News & Analysis as of September 20, 2024

Mortgages

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Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist borrowers in meeting their obligations and avoid foreclosure. Such mortgage loan modifications may include reduction of principal amount or interest rate, lengthening of loan term, and monthly payment caps. less -

The Title Reporter — Summer 2021

Rivkin Radler LLP on 7/6/2021

Here is what we cover in this issue of The Title Reporter: A Legal Update for the Title Insurance Industry: •An appellate court in New York has ruled that a title insurance policy excluded coverage for a “Declaration and...more

Can a Loan Modification Waive the Borrower’s Right of Reinstatement?

Patton Sullivan Brodehl LLP on 3/30/2020

Loans secured by a deed of trust typically provide that upon default (commonly, missed interest payments) the lender may elect to “accelerate” the loan, making the entire balance of principal and interest due....more

Middle District of Florida Holds Aspect Dialer is Not an ATDS under the TCPA

Burr & Forman on 9/20/2019

In addressing cross motions for summary judgment in BONNIE BROWN & JAMES BROWN, Plaintiffs, v. OCWEN LOAN SERVICING LLC, Defendant., 8:18-CV-136-T-60AEP, 2019 WL 4221718 (M.D. Fla. Sept. 5, 2019) (“Browns v. Ocwen”) on...more

Part IV: Navigating the Maze of Servicing Discharged Debt

Bradley Arant Boult Cummings LLP on 4/17/2019

Welcome to Part IV of our series on servicing discharged mortgage debt. This part will discuss modifying a borrower’s loan post-discharge. (If you missed Part I, Part II or Part III, go ahead and catch up.) Part III discussed...more

New Case Poses Threat to Mortgage Servicers in Bankruptcies

Baker Donelson on 10/29/2015

A new decision from the U.S. Court of Appeals for the Ninth Circuit poses a serious threat to mortgage companies that service mortgages of chapter 13 debtors. Mortgage servicers should be aware of the case's implications and...more

Borrower Who Obtains A Preliminary Injunction Is Entitled To A Fee Award

Hinshaw & Culbertson LLP on 9/18/2015

In Monterossa v. Superior Court (PNC Bank), 2015 DJDAR 6488, the California Court of Appeal for the Third District decided a case of first impression under Code of Civil Procedure Section 2924.12(i) enacted in 2012. The...more

Ninth Circuit Opens Door for Protracted HAMP Litigation

Snell & Wilmer on 8/16/2013

Earlier this month, the Ninth Circuit reversed a lower court’s dismissal of two consolidated class action complaints, holding that mortgage servicers participating in the Home Affordable Modification Program (HAMP) are...more

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