David Thomas

David Thomas

Dinsmore & Shohl LLP

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West Virginia Bankruptcy Courts Split on When Foreclosure Sale is Final

Lenders that exercise their rights to foreclose upon collateral are often met with a bankruptcy filing near or shortly after the date of sale. Obviously, if a lender learns of a bankruptcy prior to the foreclosure, the sale...more

3/17/2014 - Consumer Bankruptcy Foreclosure Mortgages

Mortgage Servicers Must Adopt Policies and Procedures For Dealing with Loans upon the Death of a Borrower

On October 15, 2013, the Consumer Financial Protection Bureau (“CFPB”) issued a bulletin providing guidance on certain mortgage servicing rules which are to take effect on January 10, 2014 under the Real Estate Settlement...more

11/19/2013 - CFPB Loans Mortgages RESPA TILA

Practical Considerations for Dealing with OREO Properties: Part II - Post-Sale Considerations

In the Summer issue of the West Virginia Banker Magazine, we discussed certain factors that banks should consider before taking ownership of real estate collateral at a foreclosure sale. Once taken into a lender’s inventory,...more

10/11/2013 - Abandoned Property Ejectment Eviction Foreclosure Holdover Occupants Lenders OREO Properties Tenants Unlawful Detainer

Practical Considerations for dealing with OREO Properties - Part I – Pre-Sale Considerations

It is common for banks to become the owners of properties that once secured their loans by virtue of making credit bids at foreclosure sales. These properties are commonly referred to as “OREO” (Other Real Estate Owned) in...more

8/26/2013 - Banks OREO Properties

New Mortgage Servicing Rules Affecting Community Banks

The Consumer Financial Protection Bureau (CFPB) issued new Mortgage Servicing Rules that will take effect on January 10, 2014. These rules apply to any “closed-end consumer credit transaction secured by a dwelling.” The new...more

8/14/2013 - Banks CFPB Community Banks Mortgage Servicing Rules Mortgages

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