Bill on Bankruptcy: Appeals Court Changes the Law on Fraud
Bill on Bankruptcy: What's in the $83M ResCap Examiner's Report?
Bill on Bankruptcy: The Market's Unquenchable Thirst for Junk
Critical Mortgage Regulatory Updates by the Consumer Financial Protection Bureau for 2013 and 2014
This week, the First District Court of Appeals joined the Fourth District Court of Appeals in holding that Florida’s five-year statute of limitation (SOL), under Fla. Stat. § 95.11(2)(c), did not bar the lender’s second...more
In late July, another Florida appellate court took a sizable chunk out of foreclosure defense attorneys’ litigation playbook, holding that substantial compliance, rather than strict compliance, is the prevailing standard to...more
Foreclosure defense and bankruptcy often go hand in hand, but sometimes it seems like the left hand doesn’t talk to the right. This has proven especially common with bankruptcy plans that propose to “surrender” real property...more
Foreclosure: non-borrower owner of real property as tenants-in-common with borrower not required to sign mortgage for borrower to encumber only his interest in the property and non-borrower’s signature on mortgage reflected...more
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
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
Appellate Court Advance Release Opinions -
AC36506 - Sidorova v. East Lyme Board of Education -
Due to budget cuts, the Board of Education laid off the plaintiff who was a tenured French teacher. She sued for...more
Beginning October 1, 2015, lenders in Nevada will have a much-needed right to redeem properties sold at homeowners association (HOA) foreclosure sales for pennies on the dollar. Specifically, lenders and homeowners will have...more
By amending a statute that limits deficiency judgment amounts in certain cases, Nevada lawmakers have attempted to restore balance as the law applies to commercial properties. The amendments follow a recent wave of litigation...more
Legislation liberalizing Louisiana foreclosure law was signed by Louisiana’s governor on June 5. House Bill 697 becomes effective on August 1, 2015.
One particular area where lenders strive to use technology involves...more
On June 17, 2015, Governor Greg Abbott signed House Bill 2067, which amends the Texas Civil Practice and Remedies Code to provide a clear mechanism for lenders to unilaterally rescind acceleration of a defaulted loan. ...more
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
A Rhode Island superior court recently ruled that, pursuant to R.I. Gen. Laws § 34-27-3.2, foreclosing lenders are required to send mediation notices in any foreclosure initiated after the effective date (October 2014)...more
Notwithstanding Michigan’s 2012 Nonrecourse Mortgage Loan Act (NMLA), which provides that solvency covenants in nonrecourse loans unenforceable, in Borman, LLC v. 18718 Borman, LLC, a third-party purchaser of a foreclosed...more
The Washington Supreme Court issued an opinion today affirming the right of a lender to obtain a deficiency judgment against a commercial guarantor following a nonjudicial foreclosure. Divisions One and Two of the Washington...more
Every week, courts around the United States issue decisions addressing aspects of civil UDAAP claims.
In an effort to illuminate the UDAAP standards, below is a sampling of some of this week’s UDAAP decisions on the...more
In This Issue:
- Conducting a Pre-Employment Background Check: Employers Beware
- Should You be Engaging in Comparative Advertising to Promote Your Business?
- Real Estate Lenders Relief From Serial...more
While most commercial leases contain a requirement that the tenant will execute a “Subordination, Non-Disturbance and Attornment Agreement,” commonly referred to a an “SNDA,” a majority of tenants who have signed such leases,...more
When a lender seeks to foreclose under a deed of trust, often a borrower who does not have the resources or incentive to resist the foreclosure will offer the lender a deed in lieu of foreclosure. This can be an attractive...more
Under California’s non-judicial foreclosure statutes, a defaulting borrower cannot enjoin a lender’s initiation of foreclosure proceedings by asserting that the lender lacks standing. (Keshtgar v. U.S. Bank, N.A. (2014) 192...more
While the Great Recession appears to be slowly receding, rising oil costs and other price increases threaten to choke off what had appeared to be an economic recovery. Accordingly, foreclosures may become more frequent in the...more
The recently issued opinion of the Colorado Court of Appeals, in Armed Forces Bank v. Hicks, 2014 COA 74. No. 13CA0875 (June 5, 2014), is significant for commercial real estate lenders.
In Hicks, the Bank was the...more
On June 9, the U.S. District Court for the Central District of California denied a mortgage lender’s motion to dismiss the City of Los Angeles’s Fair Housing Act suit, the second such denial by the same judge in recent weeks....more
Cities and counties that have experienced increased foreclosure and vacancy rates in the aftermath of the housing market crash of 2007-2008, perhaps emboldened by recent court decisions, have recently filed several new...more
The Virginia Supreme Court recently expanded the grounds under which a private borrower can sue a lender for violations of HUD regulations. In Squire v. Virginia Housing Development Authority, a decision issued on April 17,...more
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