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D.C. Circuit grants CFPB’s petition for rehearing en banc in PHH case

The D.C. Circuit has entered an order granting the CFPB’s petition for rehearing en banc in the PHH case.  Because the order was issued per curiam, it does not indicate which of the active judges voted to grant the petition...more

Plaintiffs in another case challenging CFPB’s constitutionality move to intervene in PHH case

The plaintiffs in State National Bank of Big Spring, Texas, et al. v. Lew have filed a “Motion To Intervene In Any En Banc Proceeding That May Be Granted” in the PHH case. The motion follows the D.C. federal district court’s...more

Real Property & Title Insurance Update: Week Ending February 10, 2017

REAL PROPERTY UPDATE - Foreclosure: where foreclosing bank, who purchased debt from original mortgagee, failed to establish standing to enforce lost note “through evidence of a valid assignment, proof of purchase of the...more

Real Property & Title Insurance Update: Week Ending February 3, 2017

REAL PROPERTY UPDATE: Foreclosure/Sufficiency of Notice: although lender’s notice of default did not expressly state that property could be sold in foreclosure, it substantially complied with notice provision (paragraph...more

Nev. Supreme Court Holds HOA Foreclosure Statute Constitutional, Splits with Ninth Circuit

The Nevada Supreme Court has upheld the constitutionality of Nevada's pre-2015 statutory scheme for homeowners association (HOA) foreclosures. This decision contradicts the Ninth Circuit Court of Appeals' conclusion that the...more

Real Property & Title Insurance Update: Week Ending January 27, 2017

REAL PROPERTY UPDATE - Foreclosure/Lis Pendens: a proper reading of Florida Statute section 48.23(1)(d) is that “when a foreclosure action is prosecuted to a judicial sale, that sale discharges all liens, whether...more

D.C. Circuit denies motions to intervene in PHH case

The D.C. Circuit panel that issued the PHH decision last October has issued a per curiam order denying the three motions to intervene that were filed in the case last month....more

PHH opposes motion to intervene filed by Democratic lawmakers

PHH has filed a response in opposition to the motion filed with the D.C. Circuit by Democratic lawmakers Senator Sherrod Brown and Representative Maxine Waters to intervene in the PHH appeal.  The lawmakers are, respectively,...more

PHH files supplemental response to CFPB’s rehearing petition; opposes state AGs’ motion to intervene

This past Friday, PHH filed a supplemental response to the CFPB’s petition for en banc rehearing and a response opposing the motion filed by Democratic Attorneys General of 16 states and the District of Columbia to intervene...more

Real Property & Title Insurance Update: Weeks Ending December 2 & 9, 2016

REAL PROPERTY UPDATE - Deficiency/Subject Matter Jurisdiction: approving the 3d DCA’s opinion that an assignee of a foreclosure judgment can maintain a separate action for deficiency under Florida Statutes, Section...more

CFPB Seeks Rehearing of D.C. Circuit Panel Ruling in PHH: What Now?

The Consumer Financial Protection Bureau (Bureau) Friday filed a petition in the closely-watched PHH case, seeking to undo a ruling by a panel of judges for the D.C. Circuit Court that was highly critical of the Bureau’s...more

CFPB Structure Hangs In the Balance as Agency Petitions D.C. Circuit for Rehearing

The Consumer Financial Protection Bureau (CFPB) filed on Nov. 18, 2016, a petition challenging the U.S. Court of Appeals for the District of Columbia Circuit's ruling in PHH Corp., et al. v. Cons. Fin. Prot. Bureau, in which...more

Real Property & Title Insurance Update: Weeks Ending November 4 & 11, 2016

REAL PROPERTY UPDATE - Foreclosure/Constitutional Challenge: record title owner’s argument that Florida Statutes section 702.035, governing “Legal notice concerning foreclosure proceedings,” is an unconstitutional...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

UPDATE: Ninth Circuit Denies Rehearing of Bourne Valley Decision Holding Nevada HOA Super-Priority Lien Statute Unconstitutional

The Ninth Circuit denied the plaintiff’s request to rehear Bourne Valley Court Trust v. Wells Fargo Bank, N.A., in which the Ninth Circuit found NRS 116 to be unconstitutional on its face because the statute violates a first...more

What the PHH decision means for the CFPB’s UDAAP authority

In addition to its implications for CFPB rulemaking, the D.C. Circuit’s decision in PHH Corporation v. CFPB has significant implications for the CFPB’s authority to enforce federal consumer financial protection laws as well...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

Structure Of CFPB Found To Be Unconstitutional But Agency Survives With Cut To Director’s Power

The DC Circuit Court of Appeals recently held that the single-director structure of the Consumer Financial Protection Bureau (“CFPB”) was unconstitutional, and gave the President the authority to fire the director at will in...more

Citing Spokeo, Eleventh Circuit Rejects Class Action Over Late Mortgage Satisfaction Recordation, Holding Plaintiff Had Not...

The Eleventh Circuit recently held in Nicklaw v. CitiMortgage, Inc.(No. 15-14216) that a plaintiff lacks standing to sue a creditor where the plaintiff merely alleges that the creditor failed to timely record a mortgage...more

US Court of Appeals for the DC Circuit Declares Structure of the US Consumer Financial Protection Bureau Unconstitutional

The US Court of Appeals for the DC Circuit declared the structure of the US Consumer Financial Protection Bureau unconstitutional, stating that the “massive, unchecked power” exercised by its director, Richard Cordray, lacks...more

Cordray remarks to MBA signal continued CFPB focus on servicing, likely petition for rehearing in PHH case

In his remarks at the Mortgage Bankers Association’s annual meeting in Boston on October 25, Director Cordray signaled that mortgage servicing will continue to be a focus of CFPB supervisory and enforcement activity, with the...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

Court Rules CFPB Unconstitutional and Finds CFPB Improperly Applied Mortgage Lending and Reinsurance Laws

In PHH Corporation v. Consumer Financial Protection Bureau, no. 15-1177 (D.C. Cir. Oct. 11, 2016), the Court of Appeals for the D.C. Circuit recently held that the organizational structure of the Consumer Financial Protection...more

Real Property & Title Insurance Update: Week Ending October 14, 2016

REAL PROPERTY UPDATE - Foreclosure/Standing: foreclosing bank did not establish standing where it failed to submit evidence it was in possession of original note with blank endorsement at time of filing of foreclosure...more

CFPB Deputy Enforcement Director mum on whether CFPB will seek further review of PHH decision

During the “Developments at the CFPB” panel this morning at the Pennsylvania Bar Institute Consumer Financial Services & Banking Law Update program in Philadelphia, Jeffrey Ehrlich, the CFPB’s Deputy Enforcement Director,...more

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