News & Analysis as of September 23, 2024

Foreclosure › Mediation

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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 -

[PODCAST] JAMS Neutral Hon. Annette M. Rizzo (Ret.) appeared on an episode of "What the M"

JAMS on 2/22/2024

Hon. Annette M. Rizzo (Ret.) appeared on an episode of "What the M," a podcast hosted by mortgage default servicing attorneys Kent McPhail and Stephen Hladik that delves into challenges and trends affecting mortgage...more

Mortgage Creditors Confront Five Year Extension of Mandatory Pre-Foreclosure Mediation Process in Rhode Island

Hinshaw & Culbertson LLP on 6/20/2018

The Rhode Island Senate recently approved a five-year extension of R.I. Gen. Laws § 34-27-3.2, which had established a mandatory mediation program any out-of-state mortgagee must follow before initiating foreclosure on...more

Litigation Alert: Washington Supreme Court Clears Up Ambiguity on "Holder" versus "Owner" of Secured Notes

Stoel Rives LLP on 11/6/2015

The Washington Supreme Court, sitting en banc, affirmed in Brown v. Washington State Department of Commerce the Department of Commerce’s denial of a mediation request under the Foreclosure Fairness Act (FFA) made by a...more

Washington Supreme Court Clarifies Mandatory Mediation Program Exemption – Holders Score a Washington Victory

Bradley Arant Boult Cummings LLP on 11/4/2015

The servicer community recently scored an important victory in an opinion issued by the en banc Washington Supreme Court. The decision — Brown v. Wash. State Dep’t. of Commerce, — clarifies the scope of the small lender...more

Rhode Island General Assembly Clarifies Intent of Foreclosure Mediation Law

Partridge Snow & Hahn LLP on 8/4/2015

In what can only be perceived as a response to a recent Superior Court decision, the Rhode Island General Assembly amended the applicability of the Foreclosure Mediation Law, R.I. Gen. Laws § 34-27-3.2, for the third time in...more

Locke Lord QuickStudy: Rhode Island Superior Court Decision Impacting Servicers

Locke Lord LLP on 6/10/2015

A Rhode Island superior court recently ruled that, pursuant to R.I. Gen. Laws § 34-27-3.2, foreclosing lenders are required to send mediation notices in any foreclosure initiated after the effective date (October 2014)...more

Real Property, Financial Services & Title Insurance Update: Week Ending April 10, 2015

Carlton Fields on 4/13/2015

REAL PROPERTY UPDATE - Foreclosure/Mediation: trial court erred in compelling borrowers to produce financial information at mediation not relevant pre-foreclosure judgment – Morejon v. F&M Real, Inc., No. 2D14-2531...more

Mortgage Foreclosure Ordinances Preempted by Existing State Law

Partridge Snow & Hahn LLP on 2/6/2015

The Massachusetts Supreme Judicial Court (the “SJC”) recently decided that two mortgage foreclosure ordinances adopted by the City of Springfield were preempted by existing state law. In Easthampton Savings Bank v. City of...more

St. Louis County Ordinance Requiring Pre-Foreclosure Mediation Unconstitutional, Missouri Supreme Court Holds

Ballard Spahr LLP on 11/25/2014

The Missouri Supreme Court recently ruled that a St. Louis County ordinance requiring lenders to mediate with borrowers prior to foreclosure was void ab initio because it was not directed to a matter of purely municipal...more

Summary of Amendments to RI Foreclosure Mediation Regulation

Partridge Snow & Hahn LLP on 12/12/2013

This alert will discuss the Mediation Law and some of its unanticipated consequences, as well as the latest amendments to Banking Regulation 5. The latest amendments contain helpful clarification and guidance for...more

First Circuit: Does a Local Government Have Authority To Regulate Foreclosures?

Best Best & Krieger LLP on 11/27/2013

Many cities have struggled with the effects of foreclosures. But given the complex mix of state laws that often governs the issue, how much authority do local governments have in this area? A First Circuit case,...more

Another Case of Housing Whiplash in Nevada: New Homeowner Bill of Rights and Revisions to the Foreclosure Mediation Program

Ballard Spahr LLP on 10/10/2013

Nevada’s Homeowner Bill of Rights is expected to throw another sharp curve into the state’s troubled housing market. The new law, which took effect last week, places more restrictions on the exercise of the power of sale....more

Changes to Rhode Island Foreclosure Statute Require Mediation for Certain Foreclosures

Partridge Snow & Hahn LLP on 9/10/2013

Changes to Rhode Island foreclosure law are set to become effective for certain mortgage foreclosures on September 12, 2013. New Section 34-27-3.2 entitled “Mediation Conference” has been added to Rhode Island General Laws,...more

Nevada Rejects Literalist View on Some Lender and Trust Deed Holder Requirements for the Right to Enforce

Snell & Wilmer on 12/18/2012

Nevada’s Foreclosure Mediation Program (FMP), statutorily mandates mediation before a non-judicial foreclosure of an owner-occupied residence can proceed. It also encourages the judicial review of that mediation. It has been...more

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Foreclosure › Mediation

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