In an opinion written in under 1,000 words, Florida's Fourth District Court of Appeal put foreclosure cases across Florida in jeopardy in Desbrunes v. U.S. Bank National Association in February. Originally published in...more
Does a lender have the right to foreclose its mortgage if a payoff of such mortgage is made by wire transfer, but the payment does not make it to the lender’s account? A recent case, heard on appeal by the New York Supreme...more
On April 24, the Colorado Supreme Court issued its highly anticipated decision in U.S. Bank National Association v. Silvernagel. The decision made Colorado the latest state to recognize that a borrower’s bankruptcy...more
The New York State Supreme Court, New York County Commercial Division (the “Court”) decided in U.S. Bank, N.A. v. 342 Property LLC, on February 14, 2022, that a mezzanine lender that is not a party to loan documents that...more
In a recent concurring opinion, Judge Rowan D. Wilson sifts through and attempts to clear up some confusion in New York case law surrounding the doctrine of standing in foreclosure actions. ...more
Real Property Update - Covenant Running With Land: Rejecting association’s argument on appeal that trial court erred in finding that recorded agreement was not a restrictive covenant running with the land but a personal...more
Real Property Update - Foreclosure / Redemption / Intervention: Claim for right of redemption procedurally barred once certificate of title issued; party failed to appeal earlier order denying right to intervene in...more
Lender liability typically refers to the situation where a lender exercises such a high degree of control over the day-to-day activities of the borrower that it becomes exposed to claims that otherwise would be asserted...more
Real Property Update - Foreclosure: Where the foreclosure defendant was properly served, and default and default final judgment was entered against said defendant, the defendant can only contest the unliquidated damages...more
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 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
Last summer, my colleague C.J. Summers and I posted a report about Saccameno v. U.S. Bank National Association, a Seventh Circuit case in which we had filed an amicus brief on behalf of the Chamber of Commerce of the United...more
Real Property Update - Due Process: Trial court violated developer’s due process rights by considering and ruling upon developer’s motion to quash service of process, which was not set for hearing, despite developer’s...more
Real Property Update - Foreclosure / Notice: Mail log sufficient evidence to establish mailing of notice to borrower of default and possibility of foreclosure – Stacknik v. U.S. Bank, N.A., No. 2D18-2156 (Fla. 2d DCA Nov....more
Real Property Update - Foreclosure / Statute of Limitations: default notice pursuant to paragraph 22 of subject mortgage may include amounts accrued outside five-year statute of limitations – U.S. Bank, Nat’l Ass’n v....more
Real Property Update - Foreclosure / Condo Assessments: under section 718.116(1)(a), Florida Statutes, present condo owner is jointly and severally liable with the previous owner for unpaid assessments and related expenses...more
On July 16, Judge Schofield in the United States District Court for the Southern District of New York dismissed four out of five claims in a suit filed by Ambac Assurance Corp. (Ambac) against U.S. Bank National Association...more
Although the Supreme Court identified three guideposts for evaluating whether a punitive award is unconstitutionally excessive 23 years ago in BMW v. Gore and refined those guideposts 16 years ago in State Farm v. Campbell,...more
Real Property Update - Ad Valorem Taxes: in a matter of first impression, county's immunity from taxation does not extend extraterritorially to property it owns in another Florida county - Joiner v. Pinellas Cnty., Fla.,...more
Financial Services Update - FDCPA / definition of "debt collector": law firm carrying out a nonjudicial foreclosure action not a debt collector because the primary definition of a "debt collector" under sec. 1692a does not...more
Real Property Update - Foreclosure / Surplus Funds: sections 45.032 and 45.033, Florida Statutes, create a rebuttable presumption that the owner of record of real property on the date of the filing of a lis pendens is...more
REAL PROPERTY UPDATE - Foreclosure/Statute of Limitations & Res Judicata: trial court erred in finding that bank's foreclosure action was barred by statute of limitations and res judicata - U.S. Bank Nat'l Ass'n, etc. v....more
REAL PROPERTY UPDATE - - Equitable Lien/Foreclosure: lender entitled to an equitable lien, but not entitled to foreclose on that lien where was no showing of default on mortgage from which the lien arose - Rozanski v....more
On June 8, 2018, monoline insurer Ambac Assurance Corporation (“Ambac“) filed a complaint in the United States District Court for the Southern District of New York against U.S. Bank National Association (“U.S. Bank“), trustee...more
CFTC Reduces Marketplace Barriers for Global Development Initiatives - On May 16, 2018, the Commodity Futures Trading Commission's ("CFTC") Division of Swap Dealer and Intermediary Oversight ("DSIO") granted relief to...more