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Real Property, Financial Services & Title Insurance Update: Weeks Ending August 21 & 28 , 2015

Foreclosure/Statute of Limitations: statute of limitations did not bar foreclosure action even though filed more than five years after breach and acceleration of note upon which previous foreclosure action that had been...more

United States District Court: Mortgagor Lacks Standing to Bring RESPA Claim

On August 11, the U.S. District Court for the District of New Hampshire rejected the addition of a potential RESPA claim to plaintiff’s complaint due to lack of standing, and the court dismissed the remaining counts for...more

Florida Court of Appeals Reverses Foreclosure of Reverse Mortgage by Expanding the Definition of “Borrower” to Include Surviving...

Home equity conversion mortgages, commonly known as “reverse mortgages” are popular loan products in Florida. In order to foreclose on a reverse mortgage, the lender generally must allege that all conditions necessary to...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending July 31 & August 7, 2015

Foreclosure: non-borrower owner of real property as tenants-in-common with borrower not required to sign mortgage for borrower to encumber only his interest in the property and non-borrower’s signature on mortgage reflected...more

Burr Commentary: Florida’s District Courts of Appeal Continue to Tighten Standing Requirements for Foreclosures

The UCC was supposed to make enforcing negotiable instruments a simpler, more streamlined process. It has proven anything but in Florida.  Continuing a trend that now stretches back years, mortgage lenders have had an...more

Courts, States Continue to Wrestle with Homeowners Association Assessment Liens

The circumstances under which a condominium or homeowners association (HOA) lien for unpaid assessments may wipe out a lender’s mortgage lien continues to evolve across the country. As noted in our previous alerts regarding...more

Judge Posner Sets Out to Clean Up Frivolousness

Nate Carter probably wasn’t expecting this. Mr. Carter had lost his home to a mortgage foreclosure. So seemingly out of blind rage—or at least the sort of anger that when coupled with ignorance leads one to do illogical...more

New York Appellate Court Confers Standing on Assignee of Note Previously Discharged in Bankruptcy

A mortgage lender has standing to foreclose even when it obtains assignment of the underlying promissory note after the note has been discharged in bankruptcy, a New York appellate court has ruled. The case arose after the...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending July 10, 17 & 24, 2015

REAL PROPERTY UPDATE - Eviction/Summary Judgment: Error to grant summary judgment where plaintiff failed to refute multiple affirmative defenses including an assertion that the eviction would cause an inequitable...more

California Supreme Court Grants Review of Homeowner's Wrongful Foreclosure Claims

On July 15, 2015, the California Supreme Court granted review of Boyce v. T.D. Service Company (2015) 235 Cal.App.4th 429. (Supreme Court Case No. S226267.) In Boyce, the Court of Appeal held that a plaintiff's wrongful...more

Anti-Discrimination Housing Laws Tackled by U.S. Supreme Court

Public Agencies May Face Litigation, but Court-Imposed Safeguards to Limit Liability - Having taken up the question twice before only to see both cases settle, the United States Supreme Court recently concluded that...more

Testimony on Prior Plaintiff’s Possession of Original Note at Inception May Fail When Contravened By Pleadings & Without Other...

In David L. Ham, Jr. v. Nationstar Mortgage, LLC, 1D14-4024 (Fla. 1st DCA May 12, 2015), the First District Court of Appeals (“First DCA”) reversed the trial court’s Final Judgment of Foreclosure in favor of Nationstar for...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending June 26 & July 3, 2015

REAL PROPERTY UPDATE - Standing: parent entity has no right to enforce note and mortgage owned by subsidiary entity absent evidence that parent entity acquired such right – Wright v. JPMorgan Chase Bank, N.A., Case No....more

Disparate Impact Survives—Court Outlines Limitations on Liability

On June 25, 2015, the US Supreme Court issued a decision in Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, holding that disparate-impact claims are cognizable under the Fair Housing...more

Lending Industry Take Note: Federal Fair Housing Act Provides For Disparate-Impact Liability

The status quo stands, to a degree. By a 5-4 vote, the United States Supreme Court has concluded that the federal Fair Housing Act (“FHA”) authorizes lawsuits not just for intentional discrimination, but for conduct taken...more

U.S. Supreme Court Holds Disparate Impact Claims Can Be Brought under Fair Housing Act

In Texas Dept. of Housing and Community Affairs v. Inclusive Communities Project, Inc., decided on June 25, 2015, the United States Supreme Court held that disparate impact claims are cognizable under the Fair Housing Act....more

Supreme Court Upholds Disparate Impact: What are the Practical Consequences for Mortgage Lenders?

The Supreme Court has held that disparate impact claims are valid under the federal Fair Housing Act (the “FHA”). In essence, this means that liability under the FHA can be proven by showing discriminatory effects of...more

Fair Housing Disparate Impact Claims Survive SCOTUS Challenge

The U.S. Supreme Court has decided, 5 - 4, that the Fair Housing Act (FHA) permits the use of a major antidiscrimination tool, the legal theory of disparate impact. Texas Department of Housing and Community Affairs v. The...more

Special Alert: Disparate Impact Under the Equal Credit Opportunity Act After Inclusive Communities

On June 25, the Supreme Court in Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc. held that disparate-impact claims are cognizable under the Fair Housing Act (FHA). The Court, in a 5-4...more

Disparate Impact Doctrine Survives Supreme Court Review

After years of debate and false starts, the Supreme Court has held that the Fair Housing Act (“FHA”) permits disparate impact claims. In Texas Department of Housing and Community Affairs v. Inclusive Communities Project,...more

Urgent Update: After Supreme Court Ruling, Expect Greater CFPB Scrutiny of Disparate Impact in Lending

The U.S. Supreme Court’s surprising disparate-impact ruling on June 25, 2015 regarding tax-credit allotments and discrimination means lenders need to take a hard look at their policies and operations. The Court ruled 5-4...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending June 19, 2015

REAL PROPERTY UPDATE: Tax Deed Sale/Due Process: after certified letter notifying property owner of tax deed sale returned unopened and unclaimed, due process required clerk of court take reasonable steps to notify...more

New York’s Highest Court Clarifies Judicial Foreclosure Standing Requirements

The New York Court of Appeals has clarified the requirements for showing standing to pursue judicial foreclosures in New York state courts after borrowers default on payment obligations, in a ruling that could resolve...more

New York Court of Appeals Rules Possession of Note, Rather than Mortgage, Conveys Standing to Commence Foreclosure Action

On June 11, the New York Court of Appeals held that a loan servicer who holds the note has standing to commence a mortgage foreclosure action against a borrower even if the servicer cannot show that it also holds the...more

Nevada Court Decisions on HOA Foreclosure Crisis Muddy the Waters

Since September 2014, the lending industry has been scrambling to understand and reconcile the Nevada Supreme Court decision in SFR Investments Pool 1, LLC v. U.S. Bank, N.A., a decision that could potentially wash away...more

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