Mortgages, Third-Party

FHA Seeks Comment on Third Party Originator Fraud With Short Comment Timeframe

Ballard Spahr LLP on 6/21/2024

On June 17, 2024, FHA announced in draft Mortgage Letter 2024-12 a proposed revision to its Defect Taxonomy to clarify that fraud or material misrepresentation involving a sponsored Third-Party Originator (TPO) is a Tier 1...more

Federal Agencies Propose Reconsideration of Value Guidance

Ballard Spahr LLP on 6/9/2023

A group of federal agencies have proposed reconsideration of value (ROV) guidance for residential real estate valuations. The agencies are the Comptroller of the Currency (OCC), Consumer Financial Protection Bureau (CFPB),...more

Mortgage or other Third Party Loan Investments in Your Plan? Do they Pass Muster under IRS Issue Snapshot?

Pullman & Comley - Labor, Employment and... on 8/31/2022

The IRS Issue Snapshot-Third Party Loans from Plans dated August 23, 2022 is a short advice document for examiners to use when auditing tax-qualified retirement plans that invest in mortgages or other third party loans. IRS...more

Eleventh Circuit FDCPA Decision Could Dramatically Affect Mortgage Servicers' Operations

Perkins Coie on 6/2/2021

The U.S. Court of Appeals for the Eleventh Circuit recently upheld a lower court’s decision in Hunstein v. Preferred Collection and Management Services, Inc., 994 F.3d 1341 (11th. Cir. 2021). They affirmed that a debt...more

Mortgage Analytics Company and FTC Agree to Settlement on Allegations Related to Third-Party Vendor Data Breach

Balch & Bingham LLP on 1/8/2021

Ascension Data & Analytics LLC, a data analytics company for the mortgage industry, has entered into a proposed settlement agreement with the Federal Trade Commission (FTC) following allegations that it violated the...more

Florida Real Property And Business Litigation Report, Volume 13, Issue 51

McGlinchey Stafford on 12/22/2020

Digiport, Inc. v. Foram Development BFC, LLC, Case No. 3D18-1651 (Fla. 3d DCA 2020). The question of whether an idea constitutes a “trade secret” under the Florida Uniform Trade Secrets Act is typically a fact issue, and...more

Florida Real Property And Business Litigation Report Volume XIII, Issue 50

McGlinchey Stafford on 12/18/2020

M & M Realty Partners at Hagen Ranch, LLC v. Mazzoni, Case No. 18-13536 (11th Cir. 2020). A “binding financial commitment” from a third party, including a wholly owned business entity, is required in order to satisfy the...more

Don’t Lend No Hand to Raise No Flag Atop No Ship of Fools: Breach of SPE Provisions by Non-Borrower Exposes Non-Borrower to...

Cadwalader, Wickersham & Taft LLP on 12/11/2020

A recent decision of New York’s highest court potentially strengthens the ability of lenders to bring suits against third parties for participation in a borrower’s breach of single purpose entity/bankruptcy remote loan...more

Florida Appellate Court Upholds Order Requiring Monthly Payments During Foreclosure Case

Burr & Forman on 4/9/2020

On April 1, 2020, Florida’s Third District Court of Appeal released its opinion in the case 78D Team, LLC v. U.S. Bank, N.A., etc., 3D 19-1708 (Fla. 3d DCA April 1, 2020)....more

Real Property, Financial Services, & Title Insurance Update: Week Ending February 7, 2020

Carlton Fields on 2/19/2020

Real Property Update - Fraudulent Transfer: Real property that was worth less than mortgage encumbering it was not an asset per the plain language of section 726.102(2) and, therefore, could not support fraudulent transfer...more

Wachet Auf and Lis Pendens

Whitman Legal Solutions, LLC on 6/25/2019

Today, Wachet Auf is possibly Bach’s best known cantata. It has been frequently used in movies and television, ranging from Mr. Holland’s Opus to Mad Men (in the episode Three Sundays) to Win Ben Stein’s Money. In real...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

Washington Answers the Question of Whether Title Companies Owe a Duty of Care to Third Parties…

Snell & Wilmer on 9/15/2016

Last year, the Ninth Circuit certified to the Washington Supreme Court the question of whether title companies owe a duty of care to third parties when they record legal instruments. ...more

Statutory Right of Redemption Must Be Strictly Construed

Burr & Forman on 8/12/2015

In Palm-Aire Vill. Private Homes Townhouse Park Bd., Inc. v. Epstein, No. COSO14-011561 (Fla. Cir. Ct. May 18, 2015), the Court was faced with the issue of whether the Homeowner successfully exercised his right of redemption...more

Orrick's Financial Industry Week in Review - November 4, 2013

Orrick, Herrington & Sutcliffe LLP on 11/5/2013

The Fed Approves New Fee Schedules - On October 31, the Fed announced new fee schedules, effective January 2, 2014, for payment services the Federal Reserve Banks provide to depository institutions (priced services). ...more

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