News & Analysis as of September 20, 2024

Foreclosure › Putative Class Actions

+ Follow

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 -

SCOTUS: “Home Equity Theft” Violates the Takings Clause

McGlinchey Stafford on 5/30/2023

Why Lienholders and Loan Servicers Should Care - In a unanimous decision, the Supreme Court held in Tyler v. Hennepin County that a county’s process of retaining the equity in a homeowner’s property constitutes a violation...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

New Class Action Claims Non-Compliance with Mortgage Forbearance Mandates

Bilzin Sumberg on 10/12/2021

Millions of homeowners have signed up for a forbearance under the CARES Act, which gives homeowners with a federally-backed mortgage loan the right to obtain a temporary reduction or suspension of mortgage payments by way 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 November 23, 2018

Carlton Fields on 12/7/2018

Real Property Update - Reverse Mortgage / Statute of Limitations: as a matter of first impression, statute of limitations for enforcing reverse mortgage begins on date the note matures, notwithstanding earlier-death of...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

Foreclosure Firm Did Not Violate FDCPA By Alleging that Mortgagor on FHA Insured Loan Was Personally Liable for Deficiency,...

Ballard Spahr LLP on 6/14/2016

A federal district court in Illinois recently dismissed a putative class action against a foreclosure firm, holding that an allegation in a foreclosure complaint that the mortgagor is personally liable for any deficiency on a...more

FHFA, Fannie and Freddie File Defensive Class Action in Nevada

Bradley Arant Boult Cummings LLP on 10/14/2015

In an effort to “avoid the cost and burden of piecemeal litigation” of hundreds of cases in the Nevada HOA foreclosure crisis, the Federal Housing Finance Agency (FHFA), Fannie Mae, and Freddie Mac (collectively,...more

Real Property, Financial Services & Title Insurance Update: Week Ending September 25, 2015

Carlton Fields on 10/1/2015

REAL PROPERTY UPDATE - Foreclosure/Standing: plaintiff failed to meet the requirement of pre-suit ownership for standing where, although assignment contained a purported effective date before complaint was filed, it was...more

Third Circuit Rules FDCPA Claims Can Be Based on Foreclosure Complaints

Ballard Spahr LLP on 4/10/2015

The U.S. Court of Appeals for the Third Circuit recently ruled that foreclosure complaints can be the basis of Fair Debt Collection Practices Act (FDCPA) claims. This decision continues the Third Circuit's expansive...more

California District Court Denies Certification Where Putative Class Members Lack Standing and Plaintiff Fails to Conduct Extensive...

Carlton Fields on 11/26/2014

The United States District Court for the Eastern District of California recently denied class certification in a case alleging wrongdoing by a loan servicer in connection with the Home Affordable Modification Program...more

Expect Focus - Regulators Are Watching: New Products, New Opportunities, New Risks - Volume III, Summer 2014

Carlton Fields on 9/30/2014

In This Issue: - IN THE SPOTLIGHT ..Standard CGL Policy Form Adds Data Breach Coverage Exclusion - LIFE INSURANCE ..Class Claims Against Lincoln National Barred in Section 419 Action – Again ...more

12 Results

View per page

Page: of 1

Foreclosure › Putative Class Actions

"My best business intelligence, in one easy email…"