Civil Remedies Residential Real Estate Finance & Banking

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Appellate Court Reverses Course on Lis Pendens Effect on Post Judgment Liens

UPDATE: On rehearing, the appellate court held that all liens placed on property between a final judgment of foreclosure and judicial sale are discharged by Florida statute. Specifically, the court recognized that the sale...more

Ohio Court Compels Plaintiffs to Respond to Interrogatories Regarding the “Contours” of the Putative Class

In a reversal of the usual scenario where a plaintiff seeks and a defendant resists class discovery, the Southern District of Ohio granted a defendant’s motion to compel answers to its interrogatory regarding who was included...more

Real Property & Title Insurance Update: Week Ending January 20, 2017

REAL PROPERTY UPDATE - Foreclosure/Vacating Judgment: estate failed to either allege or prove any basis under Rule 1.540 to vacate final judgment of foreclosure to which it had consented – The Bank of N.Y. Mellon v....more

Letter Warning of Lien Recordation Subject to FDCPA, Ninth Circuit Holds

A law firm's letter, warning that a lien would be recorded against a woman's home if she failed to pay her annual homeowners association fees, is not exempt from the Fair Debt Collection Practices Act (FDCPA) as an attempt to...more

Second Circuit Affirms Dismissal of Mortgage-Backed Securities New York State False Claims Act Case Against Wells Fargo

In New York ex rel. Jacobson v. Wells Fargo National Bank, N.A., 824 F.3d 308 (2d Cir. 2016), the Second Circuit affirmed the dismissal of a relator’s tax fraud-based claim against Wells Fargo under the New York False Claims...more

DOJ Files Lawsuit Against Minnesota Bank Over Alleged Minority Redlining Practices

On January 13, 2017, the Department of Justice (“DOJ”) announced that it had filed a lawsuit against a Minnesota bank, stemming from allegations that the bank engaged in illegal “redlining” of minority neighborhoods in the...more

Everything You Need To Know About Florida Deficiency Judgments – Part I

A mortgage judgment in Florida does two things – it sets the amount owed to the lender, and it orders the sale of the mortgaged property and applies the proceeds to pay down the debt. Where the sale proceeds are insufficient...more

Australian case update: Tiuta International Ltd v De Villiers Surveyors Ltd

SNAPSHOT - In Tiuta International Ltd v De Villiers Surveyors Ltd [2016] EWCA Civ 661, the English Court of Appeal delivered an important judgment in favour of lenders in a valuer’s negligence case, which has...more

Banking & Financial Services E-Note - November 2016

Employers across the country can now exhale. On Tuesday, November 22, 2016, a Texas federal court entered a nationwide injunction blocking the U.S. Department of Labor’s (“DOL”) new federal overtime rules from taking effect...more

Real Property & Title Insurance Update: Weeks Ending November 18 & 25, 2016

REAL PROPERTY UPDATE - Settlement/Waiver: borrowers permitted to raise affirmative defenses and counterclaims against lender where subject Loan Modification Agreement failed to include waiver of claims, affirmative...more

Bourne Valley Redux

The dispute between lenders and the purchasers at homeowners’ association foreclosure sale regarding superiority of title has embroiled the State of Nevada since at least as early as 2012. Since the issue rose in volume and...more

Client Alert: Florida Supreme Court Rules that Dismissal of Foreclosure Action Returns Parties to their Pre-Foreclosure Action...

The Florida Supreme Court issued its long awaited decision in Bartram et al. v. U.S. Bank NA, case number SC14-1265, on November 3, 2016, affirming the decision of the Fifth District Court of Appeals in U.S. Bank Nat. Ass’n...more

Real Property & Title Insurance Update: Weeks Ending October 21 & 28, 2016

REAL PROPERTY UPDATE: Condominium: allocation of square footage within the declaration controls where there is lack of clarity in both the perimetrical boundaries definition and the diagram of the lobby area in question...more

Slam on the Slam – A California Court Further Limits the Sham Guaranty Defense

There has been much recent California case law regarding the sham guaranty defense and for good reason – success for a guarantor on this defense can eliminate a lender’s recovery of a deficiency against a guarantor of a...more

Ninth Circuit Denies Motion to Dismiss and Motion to Stay Publication of Decision Holding Nevada HOA Super-Priority Lien Statute...

As we have previously covered in a series of blog posts, the Nevada Supreme Court held in September 2014 that Nevada Revised Statute chapter 116 allows homeowners’ associations (HOAs) to non-judicially foreclose on homeowners...more

Real Property & Title Insurance Update: Week Ending October 7, 2016

Foreclosure: debtor that agreed to “surrender” property in bankruptcy was required to surrender the property to the bankruptcy trustee and secured creditor, and lost right to defend secured creditor’s foreclosure action...more

Redlining Action Against BancorpSouth: The Department of Justice and the Consumer Financial Protection Bureau Join Forces

Late last year, the Department of Justice (“DOJ”) and the Consumer Financial Protection Bureau (“CFPB”) brought a joint action against Hudson City Savings Bank (“Hudson Bank”) for redlining. Hudson Bank, based in New Jersey,...more

Massachusetts AG Settles With Insurance Company Over Allegedly Improper Force-Placed Insurance

On September 7, 2016, the Massachusetts Attorney General announced a settlement with an insurance company requiring “refunds for Massachusetts homeowners whose mortgage lenders wrongly force-placed the consumers with [the...more

Equitable Subrogation Part Deux: Mechanic’s Lien vs. Later Bank Deed of Trust

This post follows, almost two years to the day, Rick Erickson’s post of August 29, 2014. As noted by Rick Erickson in his August 29, 2014 post, the Arizona Supreme Court in the Weitz case (2014) had determined that equitable...more

Spokeo Can't Help Bank Avoid $6.2M Settlement

Invoking the recent U.S. Supreme Court decision in Spokeo v. Robins, a federal court in New York held that a bank remained on the hook for a $6.2 million class action settlement. What happened - Plaintiffs were...more

Consumer Financial Services Newsletter - August 2016

Seventh Circuit Rules: Filing a Proof of Claim for Old Debt Is Okay — Circuits Split - Owens et al. v. LVNV Funding LLC et al., Nos. 15-2044, 15-2082, 15-2109 (7th Cir. Aug.10, 2016) - In Owens v. LVNV Funding LLC,...more

“Eviscerate” is the Proper Term for What the Ober Opinion Did to the Lis Pendens Statute—But What About Jurisdiction?

Florida’s 4th District Court of Appeal sent the real property and mortgage world into a frenzy this week after issuing its opinion in Ober v. Town of Lauderdale-By-The-Sea, dramatically weakening the protections of Florida’s...more

Most Recent CFPB Supervisory Highlights Feature FCRA, LO Compensation and Debt Collection Issues

The Consumer Financial Protection Bureau’s most recent supervisory highlights publication featured issues relating to the Fair Credit Reporting Act, loan originator compensation and in-person debt collection that should be on...more

Priority of Future Advances Under Idaho Deeds of Trust Now in Doubt

In Liberty Bankers Life Insurance Co. v. Witherspoon, No. 41993, 2016 WL 74987 (Idaho Jan. 6, 2016), the Idaho Supreme Court examined a loan modification agreement in which a lender agreed to release real property from its...more

Who is a Mortgage Broker? Just Ask the Fed.

The United States Court of Appeals for the Second Circuit recently affirmed a magistrate judge’s decision in the District Court for the Eastern District of New York to dismiss a complaint brought under the Truth in Lending...more

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