We previously reported on the Nevada Supreme Court’s decision in SFR Investments Pool 1, LLC. v. U.S. Bank, N.A., holding that a homeowners association (HOA) lien is a true super-priority lien that upon foreclosure...more
7/26/2016
/ Banking Sector ,
Deed of Trust ,
Foreclosure ,
Homeowners Association (HOA) ,
Liens ,
Mortgage Lenders ,
Mortgages ,
NV Supreme Court ,
Retroactivity ,
Super Priority ,
US Bank National Association
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
Home equity conversion mortgages, commonly known as “reverse mortgages” are popular loan products in Florida. In order to foreclose on a reverse mortgage, the lender generally must allege that all conditions necessary to...more
8/12/2015
/ Appeals ,
Borrowers ,
Financial Institutions ,
Foreclosure ,
Home Equity ,
Home Equity Line of Credit ,
Homestead Exemption ,
HUD ,
Judicial Foreclosure Process ,
Mortgage Insurance ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
Promissory Notes ,
Reverse Mortgages ,
Spouses ,
Surviving Spouse
The Nevada Legislature recently passed a bill intended, in part, to address issues resulting from the Nevada Supreme Court’s decision that a homeowners association lien is a true super-priority lien that, if foreclosed,...more
6/16/2015
/ Condominium Associations ,
Deed of Trust ,
Foreclosure ,
Governor Sandoval ,
Homeowners Association (HOA) ,
Lien Priority ,
Liens ,
Mortgage Lenders ,
Mortgages ,
New Legislation ,
NV Supreme Court ,
Super Priority ,
US Bank
Notwithstanding Michigan’s 2012 Nonrecourse Mortgage Loan Act (NMLA), which provides that solvency covenants in nonrecourse loans unenforceable, in Borman, LLC v. 18718 Borman, LLC, a third-party purchaser of a foreclosed...more
Foreclosure rates are declining in California. Many tout an improving economy as a reason for this trend. The impact of new legislation that restricts lenders and mortgage servicers from foreclosing on residential mortgages...more