News & Analysis as of September 19, 2024

Mortgages › Personal Liability

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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 +

A Guaranty for Every Need: An Overview of the Variety of Loan Guaranties-and How to Select the Right One

Moritt Hock & Hamroff LLP on 9/13/2019

Underwriting a commercial credit facility is a process of weighing various risk mitigators until the lender is satisfied that the potential for loss is within its tolerance. By evaluating collateral value, credit history,...more

Seventh Circuit Affirms: Attorney Personally Liable for Aiding and Abetting Mortgage Fraud Scheme

Hinshaw & Culbertson LLP on 8/19/2019

Fifth Third Mortgage Co. v. Kaufman, No. 18-3295 (7th Cir. Aug. 9, 2019) - Brief Summary - The Seventh Circuit affirmed a ruling that an attorney was personally liable for aiding and abetting a mortgage fraud scheme....more

Part II: Navigating the Maze of Servicing Discharged Debt

Bradley Arant Boult Cummings LLP on 2/12/2019

Welcome to Part II of our series on the servicing of discharged mortgage debt (catch up on Part I). This part will discuss communications to discharged borrowers and evaluate various disclaimers that can be utilized. The...more

Part I: Navigating the Maze of Servicing Discharged Debt

Bradley Arant Boult Cummings LLP on 1/29/2019

Mortgage servicers are plagued by their nebulous relationships with the borrowers who discharge their personal liability in bankruptcy. Issues arise when the borrower whose debt has been discharged continues to engage with...more

Real Estate Finance: Massachusetts

WilmerHale on 8/7/2017

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

CFPB Takes Enforcement Action Against Loan Officer for Alleged Mortgage Fee Kickback Scheme

BakerHostetler on 5/30/2016

Yesterday, the Consumer Financial Protection Bureau (CFPB) announced the issuance of a consent decree with a former mortgage loan officer arising out of alleged violations of the Real Estate Settlement Procedures Act’s...more

Real Property & Title Insurance Update: Weeks Ending May 13 & May 20, 2016

Carlton Fields on 5/26/2016

REAL PROPERTY UPDATE - Contracts/Personal Liability: official title of “President” underneath signor’s signature on contract did not shield individual from personal liability because contract language reflected...more

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