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Mortgages › Assignments

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Spilman Thomas & Battle, PLLC

Assignment and Recordation of Patent Ownership Rights

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A patent has the attributes of intangible personal property - it can be sold or mortgaged; it may be bequeathed by a will; and it may pass to the heirs of a deceased patentee. The patent law provides for the transfer or sale...more

Patton Sullivan Brodehl LLP

A Loan In Default Can Still Be Assigned

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Borrowers looking to invalidate a foreclosure sale often come up with interesting theories. One frequent strategy is to attack the validity of a prior assignment of the underlying note and deed of trust. As explained in...more

Bradley Arant Boult Cummings LLP

FHA Extends Non-Borrowing Spouse Protections

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The United States Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2019-15, in which it announced several modifications to the Mortgagee Optional Election (MOE) Assignment claim process for Home...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending February 22, 2019

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Real Property Update - Foreclosure / Paragraph 22: bank failed to introduce sufficient evidence to prove default letter was sent to borrower pursuant to paragraph 22 of the mortgage where bank's witness never testified that...more

Patton Sullivan Brodehl LLP

The Difference Between a “Voidable” and “Void” Assignment of a Deed of Trust, and Why It Matters

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For nearly three years, one of the rapidly developing areas of California foreclosure law has focused on whether a borrower has “standing” to challenge a wrongful foreclosure based on defective assignments of the note or deed...more

Troutman Pepper

Important Lessons for Mortgage Lenders in Delaware

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In a recent opinion, the Supreme Court of Delaware held that a mortgage holder must be entitled to enforce the underlying obligation that secures the mortgage in order to foreclose on the mortgage. As a result of the court’s...more

BCLP

Need Another Reason To Avoid Mixing Family & Finances?

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You have a big heart and a little bit of money. You want to help out a cash-strapped family member, and – “because you’re family” – you don’t put down how much you’ll loan or how it’ll be paid back. ...more

Faegre Drinker Biddle & Reath LLP

Illinois Court Finds Mortgage Assignments Not Subject To Chicago Transfer Tax

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The Appellate Court of Illinois, First District, recently concluded that the City of Chicago’s real property transfer tax did not extend to assignments of mortgages because, contrary to the City’s arguments, mortgage...more

Miller Canfield

Court Denies City of Chicago's Tax on Assignments of Mortgages

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In October 2015, we discussed Cook County, Illinois circuit court cases City of Chicago v. KTCP and Halsted West v. City of Chicago, which held that an assignment of a mortgage is a transfer of a “beneficial interest in real...more

Butler Snow LLP

Sixth Circuit Nixes TILA Rescission Claim

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Two homeowners tried to rescind their home mortgage loan when they weren’t notified that the deed of trust had been assigned. Although this argument may have been a creative way to stave off a foreclosure, it was not...more

Sheppard Mullin Richter & Hampton LLP

California Supreme Court Opens Door For Wrongful Foreclosure Lawsuits and Challenges to Transfers of Mortgages: Practical...

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In Yvanova v. New Century Mortgage Corporation et al, the Supreme Court of California reversed the Court of Appeal’s ruling, and held that a borrower plaintiff who has been subject to a nonjudicial foreclosure has standing to...more

Holland & Knight LLP

West Coast Real Estate Update: March 2016 #1

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Supreme Court of California Makes Mortgage Due Diligence More Difficult - The Supreme Court of California ruled that borrowers have standing to challenge a foreclosure on the grounds that an assignment of the mortgage...more

Blank Rome LLP

CA Supreme Court Unanimously Holds that a Mortgage Loan Borrower Has Standing to Sue for Wrongful Foreclosure due to Allegedly...

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Action Item: In a ruling last week, the California Supreme Court supported Glaski and issued a narrow holding that, post-foreclosure, borrowers have standing to assert wrongful foreclosure based on allegations that an...more

Locke Lord LLP

California Supreme Court Finds Borrowers Have Standing To Challenge “Void” Assignment Of Loan After Foreclosure Sale

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On February 18, 2016, the California Supreme Court issued its eagerly anticipated decision inYvanova v. New Century Mortgage Corporation, et al., Case No. S218973, finding that a borrower has standing to state a claim for...more

Bradley Arant Boult Cummings LLP

TILA Notice Requirement Not Retroactive: Ninth Circuit

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The Ninth Circuit Court of Appeals recently ruled that a 2009 amendment to the Truth in Lending Act (TILA) does not apply retroactively. In a putative class action, Plaintiffs Mohammad and Rosa Talaie brought a claim...more

Bradley Arant Boult Cummings LLP

Fifth Circuit Court of Appeals Upholds MERS’ Authority to Assign Mortgages

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The Fifth Circuit Court of Appeals recently handed Mortgage Electronic Registration Systems, Inc. (MERS) another victory against challenges to MERS’ authority to assign a mortgage. In Ferguson v. Bank of New York Mellon, the...more

Miles & Stockbridge P.C.

Mortgage Assignment Validity

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In Marcuzzo v. Bank of the West, 862 N.W. 2d 281 (Neb. 2015), the Nebraska Supreme Court upheld a lower court’s ruling that the borrower-plaintiffs in a consumer foreclosure action lacked standing to challenge the validity of...more

Seyfarth Shaw LLP

Court Decisions Extend Chicago’s Transfer Tax Ordinance to Cover Mortgage Assignment

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Earlier this month, in a case of first impression, the Circuit Court of Cook County, Illinois in the consolidated cases of City of Chicago v. KTCP 225, LLC, Case No. 13 L 050290, and City of Chicago v. Horizon Group XXI, LLC,...more

Bradley Arant Boult Cummings LLP

No Notice of Mortgage Assignment in Florida? No Problem

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Earlier this month, the United States District Court for the Southern District of Florida in Summerlin Asset Mgmt. V Trust v. Jackson decided an issue of first impression regarding whether compliance with Florida Statute...more

Bradley Arant Boult Cummings LLP

Borrowers Cannot Challenge Mortgage Assignments, Says Nebraska Joining Other States

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Attacking sufficiency, accuracy, or validity of assignments of mortgages and deeds of trust has been among the most common strategies employed by borrowers to challenge foreclosures. Allegations regarding the status of MERS,...more

Carlton Fields

Use of Prior Servicer’s Records at Trial Depends on Proper Foundation

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Mortgage servicing duties are routinely transferred, requiring lenders, servicers and financial institutions to rely on the prior servicer’s business records to prove their cases against borrowers – specifically, to prove the...more

Spilman Thomas & Battle, PLLC

Defeating Another Challenge to the Mortgage Electronic Registration System

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Since the mortgage crisis began several years ago, the Mortgage Electronic Registration System (“MERS”) has faced numerous legal attacks relating to foreclosures, assignments and what interest MERS holds in a deed of trust or...more

Spilman Thomas & Battle, PLLC

All Consuming - Legal Updates for Consumer Finance Professionals

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In This Issue: - Supreme Court Provides TILA Home Loan Rescission Guidance - West Virginia Legislature Proposes Changes to the WVCCPA - Defeating Another Challenge to the Mortgage Electronic Registration System...more

Troutman Pepper

Lost Mortgage Notes: Those Pesky State UCC Variations

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Desmond v Raymond C. Green, Inc. (In re Harborhouse of Gloucester, LLC), 523 B.R. 749 (1st Cir. BAP 2014) – A Chapter 7 trustee objected to the proof of claim filed by a downstream assignee of a lost mortgage note. ...more

Troutman Pepper

Mortgage Notes: Those Nasty Assignments!

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In re Baber, 523 B.R. 156 (Bankr. E.D. Ark. 2014) – The debtors objected to a proof of claim filed on behalf of a mortgagee based on issues arising from assignment of the mortgage note by the lender that originated the...more

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