News & Analysis as of September 26, 2024

Banks

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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 -

New 6th Circuit opinion puts the brakes on expedited tax foreclosures by county land banks

Bricker Graydon LLP on 11/16/2022

You knew the wheels were falling off the (medieval) cart when the federal 6th Circuit Court of Appeals rattled off English legal theory from the year 1470, right? Advocates for county land banking activities in...more

New York Appellate Court Decision Provides Guidance for Lenders in Foreclosure Actions

Troutman Pepper on 4/5/2019

The New York Appellate Division for the Second Department recently issued a ruling that makes it more difficult for mortgage holders to foreclose on certain properties. ...more

Chris Lazarini Examines Statute of Limitations Related to Breach of Fiduciary Duty

Bass, Berry & Sims PLC on 4/3/2018

Bass, Berry & Sims attorney Chris Lazarini examined a case of alleged breach of trust and breach of fiduciary duty against a bank acting as the indenture trustee related to a foreclosure action on defaulted mortgage revenue...more

Conflicts of Laws, Deficiency Actions, and Statutes of Limitations – Oh My!

Snell & Wilmer on 5/3/2017

What law governs a deficiency action if the choice-of-law provisions in the note and deed of trust conflict? The Arizona Court of Appeals answered that very question in ZB, N.A. v. Hoeller, No. 1 CA-CV 16-0071 (Ct. App. April...more

Real Property & Title Insurance Update: Week Ending January 27, 2017

Carlton Fields on 2/3/2017

REAL PROPERTY UPDATE - Foreclosure/Lis Pendens: a proper reading of Florida Statute section 48.23(1)(d) is that “when a foreclosure action is prosecuted to a judicial sale, that sale discharges all liens, whether...more

Financial Services Weekly News - August 2016 #2

Goodwin on 8/12/2016

Editor's Note - OATS Reporting Violations and FINRA Enforcement. FINRA’s Order Audit Trail System (OATS), is an integrated audit trail of order, quote and trade information for all NMS stocks and OTC equity securities,...more

Florida's Fourth DCA Confirms that a Borrower is in the Best Position to Know Their Own Financial Information

Burr & Forman on 8/4/2016

The Fourth District Court of Appeal recently affirmed its prior decision in Vidal v. Liquidation Properties, Inc., 104 So. 3d 1274 (4th DCA 2013). Wells Fargo Bank, N.A. v. Hilary A. Williamson, Case No. 4D15-285, 2016 WL...more

Challenge to Trustee’s Standing to Foreclose Dismissed as Moot after Loan Modification

Bradley Arant Boult Cummings LLP on 4/29/2015

In Matt v. HSBC Bank USA, N.A., the U.S. Court of Appeals for the First Circuit dismissed as moot a borrower’s claims that HSBC as Trustee for the investor lacked authority to act under the terms of the mortgage....more

Waiving Statutory Foreclosure Provisions

Sherman & Howard L.L.C. on 7/1/2014

The recently issued opinion of the Colorado Court of Appeals, in Armed Forces Bank v. Hicks, 2014 COA 74. No. 13CA0875 (June 5, 2014), is significant for commercial real estate lenders. In Hicks, the Bank was the...more

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