News & Analysis as of

Escrow Accounts

Lender's Edge Newsletter

by Polsinelli on

Deeds in Escrow - Deeds in escrow, or “pocket deeds,” have increased in popularity in recent years. But are they the right option in connection with a workout of your distressed loan? Please see full Publication...more

The Financial CHOICE Act, now closer to passage, would significantly impact the mortgage industry

by Ballard Spahr LLP on

On May 4 H.R. 10, the Financial CHOICE Act (the Act) introduced by House Financial Services Committee Chairman Jeb Hensarling, R-Texas, obtained enough votes to move the bill on to the House of Representatives floor.  The Act...more

Contract Corner: SaaS Escrow Considerations (Part 2)

by Morgan Lewis on

Picking up where we left off last week, below are some additional distinctions for escrow arrangements in the software as a service (SaaS) context and related customer and vendor considerations....more

Contract Corner: SaaS Escrow Considerations (Part 1)

by Morgan Lewis on

With software as a service (SaaS) offerings here to stay as the preferred technology solution for many key business requirements, we are seeing more and more requests for escrow arrangements involving SaaS solutions....more

Is the payment of a sum into an escrow account sufficient to ascertain an insured loss?

by Allen & Overy LLP on

A settlement that required the defendant to pay a sum into an escrow account which would be paid out to the claimant in certain agreed circumstances did not itself ascertain a loss for the purposes of the defendant’s...more

Fourth Circuit Hands Victory to Lenders in Chapter 13 Mortgage Case

by Ward and Smith, P.A. on

The United States Court of Appeals for the Fourth Circuit—which covers federal courts in North Carolina—recently handed a victory to residential real estate lenders dealing with borrowers who file for Chapter 13 bankruptcy...more

CFPB Monthly Report Spotlights Mortgage Products

The CFPB has issued its monthly complaint report and is shining its spotlight on mortgage products. The Monthly Complaint Report provides a high level snap shot of trends in consumer complaints, using a three month rolling...more

Tokyo Dispute Resolution & Crisis Management Newsletter – January 2017

by King & Spalding on

Managing Risks in Acquisitions from Financially Challenged Sellers in the Resources & Energy Sector - Low Commodity Prices - After a decade long boom in the resources and energy sector, prices across almost all...more

Blog: Court Of Appeal Confirms That Payment Of Money Into Escrow Account Is Not An Insured Loss Under A Liability Policy

by Cooley LLP on

In WR Berkley Insurance (Europe) Limited v Teal Assurance Company Limited [2017] EWCA Civ 25, the Court of Appeal upheld the first instance decision of Mr Justice Eder, and confirmed that the payment of monies into an escrow...more

Maryland Court of Appeals Provides New Defense to Summary Ejectment of Tenants

by Pessin Katz Law, P.A. on

In Wendy Cane v. EZ Rentals, No. 1, September Term 2016, decided November 29, 2016, the Maryland Court of Appeals (the “Court”), Maryland’s highest court, broke new ground in landlord-tenant law. Maryland law provides a...more

Peer-to-Peer Lending Regulation Released by OJK

by White & Case LLP on

In light of the rapid development of peer-to-peer (P2P) lending using information technology (IT) ("P2P Lending") in Indonesia, on 28 December 20161 the Indonesian Financial Services Authority ("OJK") enacted OJK Regulation...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

‘I’m yours … and yours’: California Supreme Court puts restrictions on ‘dual agents’

by Thompson Coburn LLP on

The California Supreme Court just closed a loophole as to whether a salesperson’s duties to a buyer in a real estate transaction – when that salesperson’s broker is acting as a “dual agent” – includes the duty to learn and...more

The Tie that Binds: Enforceabliity of Merger Provisions Against Non-signatory Shareholders

by Snell & Wilmer on

The Predicament - One challenge encountered in M&A deals is how to bind all shareholders of the target company to all deal terms. For private companies with few shareholders, this is not much of a challenge. However,...more

Florida Banks: Beware of Eleventh Circuit Decision Implications

by Foley & Lardner LLP on

Banks beware: At the very least in Florida, you may be liable for negligence and “aiding and abetting fraud” to non-customers for trust funds deposited by a bank customer that were obtained by the customer through fraud,...more

Managing Risks in Acquisitions from Financially Challenged Sellers in the Resources & Energy Sector

by King & Spalding on

Impact of Low Commodity Prices - After a decade long boom in the resources and energy sector, prices across almost all commodities declined from 2012, with particularly sharp declines during 2015 and into 2016, as supply...more

Defalcation is a Dirty Word, But Not the End of the World

by Carlton Fields on

The word “defalcation” remains one of the more frightening terms in the title insurers’ lexicon. But with the proper training, preparation, and response, defalcations can be managed, and the title insurers’ exposure...more

Real Property & Title Insurance Update: Week Ending August 12, 2016

by Carlton Fields on

REAL PROPERTY UPDATE: Jurisdiction/Deficiency Judgment: Second DCA agrees with Third DCA that “a circuit court has subject matter jurisdiction to adjudicate an independent deficiency action when the plaintiff had...more

Best Practices to Thwart Hackers Using Email to Get Your Money

by Pessin Katz Law, P.A. on

Not a week goes by without some news report of another hacking incident. The industries targeted include large retail stores, restaurants, banks, attorneys, accountants and recently in Maryland, a title company. In...more

A Bank is a Bank

by Ifrah PLLC on

Do you remember when I wrote about how a federal district court had ruled that an online poker account was akin to a bank account and should therefore be subject to FBAR reporting? It seemed nonsense to me at the...more

Real Property & Title Insurance Update: Week Ending August 5, 2016

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Discovery: Good cause not found to enter protective order preventing owner of property, subject to foreclosure, from deposing bank’s only witness on basis that owner of property was not...more

Startup M&A: Why a Letter of Intent Deserves Your Full Attention

by WilmerHale on

You might know it as a letter of intent or a term sheet. Maybe you’ve heard it referred to as an MOU, or memorandum of understanding. Whatever you call it, this document of about five pages is a summary of the terms of a deal...more

A New Path to Capital Opens for North Carolina Businesses

by Smith Anderson on

The NC PACES Act: “Providing Access to Capital for Entrepreneurs and Small Business” is expected to be signed into law very soon. After years in the making, “intrastate” crowdfunding is coming to North Carolina. ...more

SEC Charges Attorneys Who Implemented Fraud Scheme

by Dorsey & Whitney LLP on

Two attorneys, with fiduciary duties to their clients by virtue of their role as escrow agents, served not as the protector of client funds, but enablers of a fraudulent scheme. The plot was uncovered by OCIE during an...more

No Closure Yet on the Issue of Aggregation of Claims Against Solicitors

by Cozen O'Connor on

The Court of Appeal in AIG Europe Ltd v OC320301 LLP (formerly The International Law Partnership LLP) has ordered a retrial of the question of whether actions brought by 214 investors in two failed holiday property schemes in...more

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