News & Analysis as of September 24, 2024

Foreclosure › Class Action

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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 -

Litigation Byte (June Edition)

McGlinchey Stafford on 7/16/2024

The Litigation Byte is the new name and format for McGlinchey’s Commercial Law Bulletin. Our new format reflects McGlinchey’s national coverage and our expanded footprint while still serving up the digestible, insightful...more

Who Bears What Burden in Class Settlement Objections - McGlinchey Commercial Law Bulletin - December 4 2023

McGlinchey Stafford on 12/5/2023

Fraudulent Transfer- Leonard Holdings, Inc. v. Rohaley, 11th District Lake County, 2023-Ohio-4096- In this appeal, the Eleventh Appellate District affirmed the trial court’s decision to grant the defendant’s motion for...more

Real Property, Financial Services, & Title Insurance Update: Week Ending July 8, 2022

Carlton Fields on 8/4/2022

Real Property Update- Foreclosure / Fee Judgment / Appellate Jurisdiction: On the facts presented, appellate court had jurisdiction to address whether litigant who obtained the fee judgment against Nationstar was a proper...more

New SDNY Order & Legislative Developments Potentially Impacting New York Foreclosure & Debt Collection Proceedings and Judgments

BCLP on 5/6/2022

The Southern District of New York has granted a preliminary injunction prohibiting state officials from implementing or enforcing retroactive applicability of recently passed legislation (S.B. 5724A, 244thLeg. Sess., c. 831...more

Michigan Court of Appeals Upholds Taxpayer Recovery of Excess Tax Foreclosure Proceeds, Bars Multi-County Class Actions

Miller Canfield on 1/14/2022

Key Takeaways - ..The Michigan Court of Appeals rejected an effort to allow class action recovery of excess proceeds from the sale of tax foreclosed properties. ..The Court ruled that the Michigan Supreme Court's 2020...more

Real Property, Financial Services, & Title Insurance Update: Week Ending November 19, 2021

Carlton Fields on 12/7/2021

Real Property Update - Foreclosure / Reverse Mortgage: Surviving spouse who did not sign the note did not qualify as a “borrower” by signing the mortgage and related documents – OneWest Bank, N.A. v. Leek-Tannenbaum, No....more

House Votes to Repeal OCC True Lender Rule

Goodwin on 7/28/2021

In This Issue. The House of Representatives voted to pass a Congressional Review Act resolution repealing the Office of the Comptroller of the Currency’s (OCC) “true lender” rule; the Consumer Financial Protection Bureau...more

Update: The Federal Moratorium On Residential Evictions Faces A New Class Action

Alston & Bird on 10/7/2020

A&B ABstract: The National Apartment Association, along with several landlords, has challenged the order of the Centers for Disease Control and Prevention (“CDC”) that imposed a nationwide moratorium on certain residential...more

Real Property, Financial Services, & Title Insurance Update: Week Ending June 26, 2020

Carlton Fields on 7/14/2020

Real Property Update - Foreclosure / Condition Precedent: Borrower who raises an affirmative defense, such as failure of conditions precedent, bears the burden of proving that affirmative defense even if lender's complaint...more

Real Property, Financial Services, & Title Insurance Update: Week Ending June 19, 2020

Carlton Fields on 6/26/2020

Real Property Update - Re-Foreclosure / Redemption: Trial court properly entered final judgment allowing re-foreclosure and allowing inferior lien holder right of redemption where inferior lien holder not named as party...more

Financial Services Weekly Roundup: PPP Borrowers And Lenders Under The Microscope

Goodwin on 4/30/2020

In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed a new rule that would establish a revised framework for the fair value determination for purposes of the Investment Company Act of 1940 and have...more

Real Property, Financial Services, & Title Insurance Update: Week Ending April 3, 2020

Carlton Fields on 4/15/2020

Real Property Update - Foreclosure: Where the foreclosure defendant was properly served, and default and default final judgment was entered against said defendant, the defendant can only contest the unliquidated damages...more

Real Property, Financial Services, & Title Insurance Update: Week Ending February 21, 2020

Carlton Fields on 3/11/2020

Real Property Update - HOA / Class Action: It was appropriate for trial court to narrow class to current homeowners as to counts seeking declaratory and injunctive relief, as former homeowners have no interest in relief...more

Real Property, Financial Services, & Title Insurance Update: Week Ending February 7, 2020

Carlton Fields on 2/19/2020

Real Property Update - Fraudulent Transfer: Real property that was worth less than mortgage encumbering it was not an asset per the plain language of section 726.102(2) and, therefore, could not support fraudulent transfer...more

Real Property, Financial Services, & Title Insurance Update: Week Ending November 22, 2019

Carlton Fields on 12/4/2019

Real Property Update - Foreclosure / Rehearing: Order denying rehearing on summary judgment motion and denying continuance affirmed where (1) affidavit in support of rehearing failed to disclose any genuine issue of...more

Should I Stay or Should I Go? Bankruptcy Preemption May Bar FDCPA and FCCPA Claims Either Way

Carlton Fields on 11/14/2019

After receiving a bankruptcy discharge, a borrower whose home is pending foreclosure has two options: stay in the home and, perhaps, make voluntary payments on the mortgage, or leave the home and start fresh. When a debt...more

Real Property, Financial Services, & Title Insurance Update: Week Ending October 18, 2019

Carlton Fields on 10/31/2019

Real Property Update - Foreclosure / Statute of Limitations: default notice pursuant to paragraph 22 of subject mortgage may include amounts accrued outside five-year statute of limitations – U.S. Bank, Nat’l Ass’n v....more

[Event] Residential Mortgage Regulatory Enforcement & Litigation - October 29th-30th, Dallas, TX

American Conference Institute (ACI) on 9/11/2019

Attend the only forum designed to help you navigate the Residential Mortgage Industry’s evolving landscape. Now in its 26th installment, ACI’s Residential Mortgage forum has become a premier gathering of the key industry...more

Real Property, Financial Services, & Title Insurance Update: July 22 - August 9, 2019

Carlton Fields on 8/14/2019

Real Property Update - Quiet Title / Extinguishment: mortgage merged and ceased to be an encumbrance when the mortgage on land and the equity of redemption in the same land become united in the same person - Young Land...more

Cartel Snapshot - June 2019

McDermott Will & Emery on 6/14/2019

The Department of Justice (DOJ) Antitrust Division announced three new investigations and several developments in its other investigations, including new investigations in the commercial flooring industry, online auctions for...more

Cartel Snapshot - February 2019

McDermott Will & Emery on 2/27/2019

Q4 Update: Overview of Cartel Investigations - Although 2018 saw guilty pleas and new indictments in several ongoing Department of Justice (DOJ) investigations, the year finished by continuing a downward trend in antitrust...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 5/23/2018

The US House included the revised Volcker Rule that we’ve discussed in a broader package of Dodd-Frank reforms that it passed with bipartisan support last night. The bill—ostensibly aimed at easing restrictions on small to...more

Real Property, Financial Services, & Title Insurance Update: Week Ending March 23, 2018

Carlton Fields on 4/2/2018

Foreclosure / Amendments to Conform to Evidence: trial court erred in allowing Wells Fargo to amend its complaint during trial to conform to evidence presented of two unpled modification agreements – Tracey v. Wells Fargo...more

Fall 2017 Consumer Financial Protection Bureau Update

Burr & Forman on 10/26/2017

The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) is a U.S. government agency created by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The CFPB is the first federal agency tasked solely with the...more

Real Property, Financial Services, & Title Insurance Update: Weeks Ending September 22 & 29, 2017

Carlton Fields on 10/9/2017

REAL PROPERTY UPDATE - - Constructive Notice: a memorandum of agreement that is recorded in the official records of the county in which the property is located and refers to an unrecorded agreement entered into by the...more

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Foreclosure › Class Action

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