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» VISIT US ONLINE @ DSNEWS.COM 9 VALUE ADDED SERVICES Property Maintenance Cleaning Services Landscaping Pools: Service/Repair Rehabs Tree Removal Remodels Plumbing Services Electrical Garage Doors Repair Services Eviction/Re-Key Services Foundations Interior & Exterior Painting Flooring Sales & Installation Roofing A/C & Heat Pest Control Appliances Investor Services Property MGMT Services Builder's Warranty Services Emergency Services Board Up/Roof Tarp Insurance Restoration Water Mitigation/Fire Demo's Service areas inclusive of, but not limited to: TX, OK, TN, GA, MS, LA, AR, AL, Truly Noble Services, Inc. | www.trulynobleservices.com | (855) 898-2455 We've honed our skills for over 25 + years as a leading services provider in property preservation, rehabs, and repairs. Our commitment to bringing quality and consistency of services to the forefront shows in our dedication to training and constant technology updates to ensure our customers that we will be there for future support in services. All this commitment has laid the foundation for our long term success. From real estate agents to corporate clients who need anything from property maintenance to remodeling, we will show you why Truly Noble Services has earned the reputation as the service provider of choice. Where Servicing and Property Services Meet PROUD TO BE A VETERAN OWNED AND OPERATED BUSINESS American Mortgage Diversity Council Where Diverse Groups Share Common Goals. CITIES MAY SUE BANKS OVER FORECLOSURES, INDUSTRY REACTS In a 5-3 decision on May 1, the U.S. Supreme Court determined that cities can sue banks over lost tax revenue on foreclosed properties from urban blight. Law360 reported that Miami has the standing to sue Bank of America Corp. and Wells Fargo & Co. under the Fair Housing Act (FHA), stating that the banks' discriminatory and predatory lending practices led to a major shortfall in city tax revenues. e final ruling is not up to the high court, however, as the Supreme Court sent the case back to the 11th District in order to determine whether the banks' lending practices were "proximate cause" for the damages. Law360 reported that all eight justices rejected the probable cause argument. "e ruling is clearly a concern for lenders who believed cities did not have sufficient standing in order to assert claims that are more appropriate to be brought by the ultimate aggrieved parties, which should be the borrowers, assuming, of course, the allegations are true," said Shaun K. Ramey, Shareholder of Sirote and Permutt, P.C. "at being said, although the court granted cities the right to file suit, they set a high bar for proving proximate causation, so the impact of the Supreme Court's decision may not be as broad as it appears at first blush." e court found that the city's claims fell within the "zone of interests" established by the FHA, which means that Bank of America's and Wells Fargo's practices led to decreases in tax revenue and increased costs for maintaining foreclosed properties. "e city will be required to show that the claimed damages were 'proximately caused' by the violation of the FHA," said Roy A. Diaz, Managing Shareholder of SHD Legal Group. "e court recognizes that Congress did not intend the FHA to provide a remedy for 'ripples of harm' that may flow from a violation of the FHA. e majority establishes that the FHA requires some direct relation between the injury asserted and the conduct alleged." Justice Clarence omas dissented, saying the FHA does not allow for expanded claims. "Nothing in the text of the FHA suggests that Congress was concerned about decreased property values, foreclosures, and urban blight, much less about strains on municipal budgets that might follow," he said. e banks will not be held liable until the 11th Circuit can determine whether the bank's actions have caused the foreclosures. "e 11th Circuit grounded its decision on the theory that proximate cause under the FHA is 'based on foreseeability alone. We therefore lack the benefit of its judgment on how the contrary principles we have just stated apply to the FHA. Nor has any other court of appeals weighed in on the issue," the majority opinion said.

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