Glenn Cline

Glenn Cline

Ballard Spahr LLP

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Maryland High Court Limits Liability of Assignee Lenders under State's Secondary Mortgage Loan Law

In a recent ruling, the Maryland Court of Appeals substantially limited claims of second mortgage loan borrowers under the state's Secondary Mortgage Loan Law (SMLL), holding that an assignee of a second mortgage is not...more

7/7/2014 - Assignments Borrowers Lenders Mortgages

Recent changes to Maryland foreclosure laws

Last month, Robert Scott, a partner here at Ballard Spahr, wrote about recent changes in Maryland foreclosure law. He explained the effect of a new law that requires a foreclosing lender to seek a deficiency judgment in its...more

6/12/2014 - Deficiency Judgments Foreclosure Mortgages

Supreme Court of Rhode Island Declares Usury Savings Clauses Void

For public policy reasons, the Rhode Island Supreme Court recently held that usury savings clauses are void and unenforceable. In NV One, LLC v. Potomac Home Capital, LLC, borrowers who had defaulted on their note filed a...more

2/28/2014 - Borrowers Commercial Loans Default Lenders Usury Void and Unenforceable

Federal Court Refuses To Dismiss Government’s Statutory Claims against Mortgage Originators That Allegedly Defrauded HUD

A federal judge recently rejected motions to dismiss in a suit in which the U.S. government alleged that two mortgage originators and their officers defrauded the Department of Housing and Urban Development (HUD) into...more

10/9/2013 - Fraud HUD Mortgage Loan Originators Mortgages

Statute of Frauds Bars Claims Seeking To Set Aside Foreclosure Sale Based On Oral Promises Related To Loan Modifications

The Fourth Circuit, in an unpublished opinion, recently held that an oral statement that borrowers should disregard notices of foreclosure sale while being considered for a loan modification is insufficient to set aside a...more

6/14/2013 - Foreclosure Loan Modifications Mortgages Statute of Frauds

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