homeowner, the suit also seeks to compel HSBC to take the following steps to protect New York homeowners:

  • Prepare an accounting of interest charges, penalties and fees (e.g. late fees, inspection fees, attorney’s fees, broker reports) that accrued beginning 60 days after the filing of proof of service on the homeowner;


  • Toll and waive all accrued interest charges, fees and penalties that accrued, or will accrue, beginning 60 days after the filing of proof of service on the homeowner;


  • Grant restitution for interest charges, fees and penalties paid by the homeowner that accrued beginning 60 days after the filing of proof of service on the homeowner; and


  • Grant damages to homeowners injured by HSBC’s illegal practices.

Case Details

The presiding justice is Justice John L. Michalski. The index number for the instant action is 001660/2013. The attorney representing the AGO is James Morrissey. The RJI was filed on May 31, 2013. The AGO’s motion seeking the aforementioned relief was filed on June 3, 2013 and has a motion hearing date of July 24, 2013.


New York is undoubtedly well-represented. Attorney General Schneiderman is committed to prosecuting HSBC and any other lenders that deny New York homeowners their legal rights to negotiate alternatives to foreclosure. Schneiderman asserts that he will not hesitate to bring similar actions against other mortgage lenders who hold borrowers in the shadow docket in defiance of state law.

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Patent lawyers and patent law firms

Client protection is ensured by monitoring the licensing requirement and compliance with the licensing conditions as well as by cooperating with the competent authorities such as the Office of the Public Prosecutor and the professional association. The FMA may also file disciplinary charges with the Court of Appeal. The legal foundations are the Financial Market Authority Act (FMA Act) and the Patent Lawyers Act (PLA).
Monitoring of licensing requirement / Use of professional and business terms

Anyone intending to offer services under the Patent Lawyers Act in the Principality of Liechtenstein requires an FMA licence as a patent lawyer or patent law firm. The FMA monitors compliance with this licensing requirement and authorized use of the term “patent lawyer” or equivalent professional or business term. It follows up on all indications of non-licensed patent lawyer activities or the use of protected terms by non-licensed persons.

If there is a justified suspicion that a person is engaged in commercial patent lawyer activities without authorization or is unlawfully using the term “patent lawyer” or an equivalent professional or business term, the FMA initiates supervisory proceedings to determine the state of affairs. It may demand information and documents from the persons concerned as if they were supervised persons. If the suspicion is substantiated in the course of the preliminary clarifications, the FMA files criminal charges with the Liechtenstein Office of the Public Prosecut.
Monitoring of compliance with licensing conditions

After granting the licence, the FMA monitors permanent compliance with the licensing conditions. If there are grounds for suspicion that the licensing conditions are no longer met, the FMA initiates supervisory proceedings and seizes the necessary measures. If, for instance, it comes to the attention of the FMA that a patent lawyer or patent law firm no longer maintains the legally required liability insurance, then it demands that the licensed person provide evidence of such insurance. If the person fails to comply, the FMA suspends the person’s activities as a patent lawyer until the evidence is provided.
Disciplinary offenses

If the FMA believes that a patent lawyer is breaching the obligations of his profession or that his professional or private conduct is interfering with the honour, reputation and credibility of the profession, then it files disciplinary charges with the Court of Appeal.
Cooperation with competent authorities

To combat abuse, the FMA works closely together with the competent bodies (Office of the Public Prosecutor, courts, authorities and professional association). With the exception of national and international obligations to cooperate, the FMA in principle does not provide information about ongoing proceedings.
Institutions for the protection of clients

FMA: The FMA’s competence covers the points referred to above. In particular, it is not responsible for civil disputes between professional trustees and their clients.

Penal authorities: Charges filed with the Court of Appeal as the disciplinary court for criminal proceedings initiated against professional trustees in cases of crimes or misdemeanors (article 21(2) PLA)

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A Day in the Life of a Corporate Lawyer

Corporate lawyers ensure the legality of commercial transactions. They must have a knowledge of statutory law and regulations passed by government agencies to help their clients achieve their goals within the bounds of the law. To structure a business transaction legally, a corporate lawyer may need to research aspects of contract law, tax law, accounting, securities law, bankruptcy, intellectual property rights, licensing, zoning laws, and other regulations relating to a specific area of business. The lawyer must ensure that a transaction does not conflict with local, state, or federal laws. In contrast to the adversarial nature of trial law, corporate law is team-oriented. The corporate counsel for both sides of a transaction are not strict competitors; together they seek a common ground for their clients. They are, in the words of one lawyer, “the handmaidens of the deal.” Facilitating the business process requires insight into the clients needs, selective expertise, flexibility and most of all, a service mentality. Corporate law requires an incisive mind and excellent communication skills, both written and oral. Through the negotiation process, lawyers constantly write and revise the legal documents which will bind the parties to certain terms for the transaction. This process is lengthy and typically corporate lawyers work extremely long hours. As a deal moves towards its closing, it becomes an exercise in stamina as much as skillful negotiation. As one person observed, “The most important trait a lawyer can have is a leather-ass. You’ve got to be able to put your butt in a chair and do the work.” The upside to this profession is the compensation is good and you usually work with smart people. One corporate lawyer remarked that she liked this side of the law precisely because the transactions take place among peers: There is no wronged party, no underdog, and usually no inequity in the financial means of the participants.

Paying Your Dues

In law, the pressure starts early. Law school admission is extremely competitive-the top twenty-five schools have an admission rate of about 10%. You can get tracked early: The kind of school you attend affects what kind of summer job opportunities you may have, which in turn affects the kind of permanent job you secure. The starting salary and kind of experience you have as a corporate lawyer can vary greatly depending on the size of the firm and geographic location. In a smaller firm, you will have more responsibility and more client contact early on, but the salaries can be tens of thousands of dollars lower than in a large firm. The content of your practice will be different too: A small town lawyer may take care of a house closing, drafting a will and a divorce settlement in a day; big city lawyers can spend months negotiating one commercial transaction.

Present and Future

Thomas Jefferson introduced the first academic law program to the United States when he created a professorship in law at William and Mary in 1779. George Wythe, a Virginia judge at the time and, later, a signer of the Declaration of Independence, was the first to fill the post. Harvard was not far behind, and was already producing lawyers of repute in the mid-1700s. The number of corporate lawyers grew exponentially in the 1980s when commercial activity was at its peak. When the economy slowed down, so did the need for attorneys. The practice of corporate law is less cushy now; the days of the endless expense account are gone. The state of the economy always shapes the nature of corporate law; changes in the interest rates, the tax code, and other regulations affect the kind of transactions being done and how they are structured.

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Patent Law Firm In Brooklyn

Patent Law Firm In Brooklyn- All of the attorneys at this firm, in addition to receiving their law licenses, have outstanding technical and scientific expertise from leading academic and scientific institutions. Moreover, each attorney has successfully passed the arduous United States Patent and Trademark Office Patent Bar examination and is a registered patent attorney.

This is no small accomplishment. A small percentage of attorneys possess these remarkable qualifications, let alone are able to even qualify to sit for the Patent Bar. More laudatory, is the fact that the majority of the firm’s attorneys possess Big Firm experience and advanced degrees in addition to their Juris Doctor degrees. In addition to publishing and presenting on scientific and intellectual property topics, our attorneys have professional experience in the science and medical community. The exquisite combination of law and science, at a high level, requires a talented mind and a dedicated individual. The firm is proud of its members’ accomplishments and more pleased to offer these outstanding attorneys to its clients.

The firm provides full-service patent prosecution and litigation services to its clients. We invite you to enjoy patent practice at its best.
Mr. Sewell continuously distinguishes himself as a top intellectual property attorney. He is recognized as “Superb” and a “Top Intellectual Property Attorney” by the lawyer-rating service Avvo. Furthermore, Attorney Sewell is Chair of the Brooklyn Bar Association Intellectual Property Committee.


Web Site Here :
Address : 599 E. 2nd St. Brooklyn, NY 11218

Email ID :
Phone No : 347-787-6824

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Bar Association Chair and Vice-Chair

The LAW FIRM OF DAYREL SEWELL, PLLC is pleased to announce that Mr. Sewell is now appointed as Chair of the Brooklyn Bar Association Intellectual Property Committee and Vice-Chair of the Brooklyn Bar Association Real Property Committee.

Bar members are encouraged to join the Intellectual Property and/or Real Property sections. Several benefits of membership include Continuing Legal Education (CLE) classes, other professional development (i.e., networking), and social events.


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Address : 599 E. 2nd St. Brooklyn, NY 11218

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Phone No : 347-787-6824

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Chairman Bar Association Highlight

The LAW FIRM OF DAYREL SEWELL, PLLC is pleased to announce that Mr. Sewell’s recent, featured publication, The Ignominious Patent Troll, also prominently appears in the year-end publication of the Brooklyn Barrister.

The Brooklyn Barrister is the official publication of the Brooklyn Bar Association. Dayrel looks forward to continuing his leadership roles as Chair of the Brooklyn Bar Association Intellectual Property law Committee and Vice-Chair of the Brooklyn Bar Association Real Property Committee.


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Law Journal Publication: Landlords and Loft space

The LAW FIRM of DAYREL SEWELL, PLLC is pleased to announce that Mr. Dayrel S. Sewell, Esq. and Mr. Lance Willoughby penned an article entitled, “Landlords and Loft space” that is now published in the Richmond County Bar Association’s Spring 2017 Journal.

The Richmond County Bar Association (“RCBA”) was founded in 1909 to provide access to legal services for the Richmond County community. RCBA is dedicated to advancing members’ professional development and promoting the highest standards of excellence in the practice of law. RCBA journal first published in the spring of 1984.  The journal is published quarterly featuring legal articles, book reviews, product reviews or other items of interest to RCBA.

Landlords and Loft Space” discusses the complexities of the “NYC Loft Law.” The article provides the legislative history and intent for the creation of NYC Loft Law. Also, the article discusses the negatives and positives for landlords and tenants under the NYC Loft Law. The NYC Loft Law is unique and ought to be understood by those who possess and/or plan to possess loft interest.

This publication represents the continuation of our firm’s commitment to providing value to the greater NYC community and service excellence to our clients.

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Winner — Litigation Lawyer of the Year

The LAW FIRM of DAYREL SEWELL, PLLC is pleased to announce that Dayrel S. Sewell, Esq. has been selected as the outright winner and recipient in the category of – Litigation – Lawyer of the Year – USA by Finance Monthly.  Finance Monthly selection criteria is dynamic, relying on matters such as legal expertise and innovation; peer recognition and personal achievement; and involvement in significant legal cases and legal activity.

The Finance Monthly Law Awards 2017 recognizes the achievements of law firms, lawyers, barristers and those connected to the legal world who have a proven track record in delivering results for their clients over the past twelve months.  The awards are divided into individual and form categories.  Each category has been selected to represent the diversity of skills and knowledge that the profession has to offer clients across the globe.

The voting and nomination is inclusive consisting of a three-month process.  Voting procedures are sent to Finance Monthly’s readership database – over 195,880 contacts.  All readers evaluate the nominees based on all the Law Awards criteria. This accomplishment for Dayrel S. Sewell, Esq., by Finance Monthly – Law Awards, exemplifies innovation in client care; strategic thinking and planning; and superior qualifications.

The Finance Monthly is a trusted source for business and corporate professionals, specifically legal practitioners, either in-house counsel or private practice.

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The most common instances when you may need a real estate attorney

Real estate is one area that you will have to look into at some point in your life. You may be interested in buying property at a particular location, and there are a lot of legal details that need to verification before you make the final payment. That is just one area that you may require an attorney to represent you. The Law Firm of Dayrel Sewell is one of the best in real estate cases and deals hence you would be wise to consult them on any related issues. However, the real estate field is quite extensive and covers a lot of different areas. Explained are some of the cases when you would need an attorneys counsel in a given case.

  1. When purchasing or selling a home

A real estate attorney is useful when you need to sell or buy a home for many reasons. For the seller, they will provide you with directions on how to value your property and how to handle the legal details of the purchase depending on the state of your home. Intellectual property litigation Brooklyn is also useful if you are selling to someone who isn’t a local by ensuring that the process runs smoothly. As a buyer, the attorney will help you check whether all the legal ownership documents are in place. The lawyers also advise if you are buying a home with structural concerns which may pose a problem later on. All these are important areas to look at, and an attorney will help smoothen out any rough edges and concerns.

2. If you don’t want to deal with an agent

Real estate agents earn a very high commission for the homes that they sell. The amount of the fee may be passed indirectly to you, which may make any property that you are buying very expensive. However, with a real estate attorney, this is made easier as they can get the contacts of the seller and help you get a good deal. Intellectual property law attorney is also a good option if you don’t want to get your agent to assist you in buying a house as they may be expensive and unreliable.

3. If you want control over the whole process

Dealing with agents may sideline you from the entire buying or selling process which is where a real estate attorney becomes useful. You will have direct connection and communication to your intellectual property litigation Brooklyn lawyer about what you want hence giving you more power over the whole process. In the end, you will make a more informed decision with advice from your attorney than if you had opted not to get one.

4. If you bought property with some legal issues

If you made the mistake of not using an intellectual property litigation Brooklyn lawyer during the actual purchase of a house then you later found out that it has some legal issues, you should seek advice from an attorney. He or she will advise you on the steps that you can take to protect yourself and get what you deserve. Ensure that you choose seasoned lawyers such as those from The Law Firm of Dayrel Sewell since this is the only way you can be sure of winning the case and getting what is rightfully yours.

5. Making sense of loan documents

Once you have identified a house or property that you want to purchase, but you need a loan to do so, an attorney will be an asset for you. The intellectual property law Brooklyn attorney will assist you to understand where you stand on the credit list and how to ensure that you get the amount you want or as close as possible to that.

6. Drafting the contracts and signing

Before you sign anything presented to you by the seller, pass it through your intellectual property litigation Brooklyn attorney who will check if everything is in order. They are in a position to identify any loopholes in the contract that may cause a problem in future so ensure that you only sign after getting the go-ahead from your attorney. This will protect you from losing your property later on or even being sued if there were any legal issues with it.

The Law Firm of Dayrel Sewell is the best place to get seasoned intellectual property litigation Brooklyn attorneys that will assist in ensuring that you invest wisely. Do not risk your money by choosing to get into an agreement alone, contact the firm for advice from the best in the industry.

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What to look for in an excellent law firm

There are a lot of challenges mars the day-to-day life of a human being. Some of these are unintentional, but the consequences are often similar and just as harsh. One common way that causes people to conflict is on legal issues that involve their personal lives, businesses, and ownership of property. If this happens, you may find yourself in a court of law to defend yourself, and that is why you need a good attorney that will work towards clearing your name. There are many law firms in the country that all have good reputations but, here are reasons why you should choose the Law Firm of Dayrel Sewell among all the options that you have.

1. Excellent qualifications

It goes without saying that the litigation attorney that you choose should be qualified enough to handle the cases brought to him or her. Mr. Sewell is qualified with a Degree from John Hopkins University, Benjamin Cardozo School of Law and M.P.H from Columbia University. He has received numerous awards that recognize his work in the legal field which sets him at the top of the chain. All the attorneys under him are qualified, so you are assured that you will be working with the best team you can get.

2. Adequate Experience

Practice makes perfect, it is said, and this is more so true in the legal field. A good litigation attorney should have an excellent understanding of the law and have practiced it for a good number of years which allows them to handle different kinds of tasks. It is most likely that such a lawyer may have handled a similar case in the past which will make it easy for them to win. Mr. Sewell and the attorneys under him all have these qualifications which guarantee any client that no case will be too difficult to control.

3. Hands on experience

A lot of patent lawyers do not have direct contact with their customers who make it difficult to handle the case at hand efficiently. The situation is different when you are dealing with the Law Firm of Dayrel Sewell since all the attorneys will always establish a relationship with their clients so as to approach the case better. What this does is allow you, the client, to be honest with your attorney and allow him to formulate an excellent way to argue in court and guarantee you victory.

4. Track record

An attorney that has had a lot of successes in the cases that they have handled is one that is most likely to enable you to win your case. It is for this reason that for any patent, business or real estate cases, the firm under Mr. Sewell will be best for you. You can check their good track record for the very complex cases that the patent lawyers handled hence you can be certain that they have the expertise to take whatever you have for them.

5. Excellent court technique

It is not difficult to find a patent attorney who has excellent advice and ideas on how to handle the case but is indigent at arguing in court. A good plan is essential, but you should have an attorney that can execute it flawlessly. A patent case requires that the attorney presents their facts clearly and accurately if they are to have any hope of a victory. If you have a lawyer that cannot argue his case in court, you may lose a lot more than what you are paying them especially if the case involves a lot of money.

6. Moderately priced

It is no secret that litigation attorney fees are usually quite high, especially if you are looking to hire the best. However, this doesn’t have to be so as some law firms can give you great deals without sacrificing the quality of service that you get. Mr. Sewell’s law firm allows you to get quality attorney services without having to force you into bankruptcy compared to other law firms of the same level.

There is a reason why you should halt your search for a good litigation lawyer when you see the name of Law Firm of Dayrel Sewell. You are assured first class experience and services with top of the range lawyers that are ready to assist you clear your name from any legal case.

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