News & Analysis as of September 25, 2024

Banking Sector

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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 -

Rock, Paper, Scissors: Virginia Supreme Court Adopts Partial Subordination Rule to Interpret Subordination Agreements

Rosenberg Martin Greenberg LLP on 2/12/2020

Everyone is familiar with the “Rock, Paper, Scissors” method of resolving disputes where scissors cut paper, paper covers rock, and rock breaks scissors. In Futuri Real Estate, Inc. v. Atlantic Trustee Services, the Virginia...more

Everyone Wins When a Foreclosure Sale Generates Excess Proceeds

Snell & Wilmer on 7/16/2018

When a foreclosure sale generates more money than needed to pay off the lien, the excess proceeds usually go first to creditors in the order of their priority, and second to the owner after creditors are paid in full. So, in...more

Recent Arizona Commercial Law Cases

Snell & Wilmer on 7/18/2017

Over the last few months there have been several significant commercial law cases in Arizona. These have included four Court of Appeals and three Supreme Court cases, each addressing common loan document provisions and...more

Nev. Supreme Court Holds HOA Foreclosure Statute Constitutional, Splits with Ninth Circuit

Ballard Spahr LLP on 2/6/2017

The Nevada Supreme Court has upheld the constitutionality of Nevada's pre-2015 statutory scheme for homeowners association (HOA) foreclosures. This decision contradicts the Ninth Circuit Court of Appeals' conclusion that the...more

District Court Holds That a Late Assignment to a Securitized Trust Is Voidable, Not Void, and Does Not Permit a Claim for Wrongful...

Ballard Spahr LLP on 10/13/2016

The U.S. District Court for the Northern District of California has issued an opinion in Spangler v. Selene Finance, LP, rejecting a borrower’s allegation that an assignment of a deed of trust recorded after a foreclosure...more

Nevada Supreme Court Accepts Certified Question in HOA Lien Litigation Case – Should the SFR Decision Apply Retroactively?

Ballard Spahr LLP on 7/26/2016

We previously reported on the Nevada Supreme Court’s decision in SFR Investments Pool 1, LLC. v. U.S. Bank, N.A., holding that a homeowners association (HOA) lien is a true super-priority lien that upon foreclosure...more

Secured Lenders – Stay on Top of the Law or Proceed at Your Own Risk

Poyner Spruill LLP on 10/6/2015

For years, the typical post-default strategy of secured lenders has been to foreclose the collateral through the power-of-sale contained in the deed of trust, credit the foreclosure proceeds to the outstanding loan balance,...more

Notice Me: The New Notice Requirements for HOA Lien Foreclosures in Nevada

Bradley Arant Boult Cummings LLP on 7/8/2015

In a previous blog post, we reported on Senate Bill 306, passed by Nevada Governor Brian Sandoval on May 28, 2015. The legislation redresses the substantial harm caused by SFR Investments Pool 1, LLC v. U.S. Bank, N.A. In SFR...more

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Foreclosure › Deed of Trust › Banking Sector

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