News & Analysis as of

Lenders Florida

Sheppard Mullin Richter & Hampton LLP

New Florida Law Overhauls Consumer Finance Loan Interest Rate Requirements

Florida recently enacted H1347, revising the state’s criteria for what constitutes usurious consumer loans. The Florida Consumer Finance Act prohibits charging an interest rate of more than 18% per year on a loan of...more

Adams and Reese LLP

Lenders: Keep Your Original Promissory Notes Safe; Loan Purchaser Fails to Recover on Note Claims in Florida Decision

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A recent opinion out of the Florida Fifth District Court of Appeal makes clear that the failure of a lender or its successor in interest to introduce and authenticate original promissory notes at trial may result in the...more

Sheppard Mullin Richter & Hampton LLP

Florida Introduces “True Lender” Legislation

On October 9, Florida introduced SB 146, which amends the Florida Consumer Finance Act (CFA), and joins other states that have passed laws characterizing certain nonbanks as the “true lender” of loans made through a bank...more

Bilzin Sumberg

4 Trends That Will Shape Florida Real Estate in 2024

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As commercial real estate markets across the U.S. cope with rising costs and slowing demand, Florida has been a rare bright spot. The Sunshine State has welcomed a record number of people and businesses in recent years, and...more

Sheppard Mullin Richter & Hampton LLP

CFPB Statement of Interest Highlights Focus on Discriminatory Access to Credit

On April 14, the CFPB filed a statement of interest in a case currently pending before the United States District Court for the Southern District of Florida in an attempt “to help protect consumers from discriminatory...more

King & Spalding

Florida Bankruptcy Court Holds That Lenders Must Specify Post-Judgment Interest Rates in Addition to Post-Default Rates in Loan...

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On November 21, 2022, the U.S. Bankruptcy Court for the Southern District of Florida sustained the debtors’ objection to mortgage lender Benworth Capital Partners, LLC’s proof of claim and held that the state’s statutory...more

Lowndes

A Primer on Florida Alcoholic Beverage Licenses

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If you are buying or financing properties with businesses selling alcoholic beverages, Florida’s regulatory requirements may seem daunting. To successfully navigate the complexities of Florida alcoholic beverage licensing, a...more

Baker Donelson

Florida Update – No Standing, No Fees is Dead: Borrowers Can Recover Fees When They Prevail on a Standing Defense

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In an opinion issued on December 31, 2020, the Florida Supreme Court resolved a certified conflict between several of the Florida appellate courts as to whether borrowers who prevail on an argument that the lender lacked...more

McGlinchey Stafford

State COVID-related Foreclosure and Eviction Moratorium Updates

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Alert October 23, 2020 Due to the economic impacts of COVID-19, many states have issued moratoriums on foreclosures and evictions. Some of those moratoriums have expired. However, even if a lender is now able to obtain a...more

McGlinchey Stafford

Florida and Texas Extend Borrower Protections Through September

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Florida’s Governor Desantis has extended Executive Order Number 20-180 to 12:01 a.m. on October 1, 2020. The Executive Order, titled “Limited Extension of Mortgage Foreclosure and Eviction Relief” provides, in relevant part: ...more

BakerHostetler

Florida Passes Bill to Stop Bankruptcy Debtors From “Having Their Cake and Eating It Too”

BakerHostetler on

On March 20, Florida Governor Rick Scott signed Senate Bill 220 into law. The bill is designed to limit the ability of defendants in foreclosure proceedings to keep contesting the foreclosure after agreeing, in bankruptcy, to...more

Balch & Bingham LLP

Still No “Free House” in Florida – Florida Supreme Court Denies Motions for Rehearing in Bartram

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On March 16, 2017, the Florida Supreme Court solidified the position of its November 3, 2016 opinion in Bartram v. U.S. Bank, N.A., SC14-1266, 2016 WL 6538647 by denying the motions for rehearing filed in response to the...more

Lowndes

Appellate Court Restores Lis Pendens Protections in Do-Ober Decision

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The tides have turned in Ober v. Town of Lauderdale-By-The-Sea as the Fourth District Court of Appeal recently reversed its decision and revived the full impact of Florida’s lis pendens statute. By withdrawing and replacing...more

Shutts & Bowen LLP

New court decision affects Florida foreclosures

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Until late 2016, Florida appellate courts had not considered what happens to liens placed on property between a foreclosure final judgment and a foreclosure sale. However, an August 24, 2016 opinion issued by the Fourth DCA...more

Carlton Fields

Resolving Shopping Center Foreclosures in Florida - Considerations for Lenders

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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

Lowndes

Surviving the Zombie [Foreclosure] Apocalypse

Lowndes on

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

Burr & Forman

Burr Commentary: Florida’s District Courts of Appeal Continue to Tighten Standing Requirements for Foreclosures

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The UCC was supposed to make enforcing negotiable instruments a simpler, more streamlined process. It has proven anything but in Florida.  Continuing a trend that now stretches back years, mortgage lenders have had an...more

Burr & Forman

Chorus of Critics Grows Again for Third DCA’s Beauvais Opinion on Statute of Limitations, Rehearing Granted by Third DCA

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The opinion of Florida’s Third District Court of Appeal in Deutsche Bank Trust Co. Americas v. Beauvais, No. 3D14-575, 2014 WL 7156961 (Fla. 3d DCA Dec. 17, 2014) has been a lightning rod for criticism from federal courts in...more

Bilzin Sumberg

Sunset of Distressed Condominium Relief Act Extended

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The Distressed Condominium Relief Act enacted as Part VII of the Condominium Act in 2010 (“Act”) was a temporary measure to encourage absorption of unsold condominium units arising as a result of the Great Recession. This...more

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