Summary: Mortgagees and other lienholders whose proper address does not appear in a recorded mortgage or lien may not receive notice of a pending tax deed sale and may therefore lose collateral. A recent Florida court held...more
I have recently encountered several situations in which local governments are claiming, under ordinances they have enacted, that their liens and fines have “superpriority” status over existing mortgages, regardless of when...more
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
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
In recent months, homeowners associations (HOAs) in Nevada have been foreclosing on their liens for delinquent assessments. HOAs are a part of everyday life for homeowners and lenders in Nevada, but the recent trend of HOA...more
Executive Summary: North Carolina implements “lien agent” law for construction projects. The North Carolina General Assembly recently enacted significant changes to North Carolina's mechanics lien laws. These changes...more
In This Issue: -AC31211 - Aguinaldo v. Warner -AC33771 - Thompson Gardens West Condominium Assn., Inc. v. Masto -AC33850 - Unifund CCR Partners v. Schaeppi -AC33400 - Samnard Associates, LLC...more
The Consumer Financial Protection Bureau (“CFPB”) has issued amendments to Regulation B requiring creditors to provide to applicants free copies of all appraisals and other written valuations developed in connection with an...more
The Consumer Financial Protection Bureau has issued a final rule to implement Dodd-Frank amendments to the Equal Credit Opportunity Act that require creditors to provide to a first lien mortgage applicant a copy of all...more
Yesterday, Moody’s issued a Sector Comment expressing concerns with respect to proposed REO-To-Rental deals structured to utilize a collateral package comprised of equity-pledges in the SPV property owners in lieu of...more
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