News & Analysis as of

Condominium Associations Mortgage Lenders

Saul Ewing LLP

Associations Need to be Prepared for Mortgage Lenders’ Inquiries About Structural Issues, Significant Deferred Maintenance and...

Saul Ewing LLP on

For many years, associations and their managers have responded to questionnaires from mortgage lenders that seek information about the condominium association to help the lender determine whether a loan to a unit owner or...more

Bradley Arant Boult Cummings LLP

Nevada Supreme Court Rules Bank Tender Defeats HOA Superpriority Lien

As lenders and servicers continue to litigate in Nevada’s state and federal courts about the effect of homeowner associations’ (HOAs) foreclosure sales, some questions have proven particularly sticky. What happens when a...more

Baker Donelson

Proposed Bill In the Maryland General Assembly Would Increase Condominium Lien Priority

Baker Donelson on

A bill introduced in the Maryland House of Delegates would increase the number of months of unpaid condominium assessments that have a priority over mortgages in the event of foreclosure. HB 250 would amend Section 11-110(f)...more

Bradley Arant Boult Cummings LLP

New Decision from the D.C. Court of Appeals Recognizes Additional Defenses to HOA Super-Priority Lien Statute

As we noted in last week’s blog post, the District of Columbia Court of Appeals issued a decision on March 1, 2018, that created a new wave of uncertainty for lenders with loans secured by deeds of trust on condominium units...more

Bradley Arant Boult Cummings LLP

Is a Foreclosure Crisis Looming in Our Nation’s Capital?

The District of Columbia Court of Appeals recently sent a new set of shockwaves through the mortgage industry in the nation’s capital when it released its decision in Andrea Liu v. U.S. Bank National Association. Having held...more

Bradley Arant Boult Cummings LLP

Be Prepared: How to Avoid the Super-Priority Trap

Benjamin Franklin once said, “By failing to prepare, you prepare to fail.” Servicers can face significant obstacles in preservation of their rights vis a vis assessments by homeowners’ associations and condo associations (a...more

Nutter McClennen & Fish LLP

Massachusetts Supreme Judicial Court Rules On Lien Priority Between Condominium Associations and Mortgage Lenders

After nearly a decade of ongoing litigation, the Massachusetts Supreme Judicial Court (SJC) issued a decision in Drummer Boy Homes Association v. Carolyn P. Britton, No. 11969 slip op. (Mass. March 29, 2016) regarding the...more

Bradley Arant Boult Cummings LLP

Tennessee Amends Condominium Lien Law to Clarify Lack of Superpriority Right

On April 19, 2016, Tennessee Governor Bill Haslam signed HB 2401, amending Tennessee’s condominium statue to make it clear that condominium associations cannot acquire a “superpriority” lien that trumps a first security...more

K&L Gates LLP

Mortgage Lenders, Holders, and Servicers Beware: Massachusetts High Court Endorses Condominium Association’s Super Lien Practice

K&L Gates LLP on

In a decision that should be read as a warning to mortgage industry participants doing business in the Commonwealth of Massachusetts, the state’s high court has validated a condominium associations’ so-called “rolling”...more

Ballard Spahr LLP

Nevada Senate Passes Bill Affecting Super-Priority Liens in Foreclosure

Ballard Spahr LLP on

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

Bradley Arant Boult Cummings LLP

Second Bite At Fla. Foreclosures May Not Be So Sweet

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

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