On June 27, 2022, the Office of the Comptroller of the Currency (OCC) released its First Quarter 2022 Mortgage Metrics Report on the status of first-lien home mortgages held by seven national banks with large servicing...more
REAL PROPERTY UPDATE - Foreclosure/Short Sale/Statute of Limitations: Florida Statute section 95.11(5)(h)’s one year statute of limitations period does not apply to bar Bank’s cause of action for deficiency judgment arising...more
It’s sure been busy at our State Capitol here in California this week. While the Legislators were furiously debating an increase in our state gas tax (already one of the highest in the nation), the California Mortgage Bankers...more
REAL PROPERTY UPDATE - Vacation of Subdivision Plats: boards of county commissioners have limited authority under Fla. Stat. sec. 177.101(3) to grant or deny platted property owner’s request for vacation of plat; if...more
REAL PROPERTY UPDATE - Foreclosure/Bankruptcy Stay: because borrower’s notice of appeal was filed during pendency of bankruptcy stay it was a nullity, and appellate court lacked jurisdiction to consider appeal –Hewett v....more
Social media has become an integral part of our society, and now it's playing a big role in our industry, too. The Consumer Financial Protection Bureau (CFPB) is harnessing the power of Facebook and Twitter not only to create...more
REAL PROPERTY UPDATE: Tax Deed Sale/Due Process: after certified letter notifying property owner of tax deed sale returned unopened and unclaimed, due process required clerk of court take reasonable steps to notify...more
Among the many changes in the financial services industry, two important events occurred this year that effectively signaled the extinction of deficiency judgments in loans secured by residential property. ...more
Lenders have a number of options when faced with a borrower in default. In Tennessee, one option to seriously consider is seeking appointment of a receiver. A receiver will step into the role of the borrower or management...more
In This Issue: - Financial Industry Developments •CFPB Implementation Plan for Mortgage Rules •FDIC Proposed Rule on Insured Deposits at Foreign Branches of U.S. Banks •CFPB Bulletin on Servicers'...more
California enacted a number of pieces of legislation over the last year or so of great importance to insolvency professionals. These include bills impacting mortgage foreclosures, sales of tax-defaulted property, wage...more