News & Analysis as of

Kentucky County Clerks Cannot Sue MERS for Failure to Record Mortgage Assignments, Sixth Circuit Rules

The U. S. Court of Appeals for the Sixth Circuit recently affirmed the district court’s dismissal of a putative class action filed against Mortgage Electronic Registration Systems (MERS), its parent company, and 15 financial...more

California Court Holds That Borrowers May Enjoin A Foreclosure If A Lender Fails To Meet Servicing Guidelines

In Pfeiffer v. Countrywide Home Loans, --- Cal.Rptr.3d ----, 2012 WL 6216039 (Dec. 13, 2012), mortgage borrowers filed a damages claim against a trustee for violating the federal Fair Debt Collection Practices Act (“FDCPA”)...more

Ringing in the New Year in 2013: California’s Homeowner’s Bill of Rights Law Takes Effect

Dubbed as the “Homeowner’s Bill of Rights,” on July 11, 2012, California Governor Jerry Brown signed into law AB 278/SB 900 marking the first U.S. state to adopt into law the residential mortgage foreclosure reform principles...more

California Appeals Court Enjoins Nonjudicial Foreclosure For Lenders’ Failure To Comply With HUD Servicing Requirements

On December 13, the California Court of Appeal for the First Appellate District held that the HUD servicing requirements were incorporated by reference into the borrowers’ FHA deed of trust and served as conditions precedent...more

Navigating Non-Judicial Foreclosures -- After Bain v. Metropolitan Mortgage Group, Inc., et al.

Originally published in Washington Bankers' Issues & Answers - November/December 2012. In August, the Washington State Supreme Court weighed in on the role of Mortgage Electronic Registration Systems, Inc. (“MERS”) in...more

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