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Bankruptcy Residential Real Estate

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CFPB Issues Final Rule to Help Mortgage Servicers Communicate With Certain Borrowers Facing Bankruptcy

On March 8, 2018, the Consumer Financial Protection Bureau (“CFPB“) announced a final rule designed to aid mortgage servicers in assisting borrowers dealing with bankruptcy issues while complying with the Truth in Lending...more

Lehman RMBS Settlement Likely to Spur Additional Claims

by Bilzin Sumberg on

On March 8, the Bankruptcy Court for the Southern District of New York concluded a lengthy “claims estimation” trial to determine the appropriate final settlement price for a resolution of lawsuits filed on behalf of...more

CFPB finalizes amendments to timing requirements for bankruptcy periodic statements

by Ballard Spahr LLP on

The CFPB recently issued its final rule amending the timing requirements for transitioning between unmodified periodic statements and modified statements for consumers in bankruptcy. ...more

Homestead Exemption Requires Ownership By Natural Person

by Fox Rothschild LLP on

In my November and December posts, I discussed the basics regarding protection of your Florida Homestead from forced sale by creditors and some of the exceptions. A recent decision from the Second District Court of Appeal...more

Post-Discharge Loan Modification with Partial Claim Gets Servicer in Trouble with Bankruptcy Court

by Weiner Brodsky Kider PC on

The U.S. Bankruptcy Court of the Southern District of New York recently sanctioned a mortgage servicer for violating a bankruptcy discharge injunction when it required a debtor to sign a subordinate mortgage and note—pursuant...more

Polsinelli TrBK Distress Indices - Fourth Quarter 2017

by Polsinelli on

We're pleased to announce the release of the Polsinelli|TrBK Distress Indices for the Fourth Quarter of 2017. Polsinelli, with data provided exclusively by TexHost, LLC d/b/a, publishes the Indices on a...more

Lease Profit-Sharing Provision Unenforceable Condition to Assignment in Bankruptcy

by Jones Day on

In Antone Corp. v. Haggen Holdings, LLC (In re Haggen Holdings, LLC), 2017 WL 3730527 (D. Del. Aug. 30, 2017), the U.S. District Court for the District of Delaware considered whether, as part of a bankruptcy asset sale, a...more

What Does a Senior Lienholder Get When a Junior Lienholder Forecloses?

What does a senior lienholder get when a junior lienholder non-judicially forecloses on the property and the sale results in “surplus funds” that exceed the amount of the junior lien?...more

Eleventh Circuit Holds That a Creditor’s Due Process Claim Can Be Inadvertently Waived By Inaction

by Burr & Forman on

On December 11, 2017, in a case entitled In re Iliceto, the Eleventh Circuit Court of Appeals affirmed the district court’s decision, which held that Nationstar Mortgage, LLC (“Nationstar” or the “Creditor”) received notice...more

U.S. District Court for the Southern District of Florida Narrows the Definition of Borrower Under RESPA

by Ballard Spahr LLP on

In 2014, the Consumer Financial Protection Bureau (CFPB) promulgated a number of mortgage servicing rules, including rules governing loss mitigation procedures. ...more

Fourth Circuit Approves Partial Dirt for Debt Plan

by Poyner Spruill LLP on

Do you want to own that rural timberland you financed a few years back? Well, what if I told you that not only are you taking ownership, but you’re taking it in exchange for a credit of three times its appraised value? The...more

Does Bankruptcy Put Equity In My Florida Homestead At Risk?

by Fox Rothschild LLP on

In my November post, I discussed the basics regarding protection of your Florida Homestead from forced sale by creditors and alluded to exceptions to the rule. Let’s discuss some of those exceptions as it relates to a...more

Court Holds that Bankruptcy Judges Cannot Impose Punitive Sanctions

Bankruptcy courts lack the power to impose serious punitive sanctions, a federal district judge ruled recently in PHH Mortgage Corporation v. Sensenich, 2017 U.S. Dist. LEXIS 207801 (D. Vt. Dec. 18, 2018). Judge Geoffrey...more

New rules for financial leasing in Italy

by White & Case LLP on

New rules establish a legal framework for financial leasing agreements in Italy.   Before the new rules, financial leasing agreements lacked a dedicated legal regime in Italy. Instead, Italian courts applied - at times...more

In Bankruptcy, a Lease Isn't Always a Lease

by Ward and Smith, P.A. on

In In re Price, the United States Bankruptcy Court for the Eastern District of North Carolina recently explored the difference between a “true” lease of personal property and “disguised” financing. Creditors should take heed...more

Linee guida per le buone prassi nel settore delle esecuzioni immobiliari

La valanga di crediti bancari incagliati (per non dire in sofferenza) che si è abbattuta sul nostro Paese negli ultimi anni ha acceso il faro sull'inefficienza del sistema giudiziario di recupero dei crediti che è una delle...more

Real Property, Financial Services, & Title Insurance Update: Weeks Ending October 6 & 13, 2017

by Carlton Fields on

REAL PROPERTY UPDATE FINANCIAL SERVICES UPDATE - Ad Valorem Taxes: land lease holders are considered equitable owners of land for tax purposes if land lease renews automatically and is perpetual; owners of condominium...more

House Financial Services Committee Schedules Oct. 11 Mark-Up of "Madden fix" Bill

by Ballard Spahr LLP on

Among the more than 20 bills that the House Financial Services Committee was scheduled to mark up Wednesday, October 11, was a bill to provide a "Madden fix" as well as several others relevant to consumer financial services...more

Judicial Estoppel Defense in Bankruptcy Claims Likely to Get More Difficult

A recent decision from the Court of Appeals for the Eleventh Circuit has impaired a valuable defense for early dismissal or settlement with bankrupt plaintiffs. This decision will affect strategy for mortgage originators,...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

In an apparent effort to appease dissatisfied activist investors, chemicals giant DowDuPont has announced plans to change its breakup plan with an reorganizational structure that focuses on three “distinct businesses: an...more

No Surrender: Massachusetts Appeals Court Preserves Foreclosure Challenges for Bankruptcy Petitioner

by Hinshaw & Culbertson LLP on

Like Bruce Springsteen, a Massachusetts bankruptcy debtor said "no surrender" when it came to his home. In EverBank v. Chacon, a panel of the Massachusetts Appeals Court issued a non-binding decision that a debtor's...more

Dear Mortgage Lender – Where Debtors Surrender, Act Quickly

by Fox Rothschild LLP on

The Eleventh Circuit’s ruling in the Failla case was triumph for mortgage lenders when it affirmed the District Court’s opinion that “once the debtor decides to ‘surrender’ secured property… [w]hile the debtor need not...more

Tenants Beware – The Ninth Circuit Has Ruled That The Bankruptcy Code Can Be Used By A Landlord To Strip A Tenant’s Right To...

by Ervin Cohen & Jessup LLP on

Just last month, the Ninth Circuit issued a ruling in the case of Matter of Spanish Peak Holding II, LLC, that is potentially devastating to a tenant that leases property from a landlord that files for bankruptcy relief....more

Shifting the onerous: onerous land disclaimed by bankruptcy trustees can also become onerous for lenders

by Dentons on

This update deals with “onerous property” and the issues involved when a trustee in bankruptcy disclaims onerous land, including the potential impact on lenders....more

Eleventh Circuit Moves Toward Bright Line Rule That Debtors Cannot Retain Real Property Post- Discharge Without Reaffirming the...

by Burr & Forman on

Last year, Burr & Forman lawyers won a decisive victory in the Eleventh Circuit, in the case of In re Failla, 838 F.3d 1170 (11th Cir. 2016). In Failla, the Eleventh Circuit held that a debtor who files a statement of...more

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