August 29, 2013
Homeowner Can Challenge Mortgage Assignment
Judge Kennelly has ruled that a homeowner can challenge a mortgage assignment under Illinois law in Elesh v. MERS et al., No. 12 C 10355 (N.D. Ill. Aug. 16, 2013). The Court stated that Defendants argue that Elesh is not … Continue reading
August 29, 2013 in 2013 | Permalink | No Comments
August 19, 2013
NJF and UCC and Contract Law, Oh My!
Parsing how a court should approach a particular deed of trust foreclosure case can put you to sleep faster than crossing the poppy fields next to the yellow brick road. Does the Non-Judicial Foreclosure (NJF) statute govern? Does the state’s … Continue reading
August 19, 2013 in 2013 | Permalink | No Comments
August 15, 2013
Laches Upends Priority of Mortgagee in Utah
Professor Wilson Freyermuth posted this summary of the Utah Supreme Court’s opinion, Insight Assets, Inc. v. Farias, ___ P.3d ___, 2013 WL 3990783 (August 6, 2013), to the DIRT listserv: Synposis: Although vendor purchase money mortgagee may generally have a … Continue reading
August 15, 2013 in 2013 | Permalink | No Comments
August 1, 2013
A REMIC Unraveling?
An unpublished opinion, Glaski v. Bank of America, No. F064556 (7/31/13, Cal. 5th App. Dist.), presents one possible future for REMICs that failed to comply with the strict rules set for them by Congress and the IRS. Glaski, a homeowner, … Continue reading
August 1, 2013 in 2013 | Permalink | No Comments
July 19, 2013
Bad Faith Remedies for Loan Modification Negotiations
New York Supreme Court Justice Torres (Bronx) issued a Decision and Order in Citibank, N.A. v. Barclay et al., No. 381649-09 (June 21, 2013), in which he evaluated what the appropriate remedies were for failing to negotiate in “good faith” … Continue reading
July 19, 2013 in 2013 | Permalink | No Comments
June 17, 2013
Why We Need The CFPB
Judge Illston (N.D. CA.) has preliminarily approved a settlement of a class action in Jordan et al. v. Paul Financial LLC et al., No. 3:07-cv-04496 (June 14, 2013). The class action arises from lender practices during the Subprime Boom of the … Continue reading
June 17, 2013 in 2013 | Permalink | No Comments
June 13, 2013
Shaky South Carolina Opinion Finds That Bank Owned Note in Foreclosure Action
The South Carolina Court of Appeals held in Bank of America v. Draper et al., no. 5140 (June 5, 2013) that Bank of America had standing in a foreclosure action and had proved that it owned the mortgage note. The … Continue reading
June 13, 2013 in 2013 | Permalink | No Comments
