Two recent Massachusetts Appeals Court decisions offer both clarity and caution to mortgage lenders seeking to enforce their loan documents. These decisions address the importance of properly drafting prepayment provisions in...more
The New York Appellate Division for the Second Department recently issued a ruling that makes it more difficult for mortgage holders to foreclose on certain properties. ...more
Under California’s “tender rule,” a borrower suing to halt or unwind a wrongful foreclosure sale generally must allege that it tendered the amounts due on the loan before the sale. The rationale underlying the tender rule is...more
The Florida Supreme Court issued its long awaited decision in Bartram et al. v. U.S. Bank NA, case number SC14-1265, on November 3, 2016, affirming the decision of the Fifth District Court of Appeals in U.S. Bank Nat. Ass’n...more
MONEY: GUARANTORS CAN NOW RELY ON G.S. §45-21.36 VALUE DEFENSES - By statute in North Carolina, G.S. §45-21.36, certain obligors may defend a deficiency action where the bank is the successful bidder by arguing...more
A California Court of Appeals recently opined on what appear to be fairly normal yield maintenance provisions. The Borrower defaulted. The bank accelerated the note and later foreclosed. The note provided that the prepayment...more
REAL PROPERTY UPDATE - Restrictive Covenants: restrictive covenant providing that an ostentatious site feature, which “may be offensive to adjacent neighbors is unacceptable” was improperly interpreted by architectural...more
Financial services companies pursuing judicial foreclosures in Florida already face a host of unique and challenging hurdles. The varying and often court- or judge-specific procedural, substantive and evidentiary requirements...more
REAL PROPERTY UPDATE - - Commercial Landlord Duty: commercial landlord has no common law duty to provide automatic external defibrillator in its stores for use in medical emergency – Verdugo v. Target Corp., No....more
In U.S. Bank N.A. v. Bartram, ____ So.3d ____, 2014 WL 1632138 (Fla. 5th DCA April 25, 2014), the Fifth District Court of Appeals for the State of Florida reversed a decision from the Circuit Court of St. Johns County...more