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Mortgages › Non-Judicial Foreclosures

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 -
Seyfarth Shaw LLP

When the Workout Doesn't Work—Enforcement of Commercial Mortgage Loans in California (Part 2: Foreclosures)

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As discussed in Part 1 of this series, the vast majority of California commercial mortgage loan foreclosures are conducted non-judicially. Accordingly, this Legal Update will not address judicial foreclosures. ...more

BCLP

Foreclosure and Receiver Issues in the United States during COVID-19

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The following memorandum provides an overview of the responses of courts and local and state governments of certain jurisdictions, as well as of the federal government, to the COVID-19 outbreak. The analysis has a particular...more

Akerman LLP

The Impact of COVID-19 on Commercial Real Estate Foreclosures in California

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As many people are aware, on March 16, 2020, Governor Newsom of California issued an executive order requesting that lenders forbear on both commercial and residential foreclosures and evictions as a result of COVID-19....more

Seyfarth Shaw LLP

When the Workout Doesn't Work—Enforcement of Commercial Mortgage Loans in California (Part 1: Foreclosures)

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Borrowers and lenders will continue to struggle with the economic consequences and challenges presented by the COVID-19 pandemic for some time. ...more

K&L Gates LLP

The Massachusetts Supreme Judicial Court Considers the Effect of a State-Mandated Default Notice on the Validity of Non-Judicial...

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The Massachusetts Supreme Judicial Court (“SJC”) heard argument on February 13, 2020, on whether compliance with a state-mandated default notice could, nevertheless, void foreclosure sales in Massachusetts. ...more

Goodwin

Supreme Court Hears Argument on Future of FDCPA Landscape

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The issue of whether the Fair Debt Collection Practices Act (FDCPA) applies to non-judicial foreclosure proceedings is now squarely before the U.S. Supreme Court. Following oral arguments last week in the case Obduskey v....more

BakerHostetler

Supreme Court to Rule on Whether the Fair Debt Collection Practices Act Applies to Nonjudicial Foreclosure Proceedings

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Currently before the U.S. Supreme Court is whether entities conducting nonjudicial foreclosure proceedings are subject to the requirements of the Fair Debt Collection Practices Act, 15 U.S.C. §§ 1692 et seq. (FDCPA)....more

Baker Donelson

Will FDCPA Apply to Non-Judicial Foreclosures?

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Does the Fair Debit Collection Practices Act (FDCPA) apply to non-judicial foreclosures? This is a question of enormous import to the mortgage servicing industry, as the FDCPA is a common subject for class action claims and...more

Balch & Bingham LLP

FDCPA & Non-Judicial Foreclosures

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In Obduskey v. McCarthy & Holthus LLP, the Supreme Court has agreed to hear an appeal from the Tenth Circuit over whether the provisions of the Fair Debt Collection Practices Act apply to non-judicial foreclosures. ...more

Ballard Spahr LLP

Supreme Court to Decide Whether FDCPA Applies to Non-Judicial Foreclosure Proceedings

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The U.S. Supreme Court announced on June 28 that it had granted a petition for a writ of certiorari to review the judgment of the U.S. Court of Appeals for the 10th Circuit in Obduskey v. McCarthy & Holthus LLP, et al.,...more

Ballard Spahr LLP

Continuing Developments in Nevada HOA Lien Litigation

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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

Ballard Spahr LLP

Recent Massachusetts Decision Highlights Importance of Using Precise Remedy Provisions in Mortgages

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A recent decision of the Supreme Judicial Court of Massachusetts highlights the importance of using clear and unambiguous remedy provisions in residential mortgages and deeds of trust....more

Ward and Smith, P.A.

Your Foreclosure Hearing Just Got More Crowded

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On August 30, 2017, an amendment to North Carolina’s foreclosure statutes took immediate effect. The amended statute, Section 45-10, concerns substitute trustees under a deed of trust. As amended, Section 45-10 now prohibits...more

Morrison & Foerster LLP

Counsel’s Corner: Does the CFPB Really Understand Non-Judicial Foreclosures?

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What is the CFPB's stake in this issue? - The FDCPA is a very powerful statute. It touches a lot of areas of consumer protection. The CFPB is really just exploring it and flexing its muscles in that area. It's working on...more

McGuireWoods LLP

H.B. 2067: A Statutory Method for Unilateral Rescission

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In a move greatly benefiting lienholders and loan servicers, Texas Governor Greg Abbott recently signed H.B. 2067, amending the Texas Civil Practice and Remedies Code to allow for the unilateral rescission of the acceleration...more

Parker Poe Adams & Bernstein LLP

It Just Got Harder to Get a Deficiency Judgment in North Carolina

Parker Poe Adams & Bernstein LLP on

Ya’ll. (I’m in the South so it’s ok to say “ya’ll” even in a legal update). It shouldn’t be that hard to get a deficiency judgment in North Carolina. To start with, unlike some other states, North Carolina does not have a...more

Locke Lord LLP

Newly-Enacted Texas Law Confirms Mechanism for Lenders to Unilaterally Rescind Acceleration

Locke Lord LLP on

On June 17, 2015, Governor Greg Abbott signed House Bill 2067, which amends the Texas Civil Practice and Remedies Code to provide a clear mechanism for lenders to unilaterally rescind acceleration of a defaulted loan. ...more

Stoel Rives LLP

Compliance with California Foreclosure Recording Law: What Level of "Defect" in Foreclosure Recordings "Void" a Foreclosure Sale?

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In the wake of the California foreclosure crisis, one of several arguments relied on by borrowers facing foreclosure (and their attorneys) in “wrongful foreclosure” suits has been that some aspect of the statutory foreclosure...more

Haight Brown & Bonesteel LLP

Recording Notice of Default as Trustee Before Being Formally Made the Trustee Does Not Make Foreclosure Sale Void

Haight Brown & Bonesteel LLP on

In Ram, et al. v. OneWest Bank, FSB, et al. (filed 2/6/15, No. A139055), the California Court of Appeal held that a nonjudicial foreclosure sale is not void merely because the notice of default was recorded by an entity who...more

Bradley Arant Boult Cummings LLP

Second Bites at the Apple in Florida Foreclosures May Not Be so Sweet: New Appellate Court Cases Raise the Specter of Statute of...

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Financial services companies pursuing judicial foreclosures in Florida already face a host of unique and challenging hurdles. The varying and often-times court- or judge-specific procedural, substantive, and evidentiary...more

Baker Donelson

Waive Goodbye to Confirmation Hurdle! Recent Decision from the Georgia Court of Appeals Gives Lenders an Alternate Route to...

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By most accounts, a decision from the Georgia Court of Appeals last September represents a sea change in the law governing judicial confirmation of foreclosure sales and post-foreclosure deficiency claims. Indeed, the Court's...more

Goodwin

Supreme Court Seeks Federal Government Opinion on National Bank Act Preemption of State Foreclosure Law

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Considering a petition for certiorari filed by Federal National Mortgage Association in a case concerning which state’s law governs a national bank’s authority to serve as trustee under a deed of trust—the state in which the...more

Ballard Spahr LLP

Important Changes to Nevada's Non-Judicial Foreclosure Process

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Lenders who secure loans with real property and their foreclosing trustees should be aware of important changes to the Nevada Revised Statutes regarding non-judicial foreclosures that went into effect on June 1, 2013....more

Miller Starr Regalia

Failure to Conduct Face-To-Face Interview With Borrower Precludes Nonjudicial Foreclosure Sale Under FHA Loan – Pfeifer v....

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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

Miller Starr Regalia

Neither Failure to Name Trustee In Deed of Trust Nor Absence of The Original Note Will Invalidate A Nonjudicial Foreclosure Sale –...

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In this recent Court of Appeal opinion, an issue of first impression in California was addressed: That is, can a borrower seek to set aside a nonjudicial foreclosure under a deed of trust which initially failed to identify a...more

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