As the lending community is well aware, the mortgage industry in the state of Nevada remains in flux. Nevada continues to deal with the aftermath of the Nevada Supreme Court’s September 2014 decision in SFR Investments Pool...more
It is hard to imagine that a lender’s first-position deed of trust on a residence worth hundreds of thousands of dollars could be extinguished by a homeowners’ association (HOA) lien for overdue neighborhood assessments,...more
Lenders and servicers have been addressing the issue of some Nevada courts ruling that a foreclosure sale by a homeowners association (HOA) "wipes out" a senior deed of trust. Since the date of our last legal alert on this...more