News & Analysis as of

Mortgages › Foreclosure

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 -
Alston & Bird

Consumer Finance State Roundup

Alston & Bird on

The latest edition of the Consumer Finance State Roundup highlights recently enacted measures of potential interest from four states: Delaware:  Effective August 9, Senate Bill 245 amends mortgage foreclosure provisions of...more

Cadwalader, Wickersham & Taft LLP

Fool Me Once, Shame on You; Fool Me Twice, Shame on Me: Res Judicata and Ownership Claims Post Foreclosure

Cadwalader, Wickersham & Taft LLP on

The Supreme Court of the State of New York, County of Westchester, recently held that the doctrine of res judicata bars a lender’s claim that a borrower’s subsequent transfers of property are void, if the claim is brought...more

Locke Lord LLP

CFPB Proposes Changes to Loss-Mitigation Rules Under Reg. X; Are There Loper Implications?

Locke Lord LLP on

On July 10, 2024, the Consumer Financial Protection Bureau issued a proposed rule that would scuttle the current Regulation X mortgage servicing procedures in favor of a system that broadly construes requests for assistance...more

Nelson Mullins Riley & Scarborough LLP

Reacting to Tyler v. Hennepin County: Michigan Addresses Retroactivity of Legislative Fix

Nelson Mullins Riley & Scarborough LLP on

In a recent case, the Michigan Supreme Court issued an opinion in Schafer v. Kent County, No. 164975, addressing the critical issue of surplus equity stemming from a tax foreclosure within the context of the state...more

Cadwalader, Wickersham & Taft LLP

Stay Just a Little Bit Longer: Not Jackson Browne but the Statute of Limitations

Cadwalader, Wickersham & Taft LLP on

The Second Department recently held  in Trento 67, LLC v. OneWest Bank, N.A., et. al  that the FHA COVID-19 moratorium constituted a stay of foreclosures for federally-backed mortgages, and thus tolled the statute of...more

Holland & Knight LLP

CFPB Proposes New Restrictions on Mortgage Servicers Before Commencing Foreclosures

Holland & Knight LLP on

The Consumer Financial Protection Bureau (CFPB) on July 10, 2024, announced a proposed rule that would require servicers to more intently assist borrowers throughout a "loss mitigation review cycle" before being permitted to...more

McGlinchey Stafford

Ohio Appeals Court Finds Credence to “Show Me the Note” Theory in Foreclosure

McGlinchey Stafford on

On June 21, 2024, the Ohio Second Appellate District reversed a trial court decision granting plaintiff summary judgment in a residential foreclosure action, finding that a competing lienholder’s discovery request for...more

Holland & Knight LLP

Little-Known Chicago Rental Ordinance Amendment Impacts Unsuspecting Foreclosing Lenders

Holland & Knight LLP on

A foreclosing lender must offer existing Chicago tenants a new 12-month lease or pay them a substantial $10,600 relocation fee – and the tenant can decide which one to choose. This 2021 amendment to the Keep Chicago Renting...more

Alston & Bird

CFPB Releases Long-Awaited Proposal to Amend Regulation X Loss Mitigation Rules

Alston & Bird on

What Happened? On July 10, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) proposed a rule to amend provisions of its Mortgage Servicing Rules to significantly revamp requirements relating to borrowers...more

McGlinchey Stafford

Litigation Byte (June Edition)

McGlinchey Stafford on

The Litigation Byte is the new name and format for McGlinchey’s Commercial Law Bulletin. Our new format reflects McGlinchey’s national coverage and our expanded footprint while still serving up the digestible, insightful...more

Morrison & Foerster LLP

Deed in Escrow

Morrison & Foerster LLP on

Is a “deed in escrow,” sometimes referred to as a “deed in a box,” enforceable in New York? While many real estate attorneys believe that it is not, a recent court ruling illustrates that the answer may not be as...more

Orrick, Herrington & Sutcliffe LLP

VA announces its targeted foreclosure moratorium on VA loans

Orrick, Herrington & Sutcliffe LLP on

On May 29, the VA announced a targeted foreclosure moratorium on VA-guaranteed loans, which will give servicers time to implement the Veterans Affairs Servicing Purchase (VASP) program. Servicers can implement the VASP...more

McGlinchey Stafford

Alabama Supreme Court Clarifies Hold-Over Tenant Foreclosure Payment Rules

McGlinchey Stafford on

On May 31, 2024, the Alabama Supreme Court released its opinion in Crystal Kaye Coan v. Championship Property, LLC, SC-2023-0740. For the first time, the court held that a servicer and/or high bidder from a foreclosure sale...more

Orrick, Herrington & Sutcliffe LLP

Connecticut amends provisions of its Emergency Mortgage Assistance Payment program

Orrick, Herrington & Sutcliffe LLP on

On May 28, the Governor of Connecticut signed SB 283 (the “Act”) into law, introducing amendments to the Connecticut Housing Finance Authority’s (CHFA) Emergency Mortgage Assistance Payment (EMAP) program. This law will...more

Troutman Pepper

VA Announces “Targeted Foreclosure Moratorium” on VA Loans Through December 31, 2024

Troutman Pepper on

On May 29, the Department of Veterans Affairs (VA) announced a targeted foreclosure moratorium on VA-guaranteed loans intended to allow servicers sufficient time to implement the Veterans Affairs Servicing Purchase (VASP)...more

McGlinchey Stafford

Alabama Supreme Court Decision: Former Mortgagees are Necessary and Indispensable Parties in Ejectment Action with Wrongful...

McGlinchey Stafford on

In April 2024, the Alabama Supreme Court issued an opinion in Alavest, LLC v. Harris that significantly expands the application of Rule 19 of the Alabama Rules of Civil Procedure to post-foreclosure proceedings when it held...more

Orrick, Herrington & Sutcliffe LLP

Virginia amends its foreclosure procedures and requires an affidavit

Orrick, Herrington & Sutcliffe LLP on

Recently, the Governor of Virginia signed HB 184 (the “Act”) which amended the foreclosure procedures and subordinate procedures. Specifically, the Act added a requirement that if the proposed sale was initiated due to a...more

Bennett Jones LLP

Don't Let Caveats Mislead You: The Importance of Complying with Limitation Periods in Property Claims

Bennett Jones LLP on

In the realm of property law, caveats serve as a powerful tool for protecting interests in real estate. By registering a caveat on land titles, individuals or entities can assert a claim or encumbrance against a property,...more

King & Spalding

New York Appellate Division Dismisses Junior Mezz Lender’s Claims for Fraudulent Inducement and Fraudulent Concealment, Allows...

King & Spalding on

On January 18, 2024, New York’s Appellate Division rejected a junior mezzanine lender’s contention that it was fraudulently induced to amend the parties’ intercreditor agreement, because it failed to identify specific...more

Bradley Arant Boult Cummings LLP

The Case For Overturning Florida Foreclosure Ruling

Bradley Arant Boult Cummings LLP on

In an opinion written in under 1,000 words, Florida's Fourth District Court of Appeal put foreclosure cases across Florida in jeopardy in Desbrunes v. U.S. Bank National Association in February. Originally published in...more

Bradley Arant Boult Cummings LLP

Navigating Desbrunes: Implications and the Case for Overturning

Bradley Arant Boult Cummings LLP on

In a less-than-thousand-word opinion, the Fourth District Court of Appeal of Florida put foreclosure cases across Florida in jeopardy. Namely, in all foreclosure cases in which a borrower is deceased, unless the legal...more

Obermayer Rebmann Maxwell & Hippel LLP

Night of the Living Debt

Obermayer Rebmann Maxwell & Hippel LLP on

It’s the stuff of nightmares.  You think you have cleared all of the debt on your home when it goes into foreclosure, only for that debt to crawl up years later and attack you....more

Cadwalader, Wickersham & Taft LLP

Ex Parte Appointment of a Receiver Confirmed

Cadwalader, Wickersham & Taft LLP on

The New York County Supreme Court recently held that in the event of foreclosure, a receiver can be appointed, regardless of necessity, when the parties have contracted for such appointment. 24 West 57 APF LLC (“Defendant”)...more

Morrison & Foerster LLP

Scrivener’s Error in Guaranty Reformed Outside of Statute of Limitations and Held Enforceable

Morrison & Foerster LLP on

In an appeal heard by the Appellate Division of the Supreme Court in the First Judicial Department of New York, the Court recently ruled that a court may reform a guaranty after the statute of limitations for a reformation of...more

Alston & Bird

Fannie Mae Issues Guidance in Response to New York Foreclosure Abuse Prevention Act

Alston & Bird on

What Happened? On March 13, 2024, Fannie Mae issued Servicing Guide Announcement (SVC-2024-02) (the “Announcement”), which announced, among other things, updates to Fannie Mae’s Loan Modification Agreement (Form 3179), with...more

1,144 Results
 / 
View per page
Page: of 46
Next »

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide