News & Analysis as of

Real Estate Market Mortgages

Guidelines for best practices in real estate enforcement proceedings

The avalanche of bad loans that has hit Italy in recent years has drawn attention on the inefficiency of the judicial debt collection system, one of the leading causes of the banking crisis and the low prices that the banks...more

Mass. Appeals Court Rebuffs Mortgagee’s Novel Bid For Equitable Subrogation

by Pierce Atwood LLP on

In its decision yesterday in Wells Fargo Bank v. Comeau, the Massachusetts Appeals Court rejected the plaintiff mortgagee’s attempt to use the doctrine of equitable subrogation in a novel way: to impose on a surviving wife...more

Real Property, Financial Services, & Title Insurance Update: Weeks Ending November 3 & 10, 2017

by Carlton Fields on

REAL PROPERTY UPDATE FINANCIAL SERVICES UPDATE TITLE INSURANCE UPDATE - Misrepresentation: developer entitled to directed verdict on claims of fraudulent and negligent misrepresentation asserted by condominium association...more

The Perils of De Novo Review

Florida’s Third District Court of Appeal issued an opinion yesterday that highlights the perils of de novo review. De novo review is the broadest standard of review for an appellate court, reserved for construing pure...more

The Court of Appeals Examines the Promissory Estoppel/Statute of Frauds Relationship

by Farrell Fritz, P.C. on

In the past, New York Courts have demonstrated a willingness to apply the theory of promissory estoppel, to overcome the legal requirements of the Statute of Frauds. The Restatement (Second) of Contract, Section 139, endorses...more

Real Property, Financial Services, & Title Insurance Update: Week Ending October 20, 2017

by Carlton Fields on

REAL PROPERTY UPDATE FINANCIAL SERVICES UPDATE  TITLE INSURANCE UPDATE - Foreclosure: witness may testify as to business records of another company so long as that witness can lay proper foundation of personal knowledge...more

Linee guida per le buone prassi nel settore delle esecuzioni immobiliari

La valanga di crediti bancari incagliati (per non dire in sofferenza) che si è abbattuta sul nostro Paese negli ultimi anni ha acceso il faro sull'inefficienza del sistema giudiziario di recupero dei crediti che è una delle...more

Equitable Subrogation In Real Estate

by SmithAmundsen LLC on

The doctrine of conventional subrogation in real estate is familiar to most lenders: a new lender that pays the mortgage of a prior one steps into the shoes of – or is subrogated to – the prior lender’s security interest in...more

SEC No Action Letter Regarding Investments in Credit Risk Transfer Securities

On October 16, the SEC Division of Investment Management granted no-action relief in response to a request by Orrick on behalf of Redwood Trust. The Redwood request and the SEC staff response impact the way in which...more

Alabama Supreme Court: Mortgage Requirements Must Be Strictly Followed

by Balch & Bingham LLP on

In a recent surprising loss for mortgage holders, the Alabama Supreme Court held that a failure to strictly comply with the exact terms of the mortgage when conducting a foreclosure sale can result in the sale failing. Thus,...more

SEC No-Action Letter Regarding Investments in Credit Risk Transfer Securities

On October 16, the SEC Division of Investment Management granted no-action relief in response to a request by Orrick on behalf of Redwood Trust. The Redwood request and the SEC staff response impact the way in which...more

Can a Lease Survive Foreclosure?

by Locke Lord LLP on

Two recent federal foreclosure cases applied Texas law and one highlighted a fact situation that may involve a new (2015) statute. In Arbuckle v. Chesapeake, Case No. 3:14-CV-04584-M (N.D. Texas, Dallas Division September...more

Fast-Track Foreclosure Process Coming to Maryland, is Pennsylvania Next?

by Barley Snyder on

Pennsylvania now has two neighbors that have passed fast-track foreclosure bills and the Keystone State is considering adding its own as a method to avoid a backlog of blighted properties. Maryland recently joined Ohio in...more

Real Property & Title Insurance Update: Week Ending July 7, 2017

by Carlton Fields on

REAL PROPERTY UPDATE- Takings/Declaratory Relief: plaintiff’s request for a declaration that its further pursuit of a zoning application was futile was not a proper claim for declaratory relief – GolfRock, LLC v. Lee...more

CFPB Issues Policy Guidance on Early Implementation of the 2016 Mortgage Servicing Amendments

The Consumer Financial Protection Bureau (CFPB) released “policy guidance” on June 27, 2017 related to the effective dates of the 2016 mortgage servicing rule amendments. In response to repeated requests from the mortgage...more

The New 2016 ALTA Commitment with Florida Modifications: Expressing the Limitations on Liability

by Carlton Fields on

A significant change to one of the standard title insurance forms recently took effect. The new 2016 ALTA Commitment with Florida Modifications both streamlines the existing features of the title insurance commitment and, for...more

CFPB investigating Zillow for RESPA compliance

by Ballard Spahr LLP on

For years many industry participants wondered if allowing their real estate agents or loan officers to engage in co-marketing on Zillow Group applications and websites posed a risk to their companies under RESPA. The...more

Real Property & Title Insurance Update: Week Ending April 14 & 21, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Attorneys’ Fees: mortgage foreclosure plaintiffs seeking attorney’s fees must support their claim with competent, substantial evidence of the number of hours worked and evidence that...more

Enforcement of Vacant and Abandoned Property Ordinances on Rise

by Barley Snyder on

Banks and other mortgage servicers are receiving notices from companies like ProChamps, which have been retained to assist municipalities with enforcement of vacant property ordinances. These enforcement actions could...more

Recent MRB Administrative Actions Highlight that Minutiae Matters to HUD

by Ballard Spahr LLP on

On April 4, 2017, the Mortgagee Review Board (MRB) of the U.S. Department for Housing and Urban Development (HUD) published an entry in the Federal Register titled "Mortgagee Review Board: Administrative Actions." The entry...more

Bankruptcy Court Imposes Massively Disproportionate $45 Million Punitive Exaction, Then Plays Santa Claus With $40 Million Of It

A bankruptcy judge in the Eastern District of California recently issued a decision that is sure to raise appellate eyebrows. Concluding in In re Sundquist that the defendant bank had violated the automatic stay by...more

Real Property & Title Insurance Update: Week Ending March 31 & April 7, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Deficiency Judgment: where a foreclosing bank acquires in rem jurisdiction via service by publication in underlying foreclosure action, bank may still seek personal service over an...more

Real Property & Title Insurance Update: Week Ending March 24, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Condition Precedent: servicer did not meet its burden of proving it satisfied condition precedent of giving notice of acceleration by failing to provide evidence that notice letter had...more

A Pair of Unbrotherly Business Altercations Go to Trial

by Farrell Fritz, P.C. on

Like most civil cases, the vast majority of business divorce disputes get resolved before trial, which is disappointing for us voyeurs since only at trial with live witnesses undergoing cross examination does one get the full...more

Real Property & Title Insurance Update: Weeks Ending March 10 & 17, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Coequal Liens: trial court properly authorized tax collector to issue tax certificates subject to community development district’s assessment liens – Villages of Avignon Community Dev. Dist. v....more

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