News & Analysis as of September 21, 2024

Foreclosure › Insurance Claims

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Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -

New York Insurance Coverage Law Update - March 27, 2024

Rivkin Radler LLP on 3/28/2024

Plaintiff loaned money to his employee to purchase a home, and the loan was secured by a mortgage. When the employee failed to pay the loan and to insure the home, Plaintiff obtained a landlord package policy from Erie and...more

Whoomp! (Where’d It Go?): Disappearing Assets in Bankruptcy

BCLP on 8/9/2021

In a recent post, I discussed three situations in which a debtor in bankruptcy might find itself dispossessed of assets that appeared to be property of the bankruptcy estate. This article expands on that general idea and...more

New York Federal Court Finds Insured’s Failure to Provide Notice of Subpoena Did Not Bar Coverage for Later Lawsuit

Carlton Fields on 4/9/2020

Applying New York law, the U.S. District Court for the Southern District of New York held that because a subpoena duces tecum previously issued to the insured by a post-judgment creditor of a non-insured entity was not a...more

The REAL Trending Litigation Topics Regarding COVID-19

Spilman Thomas & Battle, PLLC on 3/27/2020

A trend is emerging with recently filed litigation involving the COVID-19 pandemic. We are committed to providing information that allows businesses to react as quickly as possible to avert civil litigation threats or to...more

Real Property & Title Insurance Update: Week Ending February 1, 2019

Carlton Fields on 2/19/2019

Real Property Update - Foreclosure / Surplus Funds: sections 45.032 and 45.033, Florida Statutes, create a rebuttable presumption that the owner of record of real property on the date of the filing of a lis pendens is...more

After the Waters Recede: The Mortgage Servicer’s Role in Navigating Insurance Claims, Part II

Bradley Arant Boult Cummings LLP on 10/13/2017

In the first part of the series “The Mortgage Servicer’s Role in Navigating Insurance Claims,” we covered assessing the damage in the wake of a natural disaster and applying the proceeds when complying with the terms of...more

FHA Withdraws Proposed Rule Establishing Insurance Claim Deadline

Bradley Arant Boult Cummings LLP on 10/29/2015

Recently, the Federal Housing Administration (FHA) withdrew part of a proposed rule that sought to establish a maximum time period within which an FHA approved mortgagee must file a claim with FHA for insurance benefits. The...more

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