Schwartzbaum et al v. Emigrant Mortgage Company, No. 7:2009cv03848 - Document 25 (S.D.N.Y. 2010)

Court Description: OPINION AND ORDER re: 19 Report and Recommendations, 4 Motion to Dismiss filed by Emigrant Mortgage Company.... After reviewing de novo Plaintiffs' HOEPA claims, the Court finds that Plaintiffs provide no basis for alleging violations of HOE PA. The loan documents demonstrate that the loan does not qualify as a high-cost under HOEPA. The Court rejects Judge Smith's Report on this point, and dismisses Plaintiffs' HOEPA claims in their entirety. The Court reviews Judge Smith' ;s Report and Recommendation as it pertains toPlaintiffs' state law claims for clear error. The Court finds that there was no clear error in Judge Smith's recommendation that the Court deny Defendant's motion to dismiss the state law c laims of unconscionability, breach of contract, breach of implied contract, breach of duty of good faith and fair dealing, and deceptive practices under N.Y. Gen. Bus. Law 349. Judge Smith properly recommended the dismissal of Plaintiffs' claims of unjust enrichment and usury. The Court adopts Judge Smith's Report and Recommendation as to these state law causes of action. The Clerk of the Court is directed to term docket number 4. So Ordered. (Signed by Judge Stephen C. Robinson on 6/16/10) (fk)