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Insurance Finance & Banking Residential Real Estate

Read Insurance Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

Washington: Third-Party Administrators and Adjusters Can Be Liable in Bad Faith Actions

by Cozen O'Connor on

On April 11, 2017, the Division III Washington Court of Appeals, on a 2 to 1 vote, held that third party administrators and adjusters can be liable in bad faith actions under multiple legal theories. Merriman v. Am. Guar. &...more

Real Property & Title Insurance Update: Week Ending March 31 & April 7, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Deficiency Judgment: where a foreclosing bank acquires in rem jurisdiction via service by publication in underlying foreclosure action, bank may still seek personal service over an...more

Real Property & Title Insurance Update: Week Ending March 24, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Condition Precedent: servicer did not meet its burden of proving it satisfied condition precedent of giving notice of acceleration by failing to provide evidence that notice letter had...more

Mortgage Insurance and the Federal Homeowners Protection Act: HAMP Modification Is Not Like Refinancing

A recent Third Circuit decision offers a cautionary tale for mortgage lenders who provide loan modifications subject to the Homeowners Protection Act. In Fried v. JP Morgan Chase & Co., No. 16-3069 (3d Cir. March 9, 2017),...more

Real Property & Title Insurance Update: Weeks Ending March 10 & 17, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Coequal Liens: trial court properly authorized tax collector to issue tax certificates subject to community development district’s assessment liens – Villages of Avignon Community Dev. Dist. v....more

French Legal and Regulatory Update - February 2017

by Hogan Lovells on

The Paris office of Hogan Lovells is pleased to provide this English language edition of our monthly e-newsletter, which offers a legal and regulatory update covering France and Europe for February 2017. Commercial Law...more

Real Property & Title Insurance Update: Weeks Ending February 17 & 24, 2017

by Carlton Fields on

Foreclosure: foreclosing bank’s allegation that borrowers were in a continuing state of default sufficient to satisfy five-year statute of limitations even though stated initial default date was more than five years prior to...more

Arizona Supreme Court Holds a Credit Bid at a Trustee’s Sale Should Not be Credited to a Title Insurer Under a Standard Lender’s...

by Snell & Wilmer on

The Arizona Supreme Court recently addressed what impact, if any, a lender’s credit bid at an Arizona trustee’s sale has on an insurer’s liability under Sections 2, 7 and 9 of the standard’s lender’s title policy (“Policy”),...more

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

by Carlton Fields on

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

by Carlton Fields on

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

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

by Carlton Fields on

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

Real Property & Title Insurance Update: Week Ending January 13, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure: where a valid mortgage properly encumbers the subject property, an incorrect deed and a reformation of deed count are not fatal to a foreclosure action - Heartwood 2, LLC v. Dori, Case...more

Year in Review: Legislation and Guidance for Financial Institutions in 2016

The regulation of federally regulated financial institutions (FRFIs) continued intensifying in 2016 with a new wave of legislative and regulatory initiatives impacting mortgage lending, the bank resolution regime, the life...more

Real Property & Title Insurance Update: Week Ending January 6, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure – Involuntary Dismissal: although lender’s witnesses failed to explain lender’s loan payment history statement, the statement reflected the principal amount due and had been admitted...more

Orrick's Financial Industry Week in Review

FHFA Issues Final Rule on Fannie Mae and Freddie Mac Duty to Serve Underserved Markets - On December 13, 2016, the Federal Housing Finance Agency (FHFA) issued a final rule implementing the Duty to Serve provisions...more

Court Tosses Time-Barred Rico Claims Alleging Captive Reinsurance Kickback Scheme

by Carlton Fields on

Plaintiffs asserted class claims for RICO violations based on allegations that Bank of America referred borrowers to private mortgage insurance providers in exchange for kickbacks, funneled through a captive reinsurance...more

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

by Carlton Fields on

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

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

by Carlton Fields on

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

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

by Carlton Fields on

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

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

by Carlton Fields on

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

Tennessee District Court Orders Discovery Of Reinsurance Agreements, But Denies Discovery Of Reinsurance-Related Communications,...

by Carlton Fields on

Plaintiffs sought coverage from the insurer Defendants for a $212.5 million dollar settlement of a claim of violation of the False Claims Act relating to errors and omissions in underwriting and origination of HUD mortgage...more

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

by Carlton Fields on

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

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

by Carlton Fields on

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

by Ballard Spahr LLP on

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

What the D.C. Circuit’s PHH decision means for CFPB rulemaking

by Ballard Spahr LLP on

In its decision last week in PHH Corporation v. CFPB, the D.C. Circuit ruled that the CFPB’s single-director-removable-only-for-cause structure is unconstitutional. While the D.C. Circuit (in footnote 19) noted that it “need...more

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