Deed of Trust

Maryland Removes Potential Barrier To Refinance Transactions

On May 2, Maryland enacted SB 199, which authorizes a mortgagor to refinance the full balance of a loan secured by a first mortgage or deed of trust without the permission of the holder of a junior lien if (i) the principal...more

Former Owner Cannot Challenge Foreclosure Procedure In Forcible Detainer Action

In McDaniel v. HSBC Bank USA, NA, McDaniel appealed a trial court's granting a bank possession of real property purchased at a foreclosure sale. No. 05-11-00238-CV, 2013 Tex. App. LEXIS 1079 (Tex. App.—Dallas February 6,...more

Maryland Again Changes Recordation Tax Payable on Indemnity Deeds of Trust - Effective as of July 1, 2013

Recordation Tax Now Charged Upon Recordation of Indemnity Deeds of Trust Securing a Guarantee of a Loan or Related Loans of $3,000,000 or More - Governor Martin O’Malley signed legislation this week that will again...more

NEW CASE ALERT: California Affirms Equitable Exceptions To The “Merger Doctrine"

The merger doctrine is not absolute and its application will depend upon the equities and the parties’ intentions, the California Court of Appeal recently held in Hamilton Court, LLC v. East Olympic, L.P., 2013 WL 1613269...more

Beware of Deed of Trust Securing Multiple Loans: Priorities May Not Be as They Appear!

In R.E. Loans LLC v. Investors Warranty of America, Inc. (2013) 212 Cal.App.4th 1432, the court of appeal decided that a subordination agreement was enforceable even though the new deed of trust (“subordinating loan”) to...more

Servicemembers Civil Relief Act: Provisions Affecting Banking Institutions

According to December 2012 data from the federal Bureau of Labor Statistics, the unemployment rate for Gulf War Era veterans, hovering around eight percent, remains higher than the national rate. Over the last decade, more...more

Securing Multiple Loans With a Single Deed Of Trust Does Not Affect Lien Priority in Foreclosure - Priority of Each Secured Loan...

The California Court of Appeal (Second District) recently determined that the lien priority of multiple loans secured by a single deed of trust must be determined separately for each individual loan. As a result, secured...more

Mortgage Banking Update - February 21, 2013

In This Issue: - MERS Has Power To Assign Interest in Deed of Trust, Borrower Can Challenge Assignment of Mortgage, First Circuit Rules - Federal Judge Refuses To Dismiss Arizona Mortgage Class Action Alleging...more

MERS Has Power To Assign Interest in Deed of Trust, Borrower Can Challenge Assignment of Mortgage, First Circuit Rules

Under Massachusetts law, Mortgage Electronic Registration Systems, Inc., or MERS, has the power, as nominee beneficiary, to assign its interest under a deed of trust, the U.S. Court of Appeals for the First Circuit has ruled....more

Tennessee Court of Appeals Confirms Foreclosures Cannot Be the Basis for a TCPA Claim

On September 25, 2012, the Middle Section of the Tennessee Court of Appeals issued an opinion confirming that foreclosure proceedings cannot serve as the basis for a Tennessee Consumer Protection Act (TCPA) claim. ...more

A Theory Of A Moveable Parcel Is Not The Legal Solution To Rising Sea Levels And Beach Front Ownership

The Massachusetts Supreme Judicial Court weighed in on an ugly property rights case last Friday concerning some beautiful beachfront on Martha’s Vineyard. In White v. Hartigan, SJC 11072 (Feb. 8, 2013), the Court considered...more

Good News for Lenders! Minor Errors in Deeds of Trust Less Costly As Result of New Bankruptcy Court Opinion

Worried that a minor typo will invalidate your deed of trust? After several years of rulings causing lenders in North Carolina to be understandably nervous, the United States Bankruptcy Court for the Eastern District of North...more

Neither Failure to Name Trustee In Deed of Trust Nor Absence of The Original Note Will Invalidate A Nonjudicial Foreclosure Sale –...

In this recent Court of Appeal opinion, an issue of first impression in California was addressed: That is, can a borrower seek to set aside a nonjudicial foreclosure under a deed of trust which initially failed to identify a...more

Rogers Towers: Documentary Stamp Tax: a Quick Review of the Basics

Happy new year to our blog readers! In 2013, we are all hoping for an improved economy and, with it, an increase in the volume of commercial and consumer loans. Remember that Florida has certain transactional taxes for which...more

Navigating Non-Judicial Foreclosures -- After Bain v. Metropolitan Mortgage Group, Inc., et al.

Originally published in Washington Bankers' Issues & Answers - November/December 2012. In August, the Washington State Supreme Court weighed in on the role of Mortgage Electronic Registration Systems, Inc. (“MERS”) in...more

BARRY FAGAN vs WELLS FARGO BANK RE: NOTICE OF "MATERIAL VIOLATIONS" UNDER CALIFORNIA'S NEWLY ENACTED HOMEOWNERS BILL OF RIGHTS...

http://livinglies.wordpress.com/2012/12/18/notice-of-violation-under-california-bill-of-rights/ Posted on December 18, 2012 by Neil Garfield LAW OFFICE OF BARRY FAGAN Reference is made to Wells Fargo’s (“Defendant”)...more

Barry Fagan v Wells Fargo Bank N.A.

Notice of "Material Violations" under California's Homeowners Bill of Rights pursuant to Civil Code Sections, 2923.55, 2924.12, &...

Barry Fagan vs. Wells Fargo Bank, N.A. et al Re: Notice of "Material Violations" under California's Newly Enacted Homeowners Bill of Rights pursuant to California Civil Code sections, 2923.55, 2924.12, and...more

Lender Did Not Have Burden To Prove Holder Status In Wrongful Foreclosure Suit

In Campbell v. Mortgage Electronic Registration Systems, Inc., the Campbells borrowed money from a lender to purchase a residence. No. 03-11-00428-CV, 2012 Tex. App. LEXIS 4030 (Tex. App.—Austin May 18, 2012, no pet....more

CALIFORNIA HOMEOWNERS BILL OF RIGHTS: CALIFORNIA SENATE BILL No. 278

CALIFORNIA ASSEMBLY BILL No. 278 CHAPTER 86 An act to amend and add Sections 2923.5 and 2923.6 of, to amend and repeal Section 2924 of, to add Sections 2920.5, 2923.4, 2923.7, 2924.17, and 2924.20 to, to add and repeal...more

Maryland taxes on refinancings to increase – the end of (new) "IDOTS"

On May 22, 2012, Maryland's Governor O'Malley signed legislation mandating that indemnity mortgages and indemnity deeds of trust will be subject to recordation taxes. Property owners now have just over a month to refinance...more