For followers of developments related to National Bank Act (NBA) preemption and the United States Supreme Court’s related decision in Cantero v. Bank of America, N.A., 602 U.S. 205 (2024), the waning days of 2024 proved...more
The Supreme Court is poised to resolve a circuit court split on whether the National Bank Act (“NBA”) preempts state laws requiring national banks to pay interest on mortgage escrow accounts. Cantero, et al. v. Bank of...more
In Cantero vs. Bank of America, N.A., mortgage borrowers are asking the Supreme Court of the United States to reverse a Second Circuit ruling that federally-chartered banks need not comply with state laws that require the...more
Financial Services Update - FDCPA / Definition of "Debt": a convenience fee is a separate charge for acceptance of payment that is not part of the underlying debt - Garbutt v. Ocwen Loan Servicing, LLC., No....more
Deeds in Escrow - Deeds in escrow, or “pocket deeds,” have increased in popularity in recent years. But are they the right option in connection with a workout of your distressed loan? ...more
The CFPB has issued its monthly complaint report and is shining its spotlight on mortgage products. The Monthly Complaint Report provides a high level snap shot of trends in consumer complaints, using a three month rolling...more
REAL PROPERTY UPDATE - Foreclosure: where a valid mortgage properly encumbers the subject property, an incorrect deed and a reformation of deed count are not fatal to a foreclosure action - Heartwood 2, LLC v. Dori, Case...more
Banks beware: At the very least in Florida, you may be liable for negligence and “aiding and abetting fraud” to non-customers for trust funds deposited by a bank customer that were obtained by the customer through fraud,...more
REAL PROPERTY UPDATE: Jurisdiction/Deficiency Judgment: Second DCA agrees with Third DCA that “a circuit court has subject matter jurisdiction to adjudicate an independent deficiency action when the plaintiff had...more
REAL PROPERTY UPDATE - Foreclosure/Discovery: Good cause not found to enter protective order preventing owner of property, subject to foreclosure, from deposing bank’s only witness on basis that owner of property was not...more
REAL PROPERTY UPDATE - Foreclosure/Standing: party whose motion to intervene in foreclosure action was denied did not have standing to appeal final judgment of foreclosure – Market Tampa Investments, LLC. V Stobaugh,...more
Foreclosure: non-borrower owner of real property as tenants-in-common with borrower not required to sign mortgage for borrower to encumber only his interest in the property and non-borrower’s signature on mortgage reflected...more