Condo Adviser: What is 'FHA approved,' exactly?
Bill on Bankruptcy: The Market's Unquenchable Thirst for Junk
In a recent decision, Lueras v. BAC Home Loans Servicing, LP, 2013 Cal. App. LEXIS 886, the California Court of Appeal returned to the general rule that, absent unique circumstances giving rise to a duty of care, lenders do...more
Among the many changes in the financial services industry, two important events occurred this year that effectively signaled the extinction of deficiency judgments in loans secured by residential property.
The Chancery Division recently handed down its judgment on a hedge fund law suit brought against an agent bank for failing to disclose certain information regarding the borrower’s declining financial health and the occurrence...more
On September 18, Alabama Governor Robert Bentley announced new State Banking Department regulations that will create a state database of payday loans made to borrowers. Under the Alabama Deferred Presentment Services Act...more
On August 14, the U.S. Court of Appeals for the Sixth Circuit affirmed a district court’s dismissal of claims by a borrower of Iraqi origin that a bank violated ECOA when it refused to restructure the borrower’s loan. 16630...more
A California Court of Appeal reversed a trial court’s decision and held that a borrower may sue a bank for wrongful foreclosure when an attempted transfer of loan to a securitized trust occurred after the trust’s closing...more
A lender who held a second deed of trust on real property agreed to a short sale of the property after the borrower agreed to remain obligated to repay the balance of the home equity loan. The court of appeal upheld the...more
A California Court of Appeal recently addressed the issue of whether the anti-deficiency protections of Code of Civil Procedure (“CCP”) section 580b applied after a borrower, with her lender’s approval, sold her residence in...more
A recent decision of the Seventh Circuit Court of Appeals has significant implications for lenders in commercial loan transactions and for law firms that give legal opinions about the enforceability of loan documents....more
One of the main exam strategies available to the struggling pupil is to pepper an essay with long words, giving complex names to simple ideas. Are you proposing to consider both sides of an argument, or are you viewing the...more
The institutional debt market for energy projects is fired up, particularly for Term B Loan refinancing....more
On March 24, 2010, the United States Department of Labor, Wage & Hour Division (“WHD”) issued an “Administrator’s Interpretation” declaring that employees who perform the typical job duties of a mortgage loan officer do not...more
With property values slowly increasing and borrowers beginning to see the light at the end of a long recession, the demand for renewal loans is slowly building. To that end, let’s briefly review a few of the key rules...more
In an age of historically low interest rates, lenders rely on fee income and other devices to enhance their returns. One of these mechanisms -- and one that can have dramatic consequences for a borrower -- is the inclusion of...more
In an effort to summarize the highlights of the U.S. Department of Housing and Urban Development (HUD) LEAN E-mail Blasts that we receive, and rarely have time to review in a timely fashion, we at Pepper are providing this...more
A recent California case appears to contradict the general rule holding that a successor bank that has acquired a commercial loan through an FDIC receivership may owe a duty to a commercial borrower to reasonably investigate...more
For those companies who pay attention to the always evolving regulatory environment as we do at Brownstein Hyatt Farber Schreck, you have likely heard the debate regarding the validity of rules promulgated by organizations...more
In This Issue:
- Missouri Foreclosures: A Changing Landscape?
- Missouri Law on Non-Judicial Foreclosure: A Primer Measuring Deficiencies Under Missouri Law
- Fischer & Frichtel
- Sunrise Farms
Last week, the Eleventh Circuit Court of Appeals held that lenders in syndicated credit facilities do not have standing to enforce the funding commitment that other lenders owe to the borrower in the absence of specific...more
In 1935, the California Supreme Court in Bank of America National Trust and Savings Ass’n v. Pendergrass prohibited a borrower from introducing external or parol evidence to demonstrate fraud in connection with an agreement...more
Lender liability claims generally arise in one of following contexts: (i) claims seeking recovery of damage or "leverage" to accept discounted payoffs; (ii) counterclaims to foreclosure/receivership/guarantor actions; or...more
The Third Circuit has now joined the Fourth Circuit in ruling that a lawsuit seeking rescission filed more than there years after loan consummation is timely as long as the borrower sent a written notice of rescission within...more
A borrower can bring a lawsuit seeking rescission more than three years after loan consummation as long as the borrower has sent a written notice of rescission within the three-year period, the U.S. Court of Appeals for the...more
California courts have to date been reluctant to inject themselves into the comprehensive nonjudicial foreclosure scheme enacted by the Legislature at Civil Code section 2924 et seq....more
Rule lists criteria that lenders must consider in determining a prospective borrower has the ability to repay a loan and defines Dodd-Frank's concept of a "qualified mortgage."
On January 10, the Consumer Financial...more