Administrative Agency Residential Real Estate Bankruptcy

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Trust Me – A Security Trustee’s Duties to Subordinated Creditors Examined

The recent judgment of Saltri III Ltd v MD Mezzanine S.A. Sicar & Ors1 relates to the 2010 non-consensual restructuring of the Stabilus Group. The judgment provides a helpful overview of the way fiduciary relationships...more

Fannie Mae and Freddie Mac Announce New Guidelines for Management of Law Firms

On November 9, Fannie Mae and Freddie Mac announced new, coordinated requirements with respect to the management of law firms for default servicing, bankruptcies, and related litigation. ...more

A New Kind of PIN: Essential Requirements for Recording Deeds of Trusts in North Carolina

The Fourth Circuit Court of Appeals recently ruled in the case of In Re: McCormick that a recorded North Carolina deed of trust indexed in a county’s grantor/grantee index may nevertheless be avoided by a trustee in...more

California Authorities Consider Seizing Mortgages Secured by Residential Properties

It’s no secret that California has been hit harder than most states by the housing crisis. Just east of Los Angeles, the county of San Bernardino has cities with some of the highest foreclosure rates in the U.S. On July...more

CFPB: Re-Opening "Ability-to-Repay"

On June 5, 2012, the Consumer Financial Protection Bureau (Bureau) announced that it is "reopening the comment period" for the proposed rule, issued on May 11, 2011 by the Federal Reserve Board (Board), addressing the new...more

InfoBytes Special Alert: Federal and State Officials File Settlement with Nation's Five Largest Mortgage Servicers

On March 12, 2012, Federal and state officials filed documents in the United States District Court for the District of Columbia formalizing a previously announced settlement (the Settlement) of various government probes into...more

Attorneys General Complaint on Mortgage Practices

On March 12, a complaint was filed in the U.S. district court for the District of Columbia by the DOJ and the attorneys general of 49 states and the District of Columbia against Bank of America, JPMorgan Chase, Wells Fargo,...more

Foreclosing Lenders Beware

A new decision from recently appointed bankruptcy judge Mark S. Wallace should be of serious concern to lenders foreclosing non-judicially. Judge Wallace, who sits in the Santa Ana division of the U.S. Bankruptcy Court for...more

InfoBytes, September 2, 2011 - A Weekly In-depth review of news & developments in the financial services industry

Topics In This Issue • Federal Issues • Courts • Miscellany • Firm News • Firm Publications • Mortgages • Securities • Litigation • Privacy/Data Security Excerpt from "Courts" Bankruptcy Panel...more

Overhauled Massachusetts Homestead Law Effective March 16, 2011

On December 16, 2010, Governor Deval Patrick signed a complete overhaul of the Massachusetts homestead statute. It is codified as M.G.L. c.188, as amended by Chapter 395 of the Acts of 2010. The new homestead statute takes...more

How Does Bankruptcy Affect Your Eligibility for HAMP? The Home Affordable Modification Program

Many homeowners applied for HAMP modifications in hopes of avoiding bankruptcy. But then they discovered that mortgage servicers are horribly slow in processing the paperwork. Plus, the mortgage companies will not even...more

State Regulatory Workshop: Legal and Regulatory Compliance Challenges and Opportunities for Credit Counseling Agencies

Introduction: *What do Changes on the Federal Level Mean for State Law Compliance? – Dodd-Frank / Consumer Financial Protection Act • Bureau of Consumer Financial Protection – Proposed Debt Settlement Legislation –...more

No Creditors' Rights Endorsement - Alternatives

Now that the American Land Title Association ("ALTA") has withdrawn the ALTA Form 21-06 Creditor's Rights Endorsement, what steps can a lender take to protect itself? To recap, the Creditors' Rights Endorsement provided...more

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