Williams Mullen's Comeback Plan: Part IV - How Banks Think About Loan Defaults: Lessons for Borrowers in Troubled Times
COVID-19 Comeback Plan: Part III - How Banks Think About Loan Defaults: Lessons for Borrowers in Troubled Times
Williams Mullen's Comeback Plan: Part II - How Banks Think About Loan Defaults: Lessons for Borrowers in Troubled Times
Williams Mullen's COVID-19 Comeback Plan: Part I - How Banks Think About Loan Defaults: Lessons for Borrowers in Troubled Times
Episode 3: Professor Peter Molk Interview on Drafting Around LLC Default Rules
Connecticut Collections: How to get paid if you are owed money? Part 1: Pre and Post-Judgement Collection Specifics
Weekly Brief: DOJ Memo Details Justification For Killing US Citizens
Bill on Bankruptcy: Delaware to Continue Dominating Bankruptcy
On July 8, 2024, the United States District Court for the Eastern District of New York held that a mortgage loan from a private lender was within the scope of the Truth in Lending Act (TILA) and Home Ownership and Equity...more
The first three articles in this series took you through the steps for developing a workout strategy. If you have followed those recommendations, you understand where you are and where you want to be. You have also developed...more
If you are a mortgage lender who followed the recommendations in the first article in this series, then you should have a solid grasp of your mortgage portfolio. You have identified the relevant players and their respective...more
The borrower has no post-sale redemption right in California’s nonjudicial foreclosure process. This redemption bar has long been justified as a trade-off for the lender’s post-sale deficiency bar under Civ. Proc. Code, §...more
As mortgage loan transactions continue to become increasingly complex, lenders often worry about the remedies they have if borrowers fail to live up to their obligations. In the event of a default, lenders have the choice...more
In this alert, we consider a recent decision of the English High Court concerning the extent to which the equitable duty applicable to lenders, security agents and receivers in the context of an enforcement sale may be...more
In Futuri Real Estate, Inc. v. Atlantic Trustee Servs., LLC, borrowers Milton and Armida Cortez (the “Borrowers”) obtained three loans secured by separate deeds of trust on their residence: (A) a $415,000 deed of trust in...more
In the fifth opinion involving the repo liquidation saga of HomeBanc, the Third Circuit addressed several crucial issues involving the liquidation and valuation of repo collateral in bankruptcy. In re HomeBanc Mortg....more
Borrowers looking to invalidate a foreclosure sale often come up with interesting theories. One frequent strategy is to attack the validity of a prior assignment of the underlying note and deed of trust. As explained in...more
There is good news for commercial lenders in Maryland seeking the appointment of a receiver over a borrower or solely over real estate collateral. On April 30, 2019, Governor Hogan signed into law HB 1065, which creates an...more
Almost two years ago, Money and Dirt covered a Fourth District California Court of Appeal opinion addressing an apparent split of authority regarding how a lender can enforce senior and junior deeds of trust on the same...more
Last year, a California Bankruptcy Court wiped out $10.2 million in default interest (“DRI”) when it ruled that a 5% DRI was an unenforceable penalty in a Chapter 11 bankruptcy case where the construction lender fully...more
Welcome to Part IV of our series on servicing discharged mortgage debt. This part will discuss modifying a borrower’s loan post-discharge. (If you missed Part I, Part II or Part III, go ahead and catch up.) Part III discussed...more
The current good economy (going on almost 10 years now) has meant that North Carolina appellate decisions affecting lenders trying to collect defaulted debt have been few and far between in the last couple of years. The North...more
On March 18, 2019, Judge Stuart M. Bernstein of the United States Bankruptcy Court for the Southern District of New York issued a decision enforcing a mortgage lender’s claim for a prepayment premium (a/k/a make-whole or...more
Under California’s “tender rule,” a borrower suing to halt or unwind a wrongful foreclosure sale generally must allege that it tendered the amounts due on the loan before the sale. The rationale underlying the tender rule is...more
Last month, the Ninth Circuit affirmed dismissal of a putative class action that challenged certain fees imposed for property inspections conducted after the named plaintiffs had defaulted on their mortgages. Demonstrating...more
While significant energy here at the Bankruptcy Cave is devoted to substantive bankruptcy matters, not all aspects of a general insolvency practice are always fun and litigation. Oftentimes insolvency lawyers add the most...more
The mortgage industry scored a significant victory last week when the Florida Supreme Court released its decision in Bartram v. U.S. Bank, N.A. broadly approving of the approach taken by the Fifth District Court of Appeal and...more
The Florida Supreme Court issued its long awaited decision in Bartram et al. v. U.S. Bank NA, case number SC14-1265, on November 3, 2016, affirming the decision of the Fifth District Court of Appeals in U.S. Bank Nat. Ass’n...more
On Oct. 19, 2016, the Ninth Circuit held that merely enforcing a security interest is not “debt collection” under the federal Fair Debt Collection Practices Act (“FDCPA”). In so holding, the Ninth Circuit disagreed with...more
Action Item: Florida’s Third District Court of Appeal finds that Florida’s statute of limitations for foreclosure actions does not bar a second foreclosure action filed on a subsequent payment default occurring within the...more
The Florida Third District Court of Appeal (DCA), sitting en banc, reversed itself this week and held that the five-year statute of limitations did not bar a second foreclosure suit filed on a subsequent payment default so...more
The Fifth Circuit Court of Appeals recently clarified how mortgage lenders and servicers can abandon a loan acceleration under Texas law. Although Texas generally requires foreclosure actions to be brought no more than four...more
In August, the CFPB issued a compliance bulletin to clarify lenders’ obligations to terminate Private Mortgage Insurance (PMI) charges under 12 U.S.C. § 4902. One subject that the bulletin did not address—but which is...more