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Retroactive Application Foreclosure

McGlinchey Stafford

Litigation Byte (December Edition)

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Delivered in digestible, insightful bites, McGlinchey’s Litigation Byte is a monthly roundup of financial services decisions and cases nationwide that impact your business....more

McGlinchey Stafford

The Second Department Rejects Constitutional Challenge to FAPA

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On December 4, 2024, the Appellate Division, Second Department affirmed the trial court’s retroactive application of the Foreclosure Abuse Prevention Act (FAPA) to dismiss the re-commenced foreclosure action as time-barred...more

Troutman Pepper Locke

Update: Mortgage Noteholders Patiently Wait as Second Circuit Punts FAPA Retroactive Application Question To New York Court Of...

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Can the Foreclosure Abuse Prevention Act (FAPA) be applied retroactively? Unfortunately, mortgage noteholders lack a clear response....more

Holland & Knight LLP

Federal Appeals Court: Can FAPA Be Applied Retroactively in New York?

Holland & Knight LLP on

In East Fork Funding LLC v. U.S. Bank, National Association, as Trustee for Greenpoint Mortgage Funding Trust Mortgage Pass-Through Certificates, Series 2006-AR6, No. 23-659, 2024 WL 4351792 (2d Cir. Oct. 1, 2024),1 the U.S....more

Goodwin

Constitutionality of Shortened Time Limits on New York Foreclosures Still Unresolved

Goodwin on

​​​​​​​On September 12, 2024, New York’s highest court dismissed an appeal challenging the constitutionality of the retroactive application of the Foreclosure Abuse Prevention Act (“FAPA”), a law that amended certain New York...more

Goodwin

Awaiting Appellate Precedent on Whether Recent New York Foreclosure Limits Are Constitutional

Goodwin on

​​​​​​​Over a year after becoming law, New York’s Foreclosure Abuse Prevention Act, L. 2022, ch. 821 (eff. Dec. 30, 2022) (FAPA) continues to divide trial courts regarding the constitutionality of the law’s retroactive...more

Mayer Brown

New York Enacts Retroactive Foreclosure Legislation

Mayer Brown on

While many around the world are setting their calendars forward for the year 2023, residential mortgage loan owners and servicers may need to also look backward in time now that New York Governor Kathy Hochul signed the...more

Miller Canfield

Michigan Court of Appeals Upholds Taxpayer Recovery of Excess Tax Foreclosure Proceeds, Bars Multi-County Class Actions

Miller Canfield on

Key Takeaways - ..The Michigan Court of Appeals rejected an effort to allow class action recovery of excess proceeds from the sale of tax foreclosed properties. ..The Court ruled that the Michigan Supreme Court's 2020...more

Bradley Arant Boult Cummings LLP

Fourth Circuit Asked to Rule on Whether Mortgage Retroactively Incorporates Federal Servicing Requirements

A recent appeal to the Fourth Circuit may shed light on whether Virginia borrowers can assert federal mortgage servicing requirements as a defense to foreclosure when the mortgage instrument pre-dates the federal requirement....more

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