Finance & Banking Residential Real Estate Civil Remedies

Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:
News & Analysis as of

Ex Parte Attachment, and Priority, Reinstated to First in Time Creditor

In Estate of Summers v. Nisbet, the Maine Supreme Judicial Court reinforced the first in time, first in right nature of attachment and trustee process under Maine law. Attachment and trustee process are powerful enforcement...more

CFPB and DOJ Propose $10.6 Million Settlement in Discriminatory Lending Action

On June 29, the Consumer Financial Protection Bureau (CPPB) and Department of Justice (DOJ) announced a joint enforcement action against a regional bank for alleged discriminatory mortgage lending in violation of the Equal...more

Nevada Supreme Court Clarifies Limits to its SFR Investments Decision

In September 2014, the Nevada Supreme Court, in SFR Investments Pool 1, LLC v. U.S. Bank, N.A., held that a portion of a homeowners’ association (HOA) lien for delinquent assessments has true super-priority status over a...more

Court of Appeal Addresses “Prejudice” Element of Wrongful Foreclosure

If a property owner loses their property through a foreclosure sale initiated by someone who did not validly own the debt, has the property owner automatically suffered enough “prejudice” to pursue a claim for wrongful...more

Nevada Supreme Court Clarifies Extent of HOA Super-Liens

For the past several years, Nevada courts have been flooded with quiet title actions between mortgage lenders and buyers who acquired residential properties at homeowners association (HOA) super-lien foreclosures. Recently,...more

OCC Imposes $70 Million Fine Against National Bank for Allegedly Violating Mortgage Servicing Consent Order

On May 25, the Office of the Comptroller of Currency (OCC) entered a consent order with a national bank stemming from allegations that the bank violated a 2011 consent order concerning its mortgage servicing related...more

CFPB Enters Consent Order with Loan Officer Over Alleged Mortgage Fee-Shifting Scheme

On May 26, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a former loan officer of a national bank, whom the CFPB alleges increased the number of loans he sold by...more

The Simplest Way to Defeat Claims Alleging an Invalid Assignment of a Deed of Trust: Judicially Noticeable Documents

Recently, much judicial ink has been deployed writing opinions addressing borrower challenges to foreclosure based on allegations that the deed of trust was not validly assigned to the foreclosing lender. Earlier this...more

Fourth Circuit Case on Modification of Residential Mortgage

The Fourth Circuit has held that in a case where the rate of interest on a residential mortgage loan had been increased upon default, a Chapter 13 Plan proposing to “cure” default under 11 U.S.C. §1322(b) is an impermissible...more

Real Property & Title Insurance Update: Weeks Ending April 29 & May 6, 2016

REAL PROPERTY UPDATE - Foreclosure/Requests for Admission: trial court erred by involuntarily dismissing foreclosure action based solely on lender’s failure to respond to requests for admission because lender’s...more

Eleventh Circuit Affirms Jury Verdict Against Mortgage Servicer for Extreme and Outrageous Conduct

Following the Eleventh Circuit’s decision last month in McGinnis v. American Home Mortgage Servicing, Inc., No. 14-13404, mortgage servicers should be aware that failing to recognize and correct miscalculations of a...more

Florida Appellate Court Bolsters Statutory HOA Safe Harbor

A significant opinion from the Florida Third District Court of Appeal further clarifies the extent of the Florida statutory homeowners association (HOA) “safe harbor.” In the end, entities that obtain title through judicial...more

Difficulties Foreclosing in Massachusetts

Foreclosing a mortgage in Massachusetts can be a pain. Among the many, very technical requirements, a foreclosing mortgagee must be able to prove that it is the holder, or the authorized representative of the holder, of the...more

Supreme Court of South Carolina sides with MERS in Kubic v. MERSCORP Holdings, Inc.

On March 30 2016, the Supreme Court of South Carolina weighed in on the attempts of several South Carolina counties to make Mortgage Electronic Registrations Systems, Inc. (MERS), and its member banks pay for the correction...more

Bribes and the remedy of Tracing

Relations between companies and businessmen worldwide are often governed by contracts subject to English law. Bribery is – regrettably – common in worldwide business. A discussion as to how English civil law treats a bribe is...more

March 2016 Securities & Structured Finance Litigation Update

Quinn Emanuel Obtains Significant RMBS Sampling Ruling. Quinn Emanuel recently won a significant ruling permitting the use of statistical sampling to prove liability and damages on loan repurchase claims brought by the...more

Equitable Subrogation and the Replacement Doctrine

All real estate professionals and investors are familiar with the concept of the priority of liens. As a general rule, when there are multiple liens recorded against a property, the one that is recorded first is “superior”...more

Assignee Not Liable Under TILA for Mortgage Servicer's Failure to Provide Payoff Statement, 11th Circuit Holds

The assignee of a residential mortgage loan is not liable under the Truth In Lending Act (TILA) for a loan servicer's failure to timely provide a payoff demand, the 11th Circuit recently held. TILA requires that a mortgage...more

Five-Year Dismissal Statute not Tolled by Order Staying the Case

Milton Howard Gaines v. Fidelity National Title Insurance Company - Supreme Court of California (February 25, 2016) - Code of Civil Procedure (hereafter “C.C.P.”) § 583.310 requires an action to be brought to...more

Highmark Properties Revisited: Lender Credit Bids

The dust has yet to settle on the landmark decision of High Point Bank & Trust Co. v. Highmark Properties, LLC, 776 S.E.2d 838 (N.C. 2015). Before delving into the decision that should serve as a harbinger of imminent and...more

A Guaranteed Defense: An Overview of the North Carolina Supreme Court’s Decision in High Point Bank & Trust Co. v. Highmark...

Until recently, a common question that arose during foreclosure deficiency actions was whether a guarantor on a loan could raise the anti-deficiency defense set forth in section N.C.G.S. § 45–21.36. This past fall, the North...more

Maryland District Court Without Jurisdiction to Consider Borrower’s Collateral Attack on State Foreclosure Action

Federal courts lack jurisdiction to consider borrowers' claims that arise out of a state court foreclosure proceeding, the U.S. District Court for the District of Maryland recently ruled. Parker v. Investire involved claims...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending February 12 & 19, 2016

REAL PROPERTY UPDATE - - Foreclosure/Discovery: trial court erred by declining to rule prior to trial on borrowers’ motion in limine seeking to exclude evidence contrary to bank’s “technical admissions” established by...more

Condominium Association Liens Have "Super-Priority" Over First Mortgage Liens, Rhode Island Supreme Court Holds

The Supreme Court of Rhode Island, in a 4-1 decision, recently joined a growing list of states that allow a homeowners or condominium association lien for delinquent assessments to take priority over, and potentially wipe...more

West Coast Real Estate Update: Feb. 2016 #2

New Legislation Limits Tax Sharing Agreements - California Senate Bill (SB) 533, which was signed into law in October 2015, went into effect on Jan. 1, 2016, and limits local government from executing tax-sharing...more

447 Results
|
View per page
Page: of 18

Follow Finance & Banking Updates on:

JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×