News & Analysis as of

Mortgages Foreclosure

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 +
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 uses that property as collateral for the loan. less -

Upcoming Amendments to Bankruptcy Rule 3002 to Impact Bankruptcy Filing Practices for Mortgagees

by K&L Gates LLP on

Effective December 1, 2017, certain amendments to the Federal Rules of Bankruptcy Procedure (“the Bankruptcy Rules”) recently adopted by the Supreme Court will impact the allowance of secured claims in bankruptcy. Below, we...more

Debtor May Be Entitled to Credit for “Reasonable Value” of Property Purchased by Lender at Mortgage Foreclosure Sale

by Stoel Rives LLP on

In Idaho, it has long been understood that a secured creditor that has foreclosed a mortgage may be able to also get a judgment against the debtor for the remainder of the debt, if the proceeds of the foreclosure sale are not...more

Real Property & Title Insurance Update: Week Ending July 28 & August 4, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Redemption: foreclosure sale conducted without knowledge of bankruptcy affirmed, but trial court orders denying mortgagor opportunity to redeem property before certificate of sale...more

Sixth Circuit: Firm's Post-Foreclosure Conduct Does Not Violate FDCPA

by Ballard Spahr LLP on

Recently, the U.S. Court of Appeals for the Sixth Circuit affirmed the dismissal of a lawsuit brought against a foreclosure firm—Reimer, Arnovitz, Chernek & Jeffrey (the Reimer firm)—under the Fair Debt Collection Practices...more

Real Estate Finance: Massachusetts

by WilmerHale on

A Q&A guide to real estate finance law for borrowers and lenders in Massachusetts. This Q&A addresses state laws relating to security instruments, usury laws, limitations on personal liability, recording requirements and...more

Banking & Financial Services - July 2017

by Burr & Forman on

What does a recent Georgia Supreme Court case mean for the viability of the state's confirmation statute? Atlanta Partner Erich Durlacher explores answers in this Alert. Please see full E-Note below for more information....more

Real Property & Title Insurance Update: Week Ending July 14 & 21, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Standing: note owner had constructive possession of promissory note in original servicer’s physically possession of blank-endorsed note when it filed the complaint, and had standing to...more

Need Another Reason To Avoid Mixing Family & Finances?

by Bryan Cave on

You have a big heart and a little bit of money. You want to help out a cash-strapped family member, and – “because you’re family” – you don’t put down how much you’ll loan or how it’ll be paid back. ...more

Florida’s First District Court of Appeal Should Abandon the Standing at Inception Rule in Mortgage Foreclosure Cases

by Carlton Fields on

Florida’s First District Court of Appeal, in Rigby v. Bank of New York Mellon, Case No. 1D16-0665, appears to be considering receding from the “standing at inception” doctrine in the mortgage foreclosure context. That rule...more

Nevada Enacts Multiple Laws Affecting Consumer Finance

by Ballard Spahr LLP on

Nevada is rolling out a slate of legislation affecting consumer finance, including a measure to protect consumers’ privacy online and programs aimed at mitigating their risk of foreclosure. Here is a list of measures recently...more

Fast-Track Foreclosure Process Coming to Maryland, is Pennsylvania Next?

by Barley Snyder on

Pennsylvania now has two neighbors that have passed fast-track foreclosure bills and the Keystone State is considering adding its own as a method to avoid a backlog of blighted properties. Maryland recently joined Ohio in...more

No Standing = No Fees: Turning the Tide in Favor of Lenders and Servicers in the fight for fees in Florida

by Locke Lord LLP on

On July 12, 2017, Locke Lord was successful in obtaining an order in a Florida trial court denying a borrower’s request for an award of attorneys’ fees following a successful argument that the plaintiff lacked standing to...more

Burr Alert: This Old Waiver? I’ve Had it for Years

by Burr & Forman on

The Georgia Supreme Court has further eroded the viability of the Georgia confirmation statute with its recent decision in York v. RES-GA LJY, LLC. In York, the Supreme Court affirmed the lower court’s application of last...more

Real Property & Title Insurance Update: Week Ending July 7, 2017

by Carlton Fields on

REAL PROPERTY UPDATE- Takings/Declaratory Relief: plaintiff’s request for a declaration that its further pursuit of a zoning application was futile was not a proper claim for declaratory relief – GolfRock, LLC v. Lee...more

A Missing Massachusetts Promissory Note's Outsized Potential Impact on Foreclosures

by Hinshaw & Culbertson LLP on

In Zullo v. HMC Assets, LLC, the Massachusetts Land Court has issued a judicial about-face in deciding that a mortgage holder lacks standing to foreclose if that holder never possessed the mortgagor's original promissory note...more

Nevada HOA Super-Priority Litigation Update: Nevada Supreme Court Rules in Favor of Lenders on Standing Issue

The Government-Sponsored Enterprises (GSEs) and their servicers scored a significant victory last week in the Nevada Supreme Court. In Nationstar Mortgage, LLC v. SFR Investments Pool 1, LLC (Case No. 69400), the court held...more

Florida 5th DCA Distinguishes Troublesome Hicks Opinion, and Other Statute of Limitations News

by Burr & Forman on

Last week, Florida’s Fifth DCA and Second DCA issued two seminal opinions; Klebanoff v. Bank of N.Y. Mellon, and Huntington National Bank v. Watters, which clarify the cloud of uncertainty that had engulfed the statute of...more

Florida Second District Court of Appeal Ruling Highlights the Possible Pitfalls of Relying on Prior Servicer Records

by Blank Rome LLP on

Florida’s Second District Court of Appeal (“Second District Court”) recently held that a mortgagee failed to demonstrate it satisfied the condition precedent in a residential mortgage foreclosure. Allen v. Wilmington Trust,...more

Real Property & Title Insurance Update: Week Ending June 16 & 23, 2017

by Carlton Fields on

Real Property Update - US Supreme Court - Regulatory Taking: owner of parcel A, that took title to adjacent parcel B after regulation restricting use of parcels had been passed, lost grandfather rights for both parcels by...more

Appellate Court Notes

by Pullman & Comley, LLC on

Appellate Court Advance Release Opinions: - AC38945 - Shook v. Bartholomew - AC38945 - Shook v. Eastern Connecticut Health Network, Inc. Defendants could not appeal plaintiff’s verdict in this motor vehicle accident...more

Court Denies Creditor’s Motion to Dismiss Chapter 11 Case Despite Multiple Factors in Favor of Dismissal

by Burr & Forman on

In a recent case out of the bankruptcy court for the Southern District of Florida (the “Court”), a secured creditor moved to dismiss a debtor’s bankruptcy case “for cause” based on the debtor’s bad faith filing. The debtor...more

New Nevada Laws Governing Commercial Foreclosure and Receivership

by Ballard Spahr LLP on

With the financial crisis still in mind and the potential “wall of maturities” perpetually on the horizon, the Nevada Legislature has enacted two bills addressing commercial real property foreclosure and commercial real...more

CFPB Announces Consent Order for Mortgage Servicing Violations

by Ballard Spahr LLP on

The CFPB recently announced that it has entered into a consent order with Fay Servicing, LLC (“Fay”) to settle alleged mortgage servicing violations. A copy of the consent order can be found here. As is typical for CFPB...more

Rhode Island Federal Court Refuses to Dismiss FDCPA Case against Law Firm Pursuing Mortgage Foreclosure

by Hinshaw & Culbertson LLP on

Should a law firm pursuing foreclosure on behalf of a mortgagee be considered a debt collector? That is a question at issue in a Rhode Island federal court case, in which borrower Lloyd Amesbury filed a class action lawsuit...more

Real Property & Title Insurance Update: Week Ending June 2, 2017

by Carlton Fields on

Real Property Update - Lease: where lessee transfers leasehold interest to third party, but retains easement in leased property, lessee transfers less than “entire interest” in property, and such sublease not tantamount to...more

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