Significant Changes to California's Mechanics Lien Law Coming July 1, 2012 by Pillsbury Winthrop Shaw Pittman LLP on 5/17/2012 Effective July 1, all of the existing statutes governing mechanics liens, stop notices and payment bonds in California will be repealed and replaced by updated statutes. In September 2010, Governor Edmund G. Brown, Jr....more
Bankruptcy Court in Illinois Holds that a Mortgage is Avoidable in Bankruptcy if the Mortgage as Recorded Does Not State the... by Reed Smith on 5/16/2012 In a decision that potentially has serious implications for mortgage financing transactions in Illinois, the Bankruptcy Court for the Central District of Illinois recently held that a mortgage is avoidable in bankruptcy if it...more
Eviction Of Tenant Without Cause From Low Income Housing Which is Government-Subsidized But Privately Owned Violated Tenant’s... by Kronick, Moskovitz, Tiedemann & Girard on 5/15/2012 A court of appeal found that a tenant of a privately owned low income, government-subsidized housing was deprived of a protected property interest when the property manager evicted a tenant at the conclusion of her lease...more
HUD Announces Another Mortgage False Claims Act Settlement by BuckleySandler LLP on 5/15/2012 On May 10, HUD and the U.S. Attorney for the Southern District of New York announced the settlement of a lawsuit alleging violation of the False Claims Act by a mortgage originator and affiliated entities. The government...more
Fourth Circuit TILA rescission decision adopts CFPB position by Ballard Spahr LLP on 5/9/2012 In an opinion issued on May 3, 2012, the U.S. Court of Appeals for the Fourth Circuit has held that a lawsuit seeking rescission is timely where the consumer provided notice of rescission within three years of closing but did...more
HB1013 Effective July 1, 2012 - Governor Scott and Florida Legislature Tell Florida Appellate Court No Dice on Extending Implied... by Rosa Eckstein Schechter on 5/9/2012 HB1013 in the Florida Legislature has been closely monitored by many in the Florida real estate industry (check out our earlier post from February 2012 for details) and now, it's a done deal....more
Borrower May Sue after Three Years To Rescind Mortgage Loan, 4th Circuit Rules by Ballard Spahr LLP on 5/8/2012 In a decision that possibly opens the door for renewed foreclosure delays, the U.S. Court of Appeals for the Fourth Circuit has held that a lawsuit seeking rescission is timely where the consumer provided notice of rescission...more
Dealing with Mechanics’ Liens by Sands Anderson PC on 5/8/2012 Henry Spalding, an attorney in the Sands Anderson Risk Management Group, recently published the following article in the Virginia Homebuilder’s Newsletter: Filing and enforcing a mechanic’s lien can be a strong and...more
Asset Management Fund Sues Morgan Stanley In Connection With Sale Of $122 Million in RMBS by Orrick, Herrington & Sutcliffe LLP on 5/8/2012 On May 2, 2012, mutual fund Asset Management Fund and related affiliates filed a summons with notice to commence an action against Morgan Stanley in the Supreme Court of the State of New York seeking $122 million in...more
Federal Appeals Court Finds Plaintiff States FDCPA Claim Against Servicer, Creditor When Acquiring Debt Purportedly in Default by BuckleySandler LLP on 5/7/2012 On April 30, the U.S. Court of Appeals for the Sixth Circuit held that a mortgage servicer and a creditor can be sued as a debt collector under the Fair Debt Collection Practices Act (FDCPA) when acquiring a debt in default...more
Risk of Landlord Liability Rises in Pit Bull Attack Cases by Ballard Spahr LLP on 5/4/2012 Maryland landlords beware: the state’s highest court has made it much easier for victims of attacks by pit bulls or pit bull mixes to win judgments — not only against the dog’s owner, but also against any landlord that allows...more
What should I do if I dispute the amount that I owe to a creditor? by George Bourguignon on 5/4/2012 If you believe that a creditor is collecting an amount that is wrong or for a debt that is not owed by you, then you want to read this post and find out one new tool available for Massachusetts consumers. Contact: George E....more
Tenants Win in Supreme Court Ruling on Rent Control by Lawyers.com on 5/3/2012 In a victory for tenants, the U.S. Supreme Court has let New York City’s hallowed rent stabilization law stand, refusing to hear an appeal by the landlords of two townhouses on West 76th St. who challenged the...more
Real World: An Update from Dechert's London Finance & Real Estate Group - May 2012 by Dechert LLP on 5/3/2012 Welcome to the Spring edition of Real World from Dechert’s London Finance and Real Estate Group, keeping you up to date with recent developments in real estate law and practice. I hope you like our new user-friendly format,...more
Fannie Mae Alters Policies for Preforeclosure Sale Process, Delinquency Management, Default Prevention by BuckleySandler LLP on 5/2/2012 On April 25, Fannie Mae issued Servicing Guide Announcement SVC-2012-06, which sets new policies and clarifies several delinquency management and default prevention requirements related to (i) electronic submission of...more