Are Lenders Entitled to Insurance Proceeds When Foreclosing?
A lender’s right to insurance proceeds after foreclosure depends on the type of loss payable clause contained in the insurance policy and the timing of the loss....more
At times, lenders lose the promissory notes on defaulted loans. Lost notes are problematic because, in order to have standing to foreclose, a lender may be required in many states, including in New York, to possess the...more
6/28/2016
/ Banking Sector ,
Commercial Loans ,
Default ,
ECOA ,
Foreclosure ,
Guarantors ,
Hawkins v Community Bank of Raymore ,
Loans ,
Promissory Notes ,
Regulation B ,
SCOTUS ,
Spousal Guaranty ,
Standing ,
Uniform Commercial Code (UCC)
On March 22, 2016, the U.S. Supreme Court issued its first 4-4 decision following the death of Justice Antonin Scalia, thereby affirming the 8th Circuit in Hawkins v. Community Bank of Raymore. The Court’s per curiam opinion...more