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Mortgages › Trustees

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 -
Alston & Bird

Consumer Finance State Roundup - August 2024

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The latest edition of the Consumer Finance State Roundup highlights three recently enacted measures of potential interest from California, Missouri, and North Carolina....more

McGlinchey Stafford

Texas Home Equity Lenders: Understanding New Legislative Changes

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Release of Liens- One statute specifically affects mortgage servicers and mortgagees. The statute (House Bill 219) adds Section 343.108 to the Texas Finance Code, which requires a mortgage servicer or mortgagee to deliver a...more

Fox Rothschild LLP

Israeli Tax Authority Imposes ‘Capital Declaration’ Reporting Requirement On Trusts

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For the first time since Israel began taxing trusts, the Israeli Tax Authority (ITA) has sent inquiries to some trusts seeking a declaration of worldwide assets and liabilities as of December 31, 2019. We have heard that this...more

McGlinchey Stafford

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

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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

Bowditch & Dewey

Legal Considerations of Living Together in a Multi-Generational Home

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During COVID, many of us are balancing working remotely while caring for our children. This autumn, most of our children are returning to part-time or all remote school. We are using our residences as a home, office, and...more

Dechert LLP

Third Circuit Clarifies the Inner Workings of Foreclosure on Repo Collateral

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In the fifth opinion involving the repo liquidation saga of HomeBanc, the Third Circuit addressed several crucial issues involving the liquidation and valuation of repo collateral in bankruptcy. In re HomeBanc Mortg....more

Faegre Drinker Biddle & Reath LLP

United States Supreme Court May Consider Constitutionality of Minnesota Trust Code

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A Petition for Certiorari is pending before the Supreme Court of the United States in the case of Ambac Assurance Corporation v. U.S. Bank National Association, asking the Court to consider the constitutionality of whether...more

Kramer Levin Naftalis & Frankel LLP

Second Circuit Holds Trustee’s Recovery of Fraudulent Transfer Is Not Double Recovery

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In Jones v. Brand Law Firm, P.A. (In re Belmonte), Case No. 18-2098-bk (2d Cir. July 25, 2019), the Second Circuit affirmed both the bankruptcy court and district court decisions that found the Trustee was not barred by 11...more

Blank Rome LLP

In Blackstone v. Sharma, Maryland’s Highest Court Rules That Foreign Statutory Trusts Do Not Need to Be Licensed as Debt...

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In a long-awaited decision, the Court of Appeals of Maryland holds that foreign statutory trusts do not need to be licensed as debt collectors before initiating in rem foreclosure proceedings. This holding will allow numerous...more

Orrick - Finance 20/20

Court Denies Dismissal of RMBS Trustee’s Claim for Failure to Notify

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On March 7, 2018, New York Supreme Court Justice Marcy S. Friedman denied a motion by Morgan Stanley ABS Capital I Inc. (“Morgan Stanley”) to dismiss a claim by RMBS Trustee Deutsche Bank National Trust Company (the...more

Holland & Knight LLP

Brazilian Appeals Court Approves Nordic Trustee's Liberian Ship Mortgage

Holland & Knight LLP on

The Brazilian Superior Court of Justice granted Nordic Trustee's appeal on Nov. 16, 2017, and recognized the validity of a $530 million First Preferred Liberian Ship Mortgage over the OSX 3 in favor of Nordic Trustee. The OSX...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

Jones Day

Eroding the Majority Rule: Another Circuit Concludes That Lease Can Be Extinguished in Free-and-Clear Bankruptcy Sale

Jones Day on

The ability of a trustee or chapter 11 debtor-in-possession ("DIP") to sell bankruptcy estate assets "free and clear" of competing interests in the property has long been recognized as one of the most important advantages of...more

Orrick - Finance 20/20

Court Enters Verdict for Bank of New York Mellon in Ohio RMBS Trustee Litigation

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On August 4, 2017, Judge Steven E. Martin of the Ohio Court of Common Pleas rendered a full verdict in favor of Defendant-Trustee The Bank of New York Mellon (“BNYM“) in Western and Southern Life Insurance Company, et al. v....more

Jones Day

Two Recent Decisions Demonstrate Continued Disagreement Over Whether Economic Value or Face Amount of Liens Is Appropriate Metric...

Jones Day on

The ability of a trustee or chapter 11 debtor in possession ("DIP") to sell bankruptcy estate assets "free and clear" of liens on the property under section 363(f) of the Bankruptcy Code has long been recognized as one of the...more

Goodwin

Mass. Bankruptcy Court: Mortgage with Incorrect Legal Description Is Avoidable by Chapter 7 Trustee

Goodwin on

On January 4, 2017, the United States Bankruptcy Court for the District of Massachusetts found that a Chapter 7 Trustee could avoid the debtor’s mortgage and preserve it for the benefit of the bankruptcy estate. The opinion,...more

Goulston & Storrs PC

T&E Litigation Newsletter- July 2016 #2

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The first two weeks of July have brought us some warm weather and three new decisions worth noting: First, in Bank of America, N.A. v. Commissioner of Revenue, Docket No. SJC-11995 (July 11, 2016), the Supreme Judicial...more

Winstead PC

Texas Supreme Court Holds that Individual Beneficiary Had Standing to Bring a Legal Malpractice Claim Involving a Loan From an...

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On May 27, 2016, the Texas Supreme Court held that an individual beneficiary of a self-directed retirement account managed by a corporate trustee had standing to bring legal malpractice claims against a law firm based on...more

Ballard Spahr LLP

Court Cannot Enter Default Against Trustee that Submits Unopposed Declaration of Non-Monetary Status

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The California Court of Appeal recently held that a plaintiff cannot seek entry of default against a trustee that files a declaration of nonmonetary status pursuant to California Civil Code Section 2924l. Section 2924l...more

Bryan Cave Leighton Paisner

Court of Appeal case - of interest to Security Trustees

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Including an unsecured creditor in an agreed payments waterfall does not by itself confer on that unsecured creditor the benefit of a mortgagee’s usual duties on enforcement of security, or a direct claim against the sale...more

Orrick - Finance 20/20

Potential Damages in RMBS Suit Against WMC Mortgage Drastically Reduced

Orrick - Finance 20/20 on

On August 18, 2015, Judge Denise Cote of the federal district court for the Southern District of New York addressed the appropriate measure of potential damages in an action by Bank of New York Mellon (BoNY), as RMBS trustee,...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

Troutman Pepper

Settlement Proceeds: When Does Cash Become Quasi Real Estate?

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Farmer v. Citizens Nat’l Bank of Athens (In re Davis), 528 B.R. 757 (Bankr. E.D. Tenn. 2015) – A chapter 7 trustee sought a court determination that the trustee had a superior claim to settlement proceeds arising from...more

Lowndes

Good News for Secured Creditors and Commercial Lessors in Chapter 13 Cases

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A new administrative order was entered by Chief Judge Jennemann in the Middle District of Florida on August 10. The Middle District of Florida stretches from Jacksonville on the east coast, through Central Florida and down...more

Orrick - Finance 20/20

FDIC Sues BNY Mellon For Alleged Failure As Trustee of RMBS

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On August 19, 2015, the Federal Deposit Insurance Corp., acting as receiver for Guaranty Bank, filed suit against Bank of New York Mellon Corp. in New York federal court, alleging that BNY breached its duties as trustee of 12...more

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