Mortgages, Homeowners Association (HOA)

When does a plaintiff have a right to a jury trial under the CSPA? - McGlinchey Commercial Law Bulletin

McGlinchey Stafford on 5/18/2022

Fraudulent Transfer Act Allan v. Allan, 8th Dist. Cuyahoga Nos. 110177, 110179, 2022-Ohio-1488- In this appeal, the Eighth Appellate District reversed the trial court’s decision under the Fraudulent Transfer Act case to...more

New Freddie Mac Underwriting Guidelines for Condominium and Cooperative Projects

Foley & Lardner LLP on 1/25/2022

If you develop or manage condominium or cooperative projects, you need to be aware of new Freddie Mac underwriting requirements - Freddie Mac has promulgated new temporary underwriting requirements for mortgages secured...more

The Title Reporter — Fall 2021

Rivkin Radler LLP on 9/28/2021

Here is what we cover in this issue of The Title Reporter: A Legal Update for the Title Insurance Industry: •An appellate court in California has ruled that the state’s Quiet Title Act insulated a third party from the...more

2020 Legislative Changes Affecting Virginia Community Associations

Woods Rogers on 7/8/2020

The 2020 legislative session was notable for a few reasons. First, the Democrats held the majority of seats in both houses of the General Assembly for the first time in recent history. Second, the legislature also took...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

If You Purchase a House at an HOA Lien Foreclosure, Are You Entitled to Excess Sale Proceeds?

Snell & Wilmer on 11/13/2019

That pesky excess sale proceeds statute, A.R.S. § 33-727, is making waves again. We previously blogged about this statute... In the prior post, we explained that excess sale proceeds (i.e., a foreclosure sale price greater...more

Real Property, Financial Services, & Title Insurance Update: Week Ending May 10, 2019

Carlton Fields on 5/22/2019

Real Property Update - Ad Valorem Taxes: in a matter of first impression, county's immunity from taxation does not extend extraterritorially to property it owns in another Florida county - Joiner v. Pinellas Cnty., Fla.,...more

Nevada Supreme Court Rules Bank Tender Defeats HOA Superpriority Lien

Bradley Arant Boult Cummings LLP on 4/4/2019

As lenders and servicers continue to litigate in Nevada’s state and federal courts about the effect of homeowner associations’ (HOAs) foreclosure sales, some questions have proven particularly sticky. What happens when a...more

Everyone Wins When a Foreclosure Sale Generates Excess Proceeds

Snell & Wilmer on 7/16/2018

When a foreclosure sale generates more money than needed to pay off the lien, the excess proceeds usually go first to creditors in the order of their priority, and second to the owner after creditors are paid in full. So, in...more

Continuing Developments in Nevada HOA Lien Litigation

Ballard Spahr LLP on 5/1/2018

Recently, in Nationstar Mortgage, LLC, vs. Saticoy Bay LLC Series 2227 Shadow Canyon, the Nevada Supreme Court issued a decision following a line of cases stemming from the analysis in SFR Investments Pool, LLC vs. U.S. Bank...more

Big Win for Servicers and Lenders of Fannie and Freddie Owned Loans against Nevada HOA Foreclosures

Bradley Arant Boult Cummings LLP on 8/28/2017

Last week, the U.S. Court of Appeals for the Ninth Circuit issued a significant decision in favor of lenders and mortgage servicers fighting off claims that their mortgage liens were extinguished by Nevada homeowners...more

Nevada Enacts Multiple Laws Affecting Consumer Finance

Ballard Spahr LLP on 7/18/2017

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

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

Bradley Arant Boult Cummings LLP on 7/10/2017

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

New HOA Estoppel Requirements Signed into Law

Lowndes on 6/21/2017

Title insurance companies and closing agents handling transactions involving homeowners’ and condominium associations have long been frustrated by the timing and cost associated with obtaining estoppel letters from these...more

Real Property & Title Insurance Update: Week Ending May 19 & 26, 2017

Carlton Fields on 6/2/2017

Real Property Update - Foreclosure/Standing/Lost Note: if plaintiff did not have right to enforce note when lost, plaintiff should present evidence of assignment from payee to plaintiff or affidavit of ownership - ...more

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

Carlton Fields on 4/25/2017

REAL PROPERTY UPDATE - Foreclosure/Attorneys’ Fees: mortgage foreclosure plaintiffs seeking attorney’s fees must support their claim with competent, substantial evidence of the number of hours worked and evidence that...more

Nev. Supreme Court Holds HOA Foreclosure Statute Constitutional, Splits with Ninth Circuit

Ballard Spahr LLP on 2/6/2017

The Nevada Supreme Court has upheld the constitutionality of Nevada's pre-2015 statutory scheme for homeowners association (HOA) foreclosures. This decision contradicts the Ninth Circuit Court of Appeals' conclusion that the...more

Real Property & Title Insurance Update: Weeks Ending November 18 & 25, 2016

Carlton Fields on 12/2/2016

REAL PROPERTY UPDATE - Settlement/Waiver: borrowers permitted to raise affirmative defenses and counterclaims against lender where subject Loan Modification Agreement failed to include waiver of claims, affirmative...more

Bourne Valley Redux

Ballard Spahr LLP on 11/11/2016

The dispute between lenders and the purchasers at homeowners’ association foreclosure sale regarding superiority of title has embroiled the State of Nevada since at least as early as 2012. Since the issue rose in volume and...more

“Eviscerate” is the Proper Term for What the Ober Opinion Did to the Lis Pendens Statute—But What About Jurisdiction?

Burr & Forman on 8/30/2016

Florida’s 4th District Court of Appeal sent the real property and mortgage world into a frenzy this week after issuing its opinion in Ober v. Town of Lauderdale-By-The-Sea, dramatically weakening the protections of Florida’s...more

Foreclosure of Nevada HOA Super Lien Cannot Extinguish Mortgage Lender’s Security Interest

Ballard Spahr LLP on 8/16/2016

The non-judicial foreclosure of a Nevada HOA super lien cannot constitutionally extinguish a mortgage lender's security interest, the Ninth Circuit Court of Appeals has held. This holding will affect many lawsuits in federal...more

Nevada Supreme Court Accepts Certified Question in HOA Lien Litigation Case – Should the SFR Decision Apply Retroactively?

Ballard Spahr LLP on 7/26/2016

We previously reported on the Nevada Supreme Court’s decision in SFR Investments Pool 1, LLC. v. U.S. Bank, N.A., holding that a homeowners association (HOA) lien is a true super-priority lien that upon foreclosure...more

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