News & Analysis as of September 18, 2024

Mortgages › Contract Disputes

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The term "mortgage" typically refers to a mortgage loan. A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +

Mortgagee-Protection Clauses Are Not Dead in Nevada Nonresidential Property Owners’ Associations

Snell & Wilmer on 2/20/2020

For the last several years, there has been a tremendous amount of litigation in Nevada arising from residential foreclosure sales conducted by homeowners’ associations (HOA). The main issue in those cases has been whether the...more

New Second Circuit Statute of Limitations Ruling A Benefit to Loan Originators, Brokers

Bilzin Sumberg on 2/13/2019

As originators and brokers of mortgage loans continue to get served with new lawsuits (or threatened with potential suits) related to loans that they conveyed to aggregators prior to the financial crisis of 2008, questions...more

Sixth Circuit: FDCPA Requirement to Cease Collection Pending Debt Validation Can Include Third-Party Activities

Ballard Spahr LLP on 1/17/2019

In a matter of first impression, the U.S. Court of Appeals for the Sixth Circuit has ruled that the Fair Debt Collection Practices Act (FDCPA) requirement for a debt collector to "cease collection of the debt" after receipt...more

Third DCA Rejects 57.105 Attorney’s Fees Where Plaintiff Failed to Prove Standing

Burr & Forman on 3/10/2017

On March 1st, Florida’s Third District Court of Appeal affirmatively held that a mortgage holder who fails to prove its standing to foreclose is not liable to a defendant borrower for prevailing party attorney’s fees. The...more

New York Supreme Court Holds RMBS Claims Are Timely, But Accrual Provision Unenforceable

Orrick - Finance 20/20 on 3/10/2015

On March 3, 2015, Justice Marcy S. Friedman of the New York Supreme Court granted in part and dismissed in part Defendant Greenpoint Mortgage Funding, Inc.’s Motion to Dismiss an action in which it was said to have...more

First Department Affirms Dismissal of Ambac’s Contract Claims Against EMC

Orrick - Finance 20/20 on 10/30/2014

On October 16, the Appellate Division, First Department of the Supreme Court of New York affirmed the dismissal of Ambac Assurance Corporation’s breach of contract claims against EMC Mortgage arising out of an RMBS...more

New York Appellate Division Affirms Denial of Merrill Lynch’s Motion to Dismiss Repurchase Claims

Orrick - Finance 20/20 on 6/25/2014

On June 17, New York’s Appellate Division, First Department intermediate appellate court affirmed the denial of Merrill Lynch’s motion to dismiss a repurchase suit brought by two RMBS Trusts. The plaintiff-trusts allege that...more

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