Bar Exam Toolbox Podcast Episode 146: Listen and Learn -- Mortgages and Priority
On November 14, 2024, the United States Court for the District of Arizona dismissed a pro se litigant’s claims against Sun West Mortgage Company, Inc. (Sun West) and Cody N. Crosier, foreclosure counsel for Sun West...more
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
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
Volume 4, Issue 2, 2024 Welcome! Welcome to the second issue of Promissory Notes - our banking and finance e-newsletter - for 2024. Business today is characterized by relentless change. To assist our clients in navigating...more
Ohio- Enforceability of Arbitration Agreement- Bryan Costin v. Midwest Vision Partners LLC., 8th Dist. Cuyahoga No. 112651, 2024-Ohio-463. The Eighth District Court of Appeals recently affirmed the trial court’s ruling...more
Obligations reduced to a promissory note are often accompanied by a written guaranty. The law treats the guaranty as an independent obligation. A case recently decided by California’s First District Court of Appeal —...more
Most of us wander through life unconcerned about the vagaries of house finance laws until we decide we want a house. Candidly, because of how house purchases come about, most of us don’t know much about mortgage financing...more
Like many of you, we are seeing a significant increase in commercial real estate (“CRE”) loan workouts. The magnitude of the swell in distressed CRE loans remains unclear, although one thing is certain: appreciating the...more
In the age of digital transactions and DocuSign, the importance of lenders storing and maintaining original loan documents has waned. But exceptions persist. In a recent decision, the Washington Court of Appeals (Division I)...more
Ohio- Non-Signatory Compelling Arbitration Duff v. Christopher, 11th Dist. Lake, No. 2023-Ohio-349. In this appeal, the Eleventh Appellate District affirmed in part and reversed in part a trial court’s decision compelling...more
Ohio- Liquidated Damages- Pacetti’s Apothecary v. Rebound Bracing & Pain Sol. Inc., 2d Dist. Greene, No. 2023-Ohio-93. In this appeal, the Second Appellate District affirmed the trial court’s decision finding that a late...more
On January 18, 2021, the Washington Court of Appeals in Copper Creek (Marysville) Homeowners Ass’n v. Kurtz reaffirmed an important rule related to real property foreclosures and the statute of limitations after a bankruptcy...more
Ohio- Insurance coverage for data breach- Emoi Servs., LLC v. Owners Ins. Co., 2d Dist. Montgomery No. 29128, 2021-Ohio-3942 In this appeal, the Second Appellate District reversed and remanded the trial court’s...more
Welcome back to the Bar Exam Toolbox podcast! In today's installment of our "Listen and Learn" series, we're focusing on Real Property. In particular, we're diving into the tricky subtopic of mortgages and priorities. In...more
A recent decision from The Supreme Court of Florida (the “Florida Supreme Court”) in WVMF Funding v. Luisa Palmero, et al. (Fl. S. Ct.; SC19-1920, June 24, 2021) held that, while a note and mortgage must be read together, in...more
Unconsionability Defense to Arbitration- Sebold v. Latina Design Build Group, L.L.C., 8th Dist. Cuyahoga No. 109362, 2021-Ohio-124 In this appeal, the Eighth Appellate District affirmed the trial court’s decision agreeing...more
Oscar Wilde is quoted for saying—“To expect the unexpected shows a thoroughly modern intellect.” This advice certainly holds true for a senior deed of trust lienholder contemplating foreclosure on real property security. ...more
Over the last decade or so, many Nevada borrowers faced with foreclosure of their residences have objected to foreclosure proceedings because the lender does not hold the original promissory note. In Jones v. U.S. Bank...more
The Supreme Court of Texas held that a limited partner had standing to sue for alleged loss in the value of its interest in the partnership, but reversed a damages award in favor of that limited partner for insufficient...more
Shareholder Derivative Lawsuit Aungst v. Light, 9th Dist. Summit No. 29349, 2020-Ohio-3347 In this appeal, the Ninth Appellate District affirmed the trial court’s decision, finding that when a shareholder’s derivative...more
Real Property Update - Foreclosure / Bankruptcy / Surrender: borrower cannot challenge judgment of foreclosure entered upon judicial notice of his statement of intention to surrender the property and order of discharge...more
In In re Fortin, 598 B.R. 689 (Bankr. D. Mass. 2019), the United States Bankruptcy Court for the District of Massachusetts considered whether a lender may enforce a mortgage despite the unenforceability of the underlying...more
Late last month, the U.S. Court of Appeals for the Eleventh Circuit held in Regions Bank v. Legal Outsource PA, No. 17-11736, 2019 WL 4051703 (11th Cir. Aug 28, 2019), that a loan guarantor does not qualify as an “applicant”...more
Two recent Massachusetts Appeals Court decisions offer both clarity and caution to mortgage lenders seeking to enforce their loan documents. These decisions address the importance of properly drafting prepayment provisions in...more
Real Property Update - Foreclosure / Attorneys' Fees: borrower not entitled to attorneys' fees for prevailing on lender's claim for reformation of mortgage, where lender prevailed on claim of foreclosure without...more