News & Analysis as of

Foreclosure › Fannie Mae › Borrowers

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 -
Alston & Bird

Fannie Mae Issues Guidance in Response to New York Foreclosure Abuse Prevention Act

Alston & Bird on

What Happened? On March 13, 2024, Fannie Mae issued Servicing Guide Announcement (SVC-2024-02) (the “Announcement”), which announced, among other things, updates to Fannie Mae’s Loan Modification Agreement (Form 3179), with...more

Kelley Drye & Warren LLP

Real Estate Industry Alerts Tracker - January 2021 Issue

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Federal COVID-19 Relief Bill Passes - On December 27, 2020, President Trump signed into law the Coronavirus Response and Relief Supplemental Appropriations Act (the “Act”), which includes numerous additional relief: ...more

Balch & Bingham LLP

Alabama Appellate Court Voids Foreclosures For Using The Word “May”

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This past June, in Barnes v. U.S. National Bank, No. 2180699, the Alabama Court of Civil Appeals held that a mortgagee’s notice of acceleration failed to strictly comply with the notice provisions contained in Paragraph 22...more

McGlinchey Stafford

The Federal Agencies and Enterprises Extend Foreclosure Moratoriums Again

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Three federal agencies who make, guarantee, and insure mortgage loans, the Department of Housing and Urban Development (HUD)’s Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), and the Department...more

Orrick, Herrington & Sutcliffe LLP

Deed of Trust Provisions Allowing Lenders/Servicers to Enter, Maintain, and Secure Encumbered Properties May be Unenforceable...

Orrick, Herrington & Sutcliffe LLP on

On July 7, 2016, the Supreme Court of the State of Washington issued its opinion in Jordan v. Nationstar Mortgage, LLC, which, prior to foreclosure, may prevent servicers from securing property after a default or, at least,...more

MoFo Reenforcement

FHFA Announces Home Modification Program

MoFo Reenforcement on

On April 14, 2016, the Federal Housing Finance Agency (“FHFA”) announced the launch of a principal reduction program for first-lien mortgages that are owned or guaranteed by Fannie Mae and Freddie Mac. According to the...more

Stinson LLP

Minnesota Supreme Court Recognizes New Private Right Of Action Against Residential Mortgage Loan Servicers

Stinson LLP on

On April 2, 2014, the Minnesota Supreme Court in Gretsch v. Vantium Capital, Inc. recognized a new private right of action against residential mortgage loan servicers who breach their servicer participation agreements with...more

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