Foreclosure

Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of... more +
Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -
News & Analysis as of

First Circuit: Sending Form 1099-A Post-Chapter 7 Discharge Does Not Violate the Discharge Injunction

On December 14, 2016, the United States Court of Appeals for the First Circuit affirmed the New Hampshire Bankruptcy Court and District Courts’ findings that a mortgage lender sending Internal Revenue Service Form 1099-A to a...more

Real Property & Title Insurance Update: Week Ending January 13, 2017

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

Supreme Court Decides Lightfoot v. Cendant Mortgage Corporation

On January 18, 2017, the Supreme Court decided Lightfoot v. Cendant Mortgage Corporation, No. 14-1055, holding that Fannie Mae’s corporate charter, which gives Fannie Mae the power “to sue and be sued, and to complain and...more

Florida District Court Rejects Use of Statute of Limitations as a Basis for Asserting Consumer Protection Claims

Action Item: Florida District Court rejects use of statute of limitations as a basis for asserting a consumer protection claim and finds that SOL Issue should be raised—if at all—as an affirmative defense to an actual...more

Real Property & Title Insurance Update: Week Ending January 6, 2017

REAL PROPERTY UPDATE - Foreclosure – Involuntary Dismissal: although lender’s witnesses failed to explain lender’s loan payment history statement, the statement reflected the principal amount due and had been admitted...more

Allegedly Time-Barred Foreclosures Do Not Form Basis for FDCPA/FCCPA Lawsuits Outside Bankruptcy Context

In an order issued yesterday, Judge Dalton of the Middle District of Florida held that in a non-bankruptcy context, allegations that collection of a mortgage debt is barred by the statute of limitations do not form a...more

Everything You Need To Know About Florida Deficiency Judgments – Part I

A mortgage judgment in Florida does two things – it sets the amount owed to the lender, and it orders the sale of the mortgaged property and applies the proceeds to pay down the debt. Where the sale proceeds are insufficient...more

Money, Dirt and Steel: Year End 2016

COPIES AND AFFIDAVITS ADMISSIBLE IN POWER OF SALE FORECLOSURE PROCEEDINGS - In the Matter of Foreclosure by Rogers Townsend & Thomas, __ N.C. App. ___, COA15-581 (April 15, 2016), was a Non-judicial foreclosure action...more

Foreclosures in North Carolina - Say Goodbye to Discovery and Res Judicata

Late December is a time of family, mistletoe and “presents under the tree.” It’s not usually the time when minds switch to the specifics of foreclosure procedure. Yet just before they retired for their Christmas break, the...more

Nutter Bank Report, December 2016

OCC to Consider Fintech Applications for Special Purpose National Bank Charters - The OCC has announced that it will consider applications for special purpose national bank charters for financial technology (“fintech”)...more

Alabama Court of Civil Appeals Holds Questions Regarding Propriety of Foreclosure May Be Raised as Affirmative Defense to...

The Alabama Court of Civil Appeals recently held in Pittman v. Regions Bank that questions about the propriety of a foreclosure may be raised more than one year after the foreclosure as an affirmative defense to an ejectment...more

Becoming As Rich As Donald Trump: Financial and Tax Policies of the United States Government That Can Lead To Significant Wealth...

Financial and tax policies of the United States government can help Americans achieve significant wealth through real estate ownership. These policies tend to favor taxpayers who, like the Trump family, are willing to commit...more

Massachusetts Title Clearing Act To Take Effect December 31, 2016 - Are you Ready?

On December 31, 2016, the remedial provisions of “An Act Clearing Titles to Foreclosed Properties” (the “Act”) will take effect in Massachusetts. The Act is designed to clear legal title for Massachusetts homeowners who...more

Nebraska Real Estate And Nebraska Borrowers, But Federal Arbitration Act Applies

In a fight over whether a single lending transaction involved interstate commerce, the Supreme Court of Nebraska found the Federal Arbitration Act (FAA) applied and preempted its state arbitration act. Wilczewski v. Charter...more

Favorable Ruling for Condo Associations in Second DCA

Recently, in Ventana Condominium Ass’n, Inc. v. Chancey Design Partnership, Inc., et al., 2016 WL 4259999 (Fla. 2d DCA), the Second District Court of Appeal held that the Plaintiff, Ventana Condominium Association, Inc. (the...more

Financial Services Weekly News - December 2016 #2

Editor's Note - In This Issue. While we eagerly await its decision on interest rates, the Fed had a busy week, granting a Volcker Rule extension for illiquid funds, issuing a joint final rule with the FDIC and the OCC...more

Real Property & Title Insurance Update: Weeks Ending December 2 & 9, 2016

REAL PROPERTY UPDATE - Deficiency/Subject Matter Jurisdiction: approving the 3d DCA’s opinion that an assignee of a foreclosure judgment can maintain a separate action for deficiency under Florida Statutes, Section...more

Florida Foreclosure Reversed Because Lender Did Not Prove Compliance with HUD Regulation

On December 2, 2016, Florida’s Fifth District Court of Appeal filed an opinion overturning a foreclosure sale on grounds that the foreclosing bank failed to meet with the borrower in person prior to filing suit, as required...more

Ohio Legislature Concludes 131st General Assembly in Marathon Session Lasting Until 3:30 AM Last Friday

After a whirlwind final week of the lame duck session, where the Legislature passed various, often times emotion-evoking measures (including gun rights, abortion, unemployment compensation fund changes, municipal minimum wage...more

Ohio Supreme Court Finds That An Action At Law On A Promissory Note To Collect A Mortgage Debt Is Separate And Distinct From An...

The Supreme Court of Ohio recently clarified in a decision issued in Deutsche Bank Nat’l Trust Co. vs. Holden 2016-Ohio-4603; 2016 Ohio LEXIS 1803, that equitable rights and remedies which a party holds in and to a mortgage...more

Changes to WA Supreme Court process for mortgage actions

On 16 November 2016 significant changes to the Rules of the Supreme Court in Western Australia affecting mortgage recovery actions were made....more

Your Daily Dose of Financial News

Blackstone is spinning off a new housing maintenance and rental venture in the form of Invitation Homes LP, which could see an IPO as early as January 2017. Invitation Homes is the culmination of a four-year, $10 billion...more

Florida Court Finds HUD Face-to-Face Requirements a Condition Precedent to Foreclosure

In a decision issued Dec. 2, Florida’s Fifth Court of Appeal became the first Florida state appellate court to find that the Housing and Urban Development (HUD) regulation, requiring a face-to-face interview with borrowers,...more

Banking & Financial Services E-Note - November 2016

Employers across the country can now exhale. On Tuesday, November 22, 2016, a Texas federal court entered a nationwide injunction blocking the U.S. Department of Labor’s (“DOL”) new federal overtime rules from taking effect...more

Real Property & Title Insurance Update: Weeks Ending November 18 & 25, 2016

REAL PROPERTY UPDATE - Settlement/Waiver: borrowers permitted to raise affirmative defenses and counterclaims against lender where subject Loan Modification Agreement failed to include waiver of claims, affirmative...more

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