News & Analysis as of

Real Estate Market Mortgages

CFPB investigating Zillow for RESPA compliance

by Ballard Spahr LLP on

For years many industry participants wondered if allowing their real estate agents or loan officers to engage in co-marketing on Zillow Group applications and websites posed a risk to their companies under RESPA. The...more

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

by Carlton Fields on

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

Enforcement of Vacant and Abandoned Property Ordinances on Rise

by Barley Snyder on

Banks and other mortgage servicers are receiving notices from companies like ProChamps, which have been retained to assist municipalities with enforcement of vacant property ordinances. These enforcement actions could...more

Recent MRB Administrative Actions Highlight that Minutiae Matters to HUD

by Ballard Spahr LLP on

On April 4, 2017, the Mortgagee Review Board (MRB) of the U.S. Department for Housing and Urban Development (HUD) published an entry in the Federal Register titled "Mortgagee Review Board: Administrative Actions." The entry...more

Bankruptcy Court Imposes Massively Disproportionate $45 Million Punitive Exaction, Then Plays Santa Claus With $40 Million Of It

A bankruptcy judge in the Eastern District of California recently issued a decision that is sure to raise appellate eyebrows. Concluding in In re Sundquist that the defendant bank had violated the automatic stay by...more

Real Property & Title Insurance Update: Week Ending March 31 & April 7, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Deficiency Judgment: where a foreclosing bank acquires in rem jurisdiction via service by publication in underlying foreclosure action, bank may still seek personal service over an...more

Real Property & Title Insurance Update: Week Ending March 24, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Condition Precedent: servicer did not meet its burden of proving it satisfied condition precedent of giving notice of acceleration by failing to provide evidence that notice letter had...more

A Pair of Unbrotherly Business Altercations Go to Trial

by Farrell Fritz, P.C. on

Like most civil cases, the vast majority of business divorce disputes get resolved before trial, which is disappointing for us voyeurs since only at trial with live witnesses undergoing cross examination does one get the full...more

Everything You Need To Know About Florida Deficiency Judgments – Part II

by Shutts & Bowen LLP on

A foreclosure judgment, followed by sale of the mortgaged property, doesn’t necessarily end a foreclosure case. If the sale proceeds don’t fully pay the debt, the next step is a money judgment against the borrower for the...more

Real Property & Title Insurance Update: Weeks Ending March 10 & 17, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Coequal Liens: trial court properly authorized tax collector to issue tax certificates subject to community development district’s assessment liens – Villages of Avignon Community Dev. Dist. v....more

Third DCA Rejects 57.105 Attorney’s Fees Where Plaintiff Failed to Prove Standing

by Burr & Forman on

On March 1st, Florida’s Third District Court of Appeal affirmatively held that a mortgage holder who fails to prove its standing to foreclose is not liable to a defendant borrower for prevailing party attorney’s fees. The...more

Does it Matter if a Deed Correction is Material?

by Gray Reed & McGraw on

McCabe Trust v. Ranger Energy LLC, is the consequence of failing to comply with the Texas Property Code when correcting real property conveyances....more

Real Property & Title Insurance Update: Weeks Ending February 17 & 24, 2017

by Carlton Fields on

Foreclosure: foreclosing bank’s allegation that borrowers were in a continuing state of default sufficient to satisfy five-year statute of limitations even though stated initial default date was more than five years prior to...more

West Coast Real Estate Update: March 2017

by Holland & Knight LLP on

Gov. Brown Opposes Measure S - In a statement published less than two weeks before Los Angeles' Consolidated Municipal and Special Elections to be held on March 7, 2017, California Gov. Jerry Brown came out in opposition...more

Second District Court of Appeal Declines to Apply Statute of Limitations to Bar Subsequent Foreclosure Actions Premised on...

by Burr & Forman on

Following the Florida Supreme Court’s recent decision in Bartram v. U.S. Bank, N.A., 41 Fla. L. Weekly S493, 2016 WL 6538647 (Fla. Nov. 3, 2016), courts were left to interpret how Bartram would affect lenders’ reliance on...more

Maryland Issues Revised Proposed Rules for Servicing Transfers

by Ballard Spahr LLP on

The Maryland Commissioner of Financial Regulation recently issued a revised proposed regulation impacting servicing transfers. The Commissioner previously issued proposed regulations on this topic in January 2015. This...more

CFPB Monthly Report Spotlights Mortgage Products

The CFPB has issued its monthly complaint report and is shining its spotlight on mortgage products. The Monthly Complaint Report provides a high level snap shot of trends in consumer complaints, using a three month rolling...more

Real Property & Title Insurance Update: Week Ending February 10, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure: where foreclosing bank, who purchased debt from original mortgagee, failed to establish standing to enforce lost note “through evidence of a valid assignment, proof of purchase of the...more

Consumer Financial Services Newsletter - February 2017

by Hinshaw & Culbertson LLP on

Seventh Circuit Finds Bank's Response to RESPA Request "Almost Perfect" - Perron v. J.P. Morgan Chase Bank, N.A., Case No. 15-cv-2206 (7th Cir. 2017) - The United States Court of Appeals for the Seventh Circuit...more

Real Property & Title Insurance Update: Week Ending February 3, 2017

by Carlton Fields on

REAL PROPERTY UPDATE: Foreclosure/Sufficiency of Notice: although lender’s notice of default did not expressly state that property could be sold in foreclosure, it substantially complied with notice provision (paragraph...more

CFPB January 2017 complaint report highlights mortgage complaints, complaints from Tennessee consumers

by Ballard Spahr LLP on

The CFPB has issued its January 2017 complaint report that highlights mortgage complaints.  The report also highlights complaints from consumers in Tennessee and the Memphis and Nashville metro areas....more

Appellate Court Restores Lis Pendens Protections in Do-Ober Decision

The tides have turned in Ober v. Town of Lauderdale-By-The-Sea as the Fourth District Court of Appeal recently reversed its decision and revived the full impact of Florida’s lis pendens statute. By withdrawing and replacing...more

CFPB Enters into Consent Orders with Citibank Subsidiaries Over Mortgage Servicing Practices

The CFPB recently entered into consent orders with several Citibank subsidiaries attacking their mortgage servicing practices during the early days of the Mortgage Servicing Rules despite the CFPB’s assurances that early...more

I Have a Judgment, Now What? Priority of Judgments

Litigation can often be long and tiresome. Unfortunately, a successful verdict does not always lead to the desired outcome – the defendant paying up. Previous parts of this series addressed other aspects of collecting and...more

2016 Year in Review: Money Laundering (Part One)

by Ballard Spahr LLP on

2016 was a busy year for developments in Anti-Money Laundering (AML), the Bank Secrecy Act (BSA), the criminal money laundering statutes, forfeiture, and related issues. In part one of our year-in-review, we discuss six key...more

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