Florida’s Fourth District Court of Appeal continued to broadly apply the holding in Nationstar Mortgage LLC v. Glass, 219 So. 3d 896, 898 (Fla. 4th DCA 2017), review granted, SC17-1387, 2018 WL 2069328 (Fla. Feb. 13, 2018) in...more
In Baez v. Specialized Loan Servicing, LLC, 16-17292, 2017 WL 4220292 (11th Cir. Sept. 22, 2017) the Eleventh Circuit Court of Appeal recognized a limit to the requirement to the phrase “actual damages” in Section 2605 of the...more
The Florida Supreme Court today affirmed Bartram v. U.S. Bank National Association in a virtually unanimous decision. The decision resolves a long standing controversy regarding the effect (if any) of a prior unsuccessful...more
On March 1, 2016, the Eleventh Circuit Court of Appeal held that the assignee of a loan cannot be liable for the failure to provide a payoff statement as required by the Truth in Lending Act, 15 USC 1639g. The case is Evanto...more
Many judges in Miami-Dade County and elsewhere held the view that “strict” compliance was the standard to determine if a notice of default complied with the provisions of a paragraph 22 of a mortgage. To this day, no...more
Standing is one of the top issues in foreclosure case law. So it comes as no surprise that the issue of standing is also a common focal point for discovery disputes in foreclosures. It has become common foreclosure defense...more
10/8/2015
/ Bank of New York (BNY) Mellon ,
Banking Sector ,
Banks ,
Borrowers ,
Consumer Lenders ,
Discovery ,
Financial Institutions ,
Foreclosure ,
Mortgage Lenders ,
Mortgages ,
Standing
It’s finally here. Over the weekend, the Consumer Financial Protection Bureau’s (CFPB) long awaited and oft delayed integration of the disclosures required by the Federal Truth in Lending Act (TILA) and Real Estate...more
10/6/2015
/ Banking Sector ,
Closing Documents ,
Compliance ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Disclosure Requirements ,
Financial Institutions ,
HUD ,
Loans ,
Mortgage Lenders ,
Mortgages ,
Residential Real Estate Market ,
RESPA ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
Truth in Lending Act (TILA)
The long heralded TILA/RESPA Integrated Disclosures (TRID) are coming, and they are already causing some headaches in the real estate market. Congress provided for the new disclosures in the 2010 Dodd-Frank Wall Street Reform...more
9/2/2015
/ Closing Documents ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Disclosure Requirements ,
Dodd-Frank ,
Financial Institutions ,
Good Faith ,
HUD ,
Loans ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
National Association of Realtors ,
Residential Real Estate Market ,
TILA-RESPA Integrated Disclosure Rule (TRID)
With its decision up on re-hearing, Florida’s Third District Court of Appeal may be rethinking its decision in Deutsche Bank Trust Co. Americas v. Beauvais, No. 3D14-575, 2014 WL 7156961 (Fla. 3d DCA Dec. 17, 2014). In...more
8/26/2015
/ Appeals ,
Bank of America ,
Citibank ,
Consumer Lenders ,
Deutsche Bank ,
Dismissal With Prejudice ,
FL Supreme Court ,
Florida ,
Foreclosure ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
Statute of Limitations
As Florida works through its foreclosure backlog, many of the cases remaining are those with complications, for example a lost promissory note. Such issues are not insurmountable, but do require an attention to detail. For...more
8/18/2015
/ Consumer Lenders ,
Financial Institutions ,
Florida ,
Foreclosure ,
HSBC ,
Mortgage Lenders ,
Mortgages ,
Promissory Notes ,
Real Estate Market ,
Residential Real Estate Market ,
Uniform Commercial Code (UCC)
Foreclosure defense and bankruptcy often go hand in hand, but sometimes it seems like the left hand doesn’t talk to the right. This has proven especially common with bankruptcy plans that propose to “surrender” real property...more
8/13/2015
/ Banking Sector ,
Banks ,
Chapter 13 ,
Consumer Bankruptcy ,
Consumer Lenders ,
Financial Institutions ,
Foreclosure ,
Lenders ,
Loan Modifications ,
Mortgage Servicers ,
Mortgages
The UCC was supposed to make enforcing negotiable instruments a simpler, more streamlined process. It has proven anything but in Florida. Continuing a trend that now stretches back years, mortgage lenders have had an...more
8/11/2015
/ Bank Notes ,
Borrowers ,
Consumer Lenders ,
FDIC ,
Financial Institutions ,
Florida ,
Foreclosure ,
JPMorgan Chase ,
Lenders ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
Receivership ,
Standing ,
Uniform Commercial Code (UCC) ,
Washington Mutual
On August 5, 2015, PHH Corp. (“PHH”) won a stay of the $109M penalty handed down by Consumer Financial Protection Bureau (“CFPB”) director Rich Cordray. Cordray’s aggressive legal reasoning and the harsh penalties he imposed,...more
8/10/2015
/ Administrative Law Judge (ALJ) ,
Administrative Procedure Act ,
Banking Sector ,
Banks ,
Captive Insurance Company ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Dodd-Frank ,
Enforcement Actions ,
Financial Institutions ,
HUD ,
Insurance Industry ,
Kickbacks ,
Lenders ,
Mortgage Insurance ,
Mortgage Lenders ,
Mortgages ,
Motion To Stay ,
Penalties ,
Popular ,
Reinsurance ,
RESPA ,
Richard Cordray