Foreclosure, Mortgages | JD Supra Law News

Florida to Government: Your Lien Doesn't Foreclose This Old Mortgage

by Michael Starks, Sarah-Nell Walsh | Baker, Donelson, Bearman, Caldwell &... on 5/22/2013

The Florida Supreme Court has ruled that cities cannot create ordinances that subject prior recorded mortgages to their subsequently recorded county or governmental liens, because it conflicts with Florida's state statutes on...more

Georgia's Long-Awaited Ruling Finds in Favor of Lenders

by Joseph "Jay" Buller, Jonathan Green, Dylan Howard, Scott Michalove | Baker, Donelson, Bearman, Caldwell &... on 5/22/2013

Today, the Georgia Supreme Court, in You v. JP Morgan Chase Bank, N.A. et al., S13Q0040, held that the assignee of a security deed can conduct a non-judicial foreclosure sale without holding or owning the underlying...more

Court Upheld A Waiver Of Property Code Rights And Affirmed A Deficiency Judgment Based On The Foreclosure Price

by David Johnson | Winstead PC on 5/14/2013

In New Millennium Homes, Inc. v. Texas Community Bank, NA, a debtor appealed a summary judgment granted to a lender based on a deficiency claim. No. 09-12-00073-CV, 2013 Tex. App. LEXIS 1598 (Tex. App.—Beaumont February 21,...more

Foreclosure Scams Rampant in Florida

by Aaron Kase | Lawyers.com on 5/1/2013

A Florida man was recently sentenced to 26 years in prison for foreclosure and short sale fraud. John Lebron, 33, was convicted last week of setting up a complex scheme to buy and sell foreclosed houses, make money on each...more

Minnesota Supreme Court Affirms That Foreclosing Parties Must Record Mortgage Assignments Prior To Initiating Foreclosure By...

by BuckleySandler LLP on 4/29/2013

On April 17, the Minnesota Supreme Court affirmed an intermediate appellate court ruling that held (i) a strict compliance standard applies to Minnesota’s foreclosure by advertisement process, and (ii) a foreclosure by...more

Failure to Comply with Minnesota's Statutory Requirements in Foreclosure by Advertisement Costs Lender

by Winthrop & Weinstine, P.A. on 4/25/2013

Lenders foreclosing by advertisement in Minnesota must comply with many technical requirements. One requirement is "that the mortgage has been recorded and, if it has been assigned, that all assignments thereof have been...more

Illinois Supreme Court Issues New Rules Affecting Mortgage Foreclosures

by Mark Birnbaum, David Gold, Bates McIntyre Larson | Perkins Coie on 4/25/2013

The Illinois Supreme Court has issued new court rules that become effective on May 1, 2013, modifying the evidentiary requirements for obtaining foreclosure judgments, among other things. The rules are the result of the work...more

HUD Updates FHA Flood Zone Guidance, Issues Lender Insurance Program Guidance

by BuckleySandler LLP on 4/23/2013

On April 11, HUD issued Mortgagee Letter 2013-11, which amends prior guidance related to the origination and servicing of FHA-insured loans in declared disaster areas. The letter stresses that prior guidance requiring a...more

HB 87 – Florida’s Foreclosure Bill Is Back (Part 2)

by Douglas L. Waldorf, Jr., Sara White | Rogers Towers on 4/23/2013

In a prior post, we discussed two of the four main components of HB 87, the foreclosure reform bill presently under consideration in Florida. The remaining sections of the bill which merit consideration involve a revised...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 19, 2013

by BuckleySandler LLP on 4/22/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - CREDIT CARDS - Excerpt from Consumer...more

State Law Update: Indiana Amends Lien Release Provisions

by BuckleySandler LLP on 4/18/2013

On April 1, Indiana enacted a bill to retroactively amend certain lien release provisions. The bill, HB 1079, provides that if the record of a mortgage or vendor’s lien was created before July 1, 2012 and does not show the...more

Foreclosure Tip #1: Inspections – Do It Before You Own It

by Keith Mullen | Winstead PC on 4/17/2013

In some parts of the country, a recovering local economy means the special asset (or problem loan) groups are reducing staff, as loan production groups come back to life. Leaving the special asset group under-staffed could...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 12, 2013

by BuckleySandler LLP on 4/15/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PRIVACY/DATA SECURITY - CRIMINAL...more

Ballard Spahr Obtains Win for Servicers Holding Notes

by Richard J. Andreano, Jr., Robert Scott, John D. Socknat, Gary Tepper, Michael S. Waldron | Ballard Spahr LLP on 4/12/2013

The Maryland Court of Appeals has ruled in Deutsche Bank National Trust Co., Trustee v. Brock that a servicer possessing an original promissory note endorsed in blank — the most common type of endorsement for thousands of...more

Can bankruptcy save my house from foreclosure?

by Malcolm Ruthven on 4/8/2013

I'm behind in my house mortgage payments and the bank is threatening to foreclose. Can bankruptcy save my house?...more

Mortgage-Related Litigation Declined in Q4, But Remains at Historic Levels

by Christopher J. Willis | Ballard Spahr LLP on 4/5/2013

Mortgage Daily's Fourth Quarter 2012 Litigation Index indicates that while litigation activity in the mortgage industry has been declining, there are signs that it could remain above historic levels as foreclosure, investor,...more

Ohio Appeals Court Affirms Dismissal Of City’s Public Nuisance Suit Against Banks

by BuckleySandler LLP on 4/5/2013

On March 21, the Court of Appeals of Ohio, Eighth Appellate District, affirmed a trial court’s dismissal of a suit by the city of Cleveland, which sought damages from several financial institutions involved in the creation of...more

Mortgage Foreclosure Mediation Program Terminated By Florida Supreme Court

by Messer & Caparello, P.A. on 4/4/2013

Florida has the highest foreclosure rate in the country, with some sources showing a 3.11% foreclosure rate in 2012 – more than double the national average. At the end of 2009, with nearly 500,000 pending foreclosures and a...more

Refresh Your Mortgage Loan Documents with these Tech Topics

by Keith Mullen | Winstead PC on 4/3/2013

Most commercial real estate loan documents give meaning to the phrase “real estate is old as dirt.” Why? Because just as dirt doesn’t change, commercial mortgage loan documents largely ignore the impact of technology on the...more

Fannie Mae Announces Miscellaneous Servicing Policy Updates

by BuckleySandler LLP on 4/2/2013

On March 27, Fannie Mae issued Servicing Guide Announcement SVC-2013-06, which announces policy updates regarding (i) redelivery of balloons, (ii) property value ordering process, and (iii) Mortgage Release and REOgram...more

Standing: An Affirmative Defense To Mortgage Foreclosure

by Schecter Law on 4/1/2013

To have standing to foreclose, it must be demonstrated that the plaintiff holds the note and mortgage in question. Mazine v. M & I Bank, 67 So. 3d 1129, 1132 (Fla. 1st DCA 2011). The plaintiff must prove that it had standing...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - March 29, 2013

by BuckleySandler LLP on 3/29/2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - CREDIT CARDS - PAYMENTS -...more

Servicemembers Civil Relief Act: Provisions Affecting Banking Institutions

by Angela Beblo, Brienne Marco | Spilman Thomas & Battle, PLLC on 3/25/2013

According to December 2012 data from the federal Bureau of Labor Statistics, the unemployment rate for Gulf War Era veterans, hovering around eight percent, remains higher than the national rate. Over the last decade, more...more

Rogers Towers: HB 87 – Florida’s Foreclosure Bill is Back

by Douglas L. Waldorf, Jr., Sara White | Rogers Towers on 3/22/2013

On February 7, the House Civil Justice Subcommittee voted to pass Florida’s newest bill designed to improve the efficiency of mortgage foreclosures: House Bill 87. While it is still early in the legislative process, this is a...more

Mortgage Banking Update - March 21, 2013

by Richard J. Andreano, Jr., Stefanie Jackman, Bruce Johnson, Anthony Kaye, Barbara S. Mishkin, Allison Mollenhauer, Amy Mushahwar, Burt M. Rublin, Trevor Salter, Matthew Saunig, more +John D. Socknat, Mercedes Kelley Tunstall, Abran Vigil, Michael S. Waldron, Shane Jasmine Young | Ballard Spahr LLP on 3/21/2013

In This Issue: - Uniform State Test Implementation Nearing - Mortgage Servicer's Alleged Failure To Be Licensed Subjects Company to Claims under State and Federal Debt Collection Statutes - Sixth Circuit...more

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