Foreclosure Lenders

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

Title Insurance: What is its Value?

As I type this blog post, I am sitting at my desk with a four-inch-thick binder filled with title insurance forms—form policies, form endorsements, premium rate tables, survey requirements, etc.—and it occurs to me that many...more

Resolving Shopping Center Foreclosures in Florida - Considerations for Lenders

Shopping centers in Florida—and across the country—are increasingly facing financial stress due to factors such as Internet commerce and rent pressures. Rents generated from a shopping center are usually pledged as...more

Surviving the Zombie [Foreclosure] Apocalypse

Preparing For A World When Lis Pendens Protections Are All But Ober - “BEWARE REAL PROPERTY LITIGATORS” warns a former chair of the Real Property, Probate and Trust Law Section of the Florida Bar. This advice, given...more

CFPB Unveils New Loss Mitigation Principles for Lenders

With the end of the Department of Treasury’s Home Affordable Modification Program (HAMP) coming in January 2017, the Consumer Financial Protection Bureau (“CFPB”) has released a set of four principles for financial...more

Court Affirms Electronic Notes are Enforceable in Florida

Recently, the District Court of Appeal for the Fourth District of Florida affirmed that electronic signatures are enforceable against a borrower in a foreclosure action. On April 1, 2008, two borrowers executed an electronic...more

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

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

Careful Who You Trust. A Lender Can Be Liable For The Negligence And Misrepresentations Of Its Loan Servicers, Even Absent Any...

In the recent case of Daniels v. Select Portfolio Serving, Inc., the California Court of Appeal has held that a lender may be liable for the negligence and misrepresentations of the lender’s servicer, without any contractual...more

Supreme Court of Texas; Recent Texas Home Equity Lending Decisions

On May 20, 2016, the Supreme Court of Texas (the "Court") issued its opinions in two cases involving Texas home equity lending – Garofolo v. Ocwen Loan Servicing and Wood v. HSBC Bank USA. The decisions are important for the...more

Risks of Withdrawing a Case: Reciprocity of Attorneys’ Fees in Connecticut Consumer Contract Default Actions

Lenders beware! If you have brought an action to seek recovery of a defaulted consumer loan whether it be foreclosure or a breach of contract action, Connecticut has a statutory scheme which provides that the debtor, if it...more

Money, Dirt and Steel: Spring 2016 Newsletter

A snapshot of noteworthy cases from the Spring terms of the North Carolina appellate courts related to lending practices, property rights and construction in North Carolina - Money - FORECLOSURE: - Lender...more

A Trifecta of Legal Victories for Lenders in Florida

Deutsche Bank Trust Co. v. Beauvais, Case No.: 3D14-575 (Fla 3rd DCA April 13, 2016) - Based on Beauvais, lenders should take a look at their loan documents, paying particular attention to any non-waiver and...more

Recent Arizona Case Law and Other Developments Affecting Real Estate Lending

Recent Arizona Case Law - Dobson Bay Club II DD, LLC v. La Sonrisa De Siena, LLC (AZ Court of Appeals 2016). The borrowers signed a $28.6 million note and DOT to CIBC. The note required interest-only payments with a...more

Bankruptcy and Creditors' Rights News: Distressed Assets in Connecticut: What to Know Before Jumping In

There are many benefits for out of state lenders or investors looking to engage in business in Connecticut, one of the wealthiest (per capita) states in the United States of America. For example, Connecticut has relatively...more

Taxpayer Entitled to Capital Loss from Property Foreclosure for Year of Sale, Not When Proceeds Received

Evans v. Commissioner, T.C. Memo. 2016-7, was recently decided. The taxpayer in this case was an individual who worked full-time at a real estate development firm. The taxpayer also purchased residential real estate...more

Georgia Supreme Court Answers “Yes”—A Guarantor May Waive Foreclosure Confirmation

In a decision issued on February 22, 2016, the Supreme Court of Georgia ruled that a guarantor can waive by contract the requirement for a lender to obtain confirmation of a foreclosure sale before pursuing the guarantor for...more

Highmark Properties Revisited: Lender Credit Bids

The dust has yet to settle on the landmark decision of High Point Bank & Trust Co. v. Highmark Properties, LLC, 776 S.E.2d 838 (N.C. 2015). Before delving into the decision that should serve as a harbinger of imminent and...more

A Guaranteed Defense: An Overview of the North Carolina Supreme Court’s Decision in High Point Bank & Trust Co. v. Highmark...

Until recently, a common question that arose during foreclosure deficiency actions was whether a guarantor on a loan could raise the anti-deficiency defense set forth in section N.C.G.S. § 45–21.36. This past fall, the North...more

Community Banking Excellence - First Quarter 2016

In This Issue: - Another Perspective: We interviewed Michelle Crook, CFO of the Bank of Botetourt, and Chris Snodgrass, CFO for Bank of Marion, for our Community Banking Excellence this quarter. We wanted to know...more

Creditors Rights Suffers a Major Depression in North Carolina

So, What can a Lender Count on from a Guarantor? - In 1933, the North Carolina legislature in reaction to the Great Depression enacted certain defenses against alleged abuses by lenders exercising remedies under...more

New Fifth Circuit Opinion is a Warning to Lenders Using “As Is” Waivers in Real Estate Contracts

In Jones v. Wells Fargo Bank, N.A., No. 15-30031, — F. App’x —, (5th Cir. Sept. 29, 2015), the Fifth Circuit reversed the dismissal of a lawsuit against Wells Fargo for its alleged failure to disclose known mold problems,...more

11th Circuit Holds Consumer Lenders Can’t Include Estimated Expenses In Pre Closing Reinstatement or Payoff Letters; What You...

Consumer borrowed money from Lender. Consumer defaulted, and Lender began to foreclose, including all the usual steps: arranging for property inspection, hiring counsel, etc. After about a year, Consumer sought to reinstate...more

Dodd-Frank News: November 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

FHA Withdraws Proposed Rule Establishing Insurance Claim Deadline

Recently, the Federal Housing Administration (FHA) withdrew part of a proposed rule that sought to establish a maximum time period within which an FHA approved mortgagee must file a claim with FHA for insurance benefits. The...more

Guarantors Can Use Anti-Deficiency Statute in North Carolina

The North Carolina Supreme Court recently handed down the final word in a dispute over whether guarantors get the benefit of the state’s anti-deficiency statute after the lender bids on and buys the real property at a...more

Community Banking Excellence - Issue 3, 2015

In This Issue: - Another Perspective - James C. Cherry, Chief Executive Officer, Park Sterling Bank: With more than three decades of experience in banking in North Carolina and Virginia, Park Sterling's CEO James C....more

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