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Finance & Banking Residential Real Estate

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

Judicial Estoppel Defense in Bankruptcy Claims Likely to Get More Difficult

A recent decision from the Court of Appeals for the Eleventh Circuit has impaired a valuable defense for early dismissal or settlement with bankrupt plaintiffs. This decision will affect strategy for mortgage originators,...more

Chris Lazarini Provides Insight on Lawsuit Dismissal on Res Judicata Grounds

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini provided insight on a lawsuit involving a former broker of Wells Fargo who sued the firm in state court for fraud and personal injury when the company initiated a foreclosure action...more

Real Property & Title Insurance Update: Weeks Ending September 8 & 15, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Summary judgment: trial court erred by denying borrower’s motion to amend answer and defenses, and therefore erred in entering summary judgment in favor of lender. Reyes v BAC Home Loans Servicing...more

Important Lessons for Mortgage Lenders in Delaware

by Pepper Hamilton LLP on

In a recent opinion, the Supreme Court of Delaware held that a mortgage holder must be entitled to enforce the underlying obligation that secures the mortgage in order to foreclose on the mortgage. As a result of the court’s...more

Court Awards Nearly $280 Million in Treble Damages Against Former FHA Lender

by Goodwin on

On September 14, 2017, the U.S. District Court for the Southern District of Texas issued an opinion and order against two former mortgage companies and their former president and CEO. The order, which followed a previous jury...more

Additional guidance from HUD/Freddie/Fannie/Ginnie/VA on mortgage-related disaster relief for hurricane victims

by Ballard Spahr LLP on

In addition to the guidance regarding Hurricane Harvey disaster relief, the housing agencies and government-sponsored enterprises (GSEs) recently addressed the mortgage-related relief available to victims of both Hurricane...more

You Can’t Ignore RESPA Section 8(c)

by Foley & Lardner LLP on

It’s been over a year since the Consumer Financial Protection Bureau (CFPB) turned the real estate settlement services industry on its head by announcing in its first ever administrative appeal that Section 8(c) of the Real...more

Iowa Transitions Division of Banking Licenses to NMLS

by Ballard Spahr LLP on

On October 1, 2017, the Iowa Division of Banking will require the following licensees to submit a license transition request via NMLS...more

Arkansas Requiring Amended Surety Bonds

by Ballard Spahr LLP on

Prior to the approval of their renewal request for the 2018 calendar year, Arkansas licensed mortgage companies and money transmitters must reissue their surety bonds to reflect the amended bond requirements adopted in March...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

In an apparent effort to appease dissatisfied activist investors, chemicals giant DowDuPont has announced plans to change its breakup plan with an reorganizational structure that focuses on three “distinct businesses: an...more

Fannie Mae and Freddie Mac Address Catastrophic Storms through Borrower Relief Programs

by Bryan Cave on

Hurricanes Harvey and Irma recently caused widespread devastation and flooding throughout the southeastern United States, temporarily displacing millions of people and causing hundreds of billions of dollars in property...more

CFPB Issues Final Rule Temporarily Raising Reporting Threshold for Home Equity Loans Under Home Mortgage Act Rules

On August 24, 2017, the Consumer Financial Protection Bureau (the “CFPB“) issued a new rule that amends the 2015 updates to the Home Mortgage Act (“HMDA“) rules. Under the HMDA rules that are scheduled to take effect in...more

How Does a Receiver Sell the Homesteaded Home of a Judgment Debtor to Satisfy a Judgment?

by Ervin Cohen & Jessup LLP on

Question: I am a receiver appointed to collect a substantial judgment. The judgment debtor’s home has appreciated since the entry of the judgment five years ago....more

Mortgages or milk - do you need to check your expiration date?

by Hinshaw & Culbertson LLP on

There are borrowers out there who believe that the Massachusetts Obsolete Mortgage Statute, M.G.L. c. 260 sec. 33, relieves them of their repayment obligations. This statute, amended back in 2006, provides that five years...more

Global Real Estate Trends, Africa and Opportunities for 2017/2018

by K&L Gates LLP on

On Tuesday 12 September, the London Real Estate team held their annual seminar. Topics for discussion included: - An analysis of Global Real Estate Trends - Operating in Emerging Markets - Africa and Opportunities - A...more

More Companies Must Comply with the Gramm-Leach-Bliley Act, But Don’t Know It. Are You One of Them?

by Dickinson Wright on

When the topic of data privacy and cyber security comes up, most people automatically think of data breaches, especially given the high-profile nature of so many of them. Breaches and hacks are certainly an issue about which...more

How to Protect Yourself from Financial Disaster in the Wake of a Natural Disaster

In light of Hurricane Harvey and all the damage that it caused, as well as the potential damage that may be inflicted by Hurricane Irma, the Consumer Financial Protection Bureau (CFPB) has provided advice on measures to take...more

OCC Issues Mortgage Lending Bulletin Concerning High-LTV Loans

by Goodwin on

On August 21, 2017, the Office of the Comptroller of the Currency (OCC) issued Bulletin 2017-28, providing risk management guidance to financial services lenders that want to establish community redevelopment programs that...more

Strategic Alternatives for Real Estate Portfolios - Part I - Conversion to Open-End Vehicles

by King & Spalding on

The review of strategic alternatives can be a daunting task even for the most seasoned executives and directors of real estate companies and real estate investment trusts. This is particularly true in today’s real estate...more

Minnesota Adds Non-Depositor Licenses to NMLS

by Ballard Spahr LLP on

On October 1, 2017, the Minnesota Department of Commerce will start accepting new applications and transition fillings on NMLS for the following licenses...more

Real Property & Title Insurance Update: Week Ending September 1, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure / Statute of Limitations: trial court improperly found that, because payments due under a note and mortgage were accelerated in a prior 2009 action, the second action filed over five...more

Hurricane Harvey & FEMA Assistance Program

by Jackson Walker on

Our deepest sympathy goes out to everyone affected by Hurricane Harvey and the devastation it caused. For our clients, colleagues, and any others who may have been affected, we have put together some information about...more

Nevada Supreme Court Clarifies the Litigation Waiver of the One-Action Rule

by Snell & Wilmer on

Nevada has a one-action rule which, with limited exceptions, requires a creditor seeking to recover a debt secured by real property to proceed against the security first prior to seeking recovery from the debtor personally....more

Bivens v. Select Portfolio Servicing, Inc. – 11th Circuit Confirms Right of Servicers to Designate in a Reasonable Manner a...

by Balch & Bingham LLP on

On August 17, 2017, the Eleventh Circuit issued an opinion in Steven Bivens v. Select Portfolio Servicing, Inc. (No. 16-15119), holding that a borrower must send requests for information to a mortgage servicer’s designated...more

Michigan Using NMLS MSB Call Report

by Ballard Spahr LLP on

Starting in Q3 2017 (July 1, 2017 to September 20, 2017), the Michigan Department of Insurance and Financial Services is requiring Money Transmitter licensees...more

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