Monthly Archives: January 2013
Alleged Violation of Deceptive Trade Practice Dismissed by Nevada Court
January 22, 2013
by Karl Dowden
In Medina v. Quality Loan Service Corp., et al., No. 12-CV-00428-KJD-PAL (D. Nev. Oct. 25, 2012), the district court in Nevada addressed the plaintiff’s claim of a violation of the Nevada Deceptive Trade Practices Act. The Act prohibits sellers from … Continue reading
Read MoreCFPB Issues Rule on Loan Originator Compensation
by David Reiss
Distorted mortgage broker incentives were one of the big problems during the Subprime Boom. Indeed, many lenders have since stopped outsourcing loan originator to mortgage brokers because a lot of the terrible loans they were stuck with had been originated … Continue reading
Read MoreNew York Supreme Court, Appellate Division Holds that Bank Has Standing to Foreclose
January 18, 2013
by Michael Liptrot
In Countrywide Home Loans, Inc. v Delphonse, 64 A.D.3d 624 (2d Dept. 2009) the Supreme Court, Appellate Division, Second Department found that the lender, Countrywide Home Loans (Countrywide), had standing to foreclose on the Delphonses, the homeowners in the case, … Continue reading
Read MoreRental Housing Market Trends — Growing Demand, Unsurprisingly
January 17, 2013
by David Reiss
The Bipartisan Policy Center has an interesting “infographic.” I found the demographic information to be of particular note. The Center says that Baby Boomers, Echo Boomers, Former Homeowners and Recent Immigrants will be driving demand.
Read MorePlaintiff’s Claim Against MERS Time-Barred in Nevada
by Karl Dowden
In Haischer v. Mortgage Electronic Registration Systems, Inc., et al., No. 2-11-cv-01786-GMN-RJJ (D. Nev. Sep. 17, 2012), the plaintiff challenged a foreclosure after the property was sold at a foreclosure auction. The plaintiff requested an order to set aside the … Continue reading
Read MoreCFPB Issues New Rules To Protect Homeowners in Foreclosure
by David Reiss
The CFPB issued new rules today that increase protections for homeowners in foreclosure. The 2013 Real Estate Settlement Procedures Act (Regulation X) and Truth in Lending Act (Regulation Z) Mortgage Servicing Final Rules. These rules are a first national standard … Continue reading
Read MoreNew Jersey Superior Court Dismisses Foreclosure Suit, Requiring Physical Possession of Note & Mortgage at Time of Filing
by Joseph Kelly
In Bank of New York v. Raftogianis, 418 N.J. Super. 323, 13 A.3d 435 (Ch. Div. 2010) the Superior Court of New Jersey, Chancery Division, Atlantic County, found that although the lender had not separated the note and mortgage through … Continue reading
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