News & Analysis as of

Standing Mortgage Lenders

Womble Bond Dickinson

Equitable Defense Proves Valuable in FCRA Suit

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The U.S. District Court for the Western District of North Carolina found that the plaintiff was equitably estopped from pursuing a FCRA claim in light of her behavior related to the manner in which she chose to make her...more

Hinshaw & Culbertson - Consumer Crossroads

Second Circuit Rules Homeowners Established Article III Standing for Statutory Damages Claim

On May 10, 2021, ruling on an issue of first impression, the U.S. Court of Appeals for the Second Circuit in Maddox v. Bank of New York Mellon Trust affirmed denial of BNY Mellon's motion for judgment on the pleadings,...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending February 14, 2020

Carlton Fields on

Real Property Update - Foreclosure / Standing: Where plaintiff was substituted in as a party plaintiff after original note was filed with the court, introduction of original note bearing blank indorsement into evidence at...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending November 22, 2019

Carlton Fields on

Real Property Update - Foreclosure / Rehearing: Order denying rehearing on summary judgment motion and denying continuance affirmed where (1) affidavit in support of rehearing failed to disclose any genuine issue of...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending April 26, 2019

Carlton Fields on

Real Property Update - • Foreclosure / Reverse Mortgage / Condition Precedent: bank failed to establish that the subject property was not the principal residence of surviving co-borrower under its reverse mortgage, a...more

Carlton Fields

Financial Services Update: Week Ending January 11, 2019

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Financial Services Update - FCRA / Standing: concluding that plaintiffs had Article III standing in putative class action where they alleged that defendant violated the FCRA by "compiling their personal, private, and...more

Snell & Wilmer

Not so Fast! How Does Revoking Acceleration of a Note Impact the Statute of Limitations?

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Lenders routinely accelerate notes after a default occurs, calling the entire loan due immediately. Less regularly, a lender may change its mind and unilaterally revoke the acceleration. Rarely, however, does a lender fail to...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Weeks Ending December 1 & 8, 2017

Carlton Fields on

REAL PROPERTY UPDATE - - Foreclosure/Errors in Legal Description: error in legal description did not preclude judgment of foreclosure because property was sufficiently identified by accurate lot and tract, street address,...more

Carlton Fields

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

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REAL PROPERTY UPDATE - Foreclosure/Standing: note owner had constructive possession of promissory note in original servicer’s physically possession of blank-endorsed note when it filed the complaint, and had standing to...more

Locke Lord LLP

No Standing = No Fees: Turning the Tide in Favor of Lenders and Servicers in the fight for fees in Florida

Locke Lord LLP on

On July 12, 2017, Locke Lord was successful in obtaining an order in a Florida trial court denying a borrower’s request for an award of attorneys’ fees following a successful argument that the plaintiff lacked standing to...more

Carlton Fields

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

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

Carlton Fields

Real Property & Title Insurance Update: Week Ending May 19 & 26, 2017

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Real Property Update - Foreclosure/Standing/Lost Note: if plaintiff did not have right to enforce note when lost, plaintiff should present evidence of assignment from payee to plaintiff or affidavit of ownership - ...more

Best Best & Krieger LLP

Cities Can Sue Banks for Predatory Lending, U.S. Supreme Court Says

While the nationwide economy has steadily improved since the recession, many cities are still clawing their way back to financial stability. California, in particular, was hit hard by the foreclosure crisis, leaving cities in...more

Best Best & Krieger LLP

U.S. Supreme Court Sides with Cities, Allowing Lawsuits Against Banks for Fair Housing Act Violations - Bank of America v. City of...

The U.S. Supreme Court has given the City of Miami the go-ahead to sue banks under the Fair Housing Act for alleged racially discriminatory lending practices that resulted in increased foreclosures and fiscal harm to the...more

Carlton Fields

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

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

Carlton Fields

Real Property & Title Insurance Update: Week Ending February 10, 2017

Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure: where foreclosing bank, who purchased debt from original mortgagee, failed to establish standing to enforce lost note “through evidence of a valid assignment, proof of purchase of the...more

Carlton Fields

Real Property & Title Insurance Update: Week Ending February 3, 2017

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REAL PROPERTY UPDATE: Foreclosure/Sufficiency of Notice: although lender’s notice of default did not expressly state that property could be sold in foreclosure, it substantially complied with notice provision (paragraph...more

Carlton Fields

Real Property & Title Insurance Update: Weeks Ending November 4 & 11, 2016

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REAL PROPERTY UPDATE - Foreclosure/Constitutional Challenge: record title owner’s argument that Florida Statutes section 702.035, governing “Legal notice concerning foreclosure proceedings,” is an unconstitutional...more

Carlton Fields

Real Property & Title Insurance Update: Week Ending October 14, 2016

Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Standing: foreclosing bank did not establish standing where it failed to submit evidence it was in possession of original note with blank endorsement at time of filing of foreclosure...more

Morrison & Foerster LLP

Financial Services Report, Fall 2016

Editor’s Note - So much for summer! The weather is cooling, the kids are back to school, and we better not see you wearing white so long after Labor Day! For those of you having a little trouble getting back in the...more

Carlton Fields

Real Property & Title Insurance Update: Weeks Ending September 2 & 9, 2016

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REAL PROPERTY UPDATE: Foreclosure/Standing: where copy of note attached to foreclosure complaint contained no endorsement and original note presented at trial had endorsement in favor of plaintiff, plaintiff required to...more

Hinshaw & Culbertson LLP

Consumer Financial Services Newsletter - August 2016

Seventh Circuit Rules: Filing a Proof of Claim for Old Debt Is Okay — Circuits Split - Owens et al. v. LVNV Funding LLC et al., Nos. 15-2044, 15-2082, 15-2109 (7th Cir. Aug.10, 2016) - In Owens v. LVNV Funding LLC,...more

Carlton Fields

Real Property & Title Insurance Update: Week Ending August 12, 2016

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REAL PROPERTY UPDATE: Jurisdiction/Deficiency Judgment: Second DCA agrees with Third DCA that “a circuit court has subject matter jurisdiction to adjudicate an independent deficiency action when the plaintiff had...more

Carlton Fields

Real Property & Title Insurance Update: Week Ending August 5, 2016

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REAL PROPERTY UPDATE - Foreclosure/Discovery: Good cause not found to enter protective order preventing owner of property, subject to foreclosure, from deposing bank’s only witness on basis that owner of property was not...more

Dorsey & Whitney LLP

Banks Appeal Fair Housing Act Case to Supreme Court

Dorsey & Whitney LLP on

In September 2015, the Eleventh Circuit ruled that the City of Miami had sufficient standing to sue Bank of America and Wells Fargo over lending practices that were alleged to be racially discriminatory. On June 28, 2016,...more

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