News & Analysis as of

Takings Clause Mortgages

Nelson Mullins Riley & Scarborough LLP

Reacting to Tyler v. Hennepin County: Michigan Addresses Retroactivity of Legislative Fix

In a recent case, the Michigan Supreme Court issued an opinion in Schafer v. Kent County, No. 164975, addressing the critical issue of surplus equity stemming from a tax foreclosure within the context of the state...more

Troutman Pepper

Oregon Banks and Trade Association File Declaratory Action Requesting Relief from State Legislation Alleged to be Retroactively...

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On August 13, 2020, the Oregon Bankers Association (“OBA”) and three Oregon-chartered banks filed a Complaint for declaratory and injunctive relief against the State of Oregon, Oregon’s Attorney General, and the Director of...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending November 15, 2019

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Real Property Update - Foreclosure / Notice: Mail log sufficient evidence to establish mailing of notice to borrower of default and possibility of foreclosure – Stacknik v. U.S. Bank, N.A., No. 2D18-2156 (Fla. 2d DCA Nov....more

Carlton Fields

Real Property & Title Insurance Update: Week Ending June 16 & 23, 2017

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Real Property Update - US Supreme Court - Regulatory Taking: owner of parcel A, that took title to adjacent parcel B after regulation restricting use of parcels had been passed, lost grandfather rights for both parcels by...more

Ballard Spahr LLP

Nev. Supreme Court Holds HOA Foreclosure Statute Constitutional, Splits with Ninth Circuit

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The Nevada Supreme Court has upheld the constitutionality of Nevada's pre-2015 statutory scheme for homeowners association (HOA) foreclosures. This decision contradicts the Ninth Circuit Court of Appeals' conclusion that the...more

Carlton Fields

Real Property & Title Insurance Update: Weeks Ending September 23 & 30, 2016

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REAL PROPERTY UPDATE - Foreclosure/Hearsay/Business Records: trial court abused its discretion by excluding the mortgage records, which included records from a prior servicer, where plaintiff’s witness demonstrated...more

Carlton Fields

Real Property, Financial Services & Title Insurance Update: Week Ending October 2, 2015

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REAL PROPERTY UPDATE - - Foreclosure/Standing: owner, who took title to property after lis pendens was recorded and who did not appeal denial of motion to intervene, did not have standing to appeal judgment of...more

Bradley Arant Boult Cummings LLP

Constitutional Clarification for Nevada HOA Super-Priority Foreclosures

Since the Nevada Supreme Court’s infamous decision in SFR Investments Pool 1, LLC v. U.S. Bank, N.A. in September 2014, the mortgage community has continued to fight to save senior deeds of trust from extinguishment due to an...more

Spilman Thomas & Battle, PLLC

California Investment Firm and City Team Up to Erase Mortgages Through Eminent Domain

If a California investment firm and the City of Richmond, California have their way, the mortgage industry may face a new threat: a plan to use government’s eminent domain power to seize homes where homeowners owe more than...more

Goodwin

Bank of New York Mellon Corp. Sues to Block City of Richmond’s Condemnation of Home Loans

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The Bank of New York Mellon Corporation (BNY) is seeking an injunction to prevent the City of Richmond, California from using eminent domain powers to seize and refinance more than 600 home loans with outstanding balances...more

Nossaman LLP

Federal Court Halts Lender Underwater Mortgages Lawsuit Against Richmond

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On September 12, the City of Richmond caught a small reprieve with respect to its plan to condemn underwater mortgages. As reported by Reuters, the federal district court ruled that the lawsuit filed by lenders Wells Fargo,...more

Sheppard Mullin Richter & Hampton LLP

Showdown in the Richmond: The City of Richmond Threatens Eminent Domain on Underwater Loans

BREAKING NEWS: In a contentious 4-3 decision and amid more than 300 community members on both sides of the issue, the City Council for the City of Richmond voted to continue pursuing its eminent domain plan in the early...more

Nossaman LLP

The City of Richmond Remains Undeterred in its Quest to Condemn Underwater Mortgages

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Despite three major banks filing federal lawsuits against the City of Richmond last month related to its plan to condemn underwater mortgages, the City continues to press on. On Tuesday, the City voted 4-3 to continue its...more

Nossaman LLP

Big Year For Published Eminent Domain Decisions

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Originally Published in Daily Journal, January 15, 2013. As we look back on 2012, federal funds continued to make their way to local projects and shovels continued to break ground for infrastructure projects. This led to...more

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