Finance & Banking – May 23, 2012

by Ballard Spahr LLP on 5/23/2012

Arizona’s non-judicial foreclosure statutes do not require the beneficiary to prove its authority or “show the note” before a trustee may commence a non-judicial foreclosure, the Arizona Supreme Court has ruled. The May...more

by BuckleySandler LLP on 5/23/2012

On May 15, Fannie Mae issued Selling Guide Announcement SEL-2012-04, which includes numerous changes to various Selling Guide topics. To address questions from lenders, the Announcement enhances and clarifies certain DU Refi...more

by BuckleySandler LLP on 5/23/2012

On May 1, the U.S. Court of Appeals for the Eleventh Circuit reversed and remanded a lower court’s dismissal of an FDCPA claim, finding that the contents of a “dunning” notice from the lender’s foreclosing law firm...more

by BuckleySandler LLP on 5/23/2012

Topics In This Issue: Federal Issues - State Issues - Courts - Miscellany - Firm News - Mortgages - Banking - Consumer Finance - E-Commerce Excerpt from Federal Issues: Federal Prudential Regulators Issue Final...more

by Cullen and Dykman LLP on 5/22/2012

Introduction No. 501-A, titled A Local Law to amend the administrative code of the city of New York, in relation to notification by a mortgagee commencing an action to recover residential real property, was approved by the...more

by Rosa Eckstein Schechter on 5/18/2012

Here's another piece of evidence that Florida real estate is bouncing back: national builder Meritage Homes has announced that it will be developing a new community of custom-build homes near Medical City, in the Lake Nona...more

by Mintz Levin on 5/18/2012

The Massachusetts House of Representatives yesterday unanimously passed House Bill 4087, “An Act to Prevent Unlawful and Unnecessary Foreclosures.” The bill is designed to get “borrowers and lenders to the table,” according...more

by Bilzin Sumberg Baena Price & Axelrod LLP on 5/18/2012

According to a report , released May 16th from the Mortgage Bankers Association (“MBA“), the U.S. mortgage delinquency rate declined in the first quarter of 2012 to the lowest level since 2008. Specifically, the...more