Mortgages, Acceleration

Making Lemonade from Lemons: A Mortgage Lender's Guide to Successful Loan Workouts, Part 4

Holland & Knight LLP on 6/12/2024

The first three articles in this series took you through the steps for developing a workout strategy. If you have followed those recommendations, you understand where you are and where you want to be. You have also developed...more

Making Lemonade from Lemons: A Mortgage Lender's Guide to Successful Loan Workouts, Part 2

Holland & Knight LLP on 5/15/2024

If you are a mortgage lender who followed the recommendations in the first article in this series, then you should have a solid grasp of your mortgage portfolio. You have identified the relevant players and their respective...more

Akerman Team Supports Shellpoint Successfully Reversing Texas Trial Court Opinions Voiding Liens Based on Statute of Limitations

Akerman LLP on 5/17/2021

Akerman recently obtained judgments from Texas’s 9th and 14th courts of appeals on behalf of Shellpoint Mortgage Servicing reversing Harris and Jefferson county district court judgments invalidating its liens based on the...more

New York State Court of Appeals Provides Guidance on Acceleration in Foreclosure Cases

Harris Beach PLLC on 3/9/2021

The New York State Court of Appeals recently provided much needed guidance to mortgagees on the issue of acceleration and determining the commencement date for the statute of limitation after acceleration in the decision...more

Landmark New York Court of Appeals Decision Clarifying Calculation of Statute Of Limitations in Mortgage Foreclosure Actions

Hinshaw & Culbertson - Consumer Crossroads on 2/23/2021

The New York Court of Appeals reversed four Appellate Division decisions and decided in favor of the mortgagees in a consolidated decision issued on February 18, 2021, ruling, inter alia, that...more

The Massachusetts Supreme Judicial Court Ends Confusion on Right to Reinstate Prior to Foreclosure

Locke Lord LLP on 12/4/2020

On November 25, 2020, the Supreme Judicial Court of Massachusetts (“SJC”) issued a decision in Thompson v. JPMorgan Chase Bank, N.A., SJC-12798, ___ Mass ___ (2020), holding that state law overrides the requirement in the...more

Alabama Appellate Court Voids Foreclosures For Using The Word “May”

Balch & Bingham LLP on 11/19/2020

This past June, in Barnes v. U.S. National Bank, No. 2180699, the Alabama Court of Civil Appeals held that a mortgagee’s notice of acceleration failed to strictly comply with the notice provisions contained in Paragraph 22...more

Is my conduct a violation of the Consumer Sales Practices Act?

McGlinchey Stafford on 10/6/2020

The Bullet Point: Ohio Commercial Law Bulletin Is my conduct a violation of the Consumer Sales Practices Act? Volume 4, Issue 18 October 2, 2020 Unconscionable arbitration agreement Klonowski v. Lynch, 8th Dist. Cuyahoga...more

New York Appellate Division Third Department Joins Second Department On Issues Concerning Mortgage Loan Acceleration And A...

McCarter & English, LLP on 1/10/2020

Introduction- The New York Appellate Division Third Department reached three notable determinations being closely monitored by the mortgage servicing and lending industry in the case Wells Fargo Bank, N.A. v. Portu, 2020...more

Real Property, Financial Services, & Title Insurance Update: Week Ending December 6, 2019

Carlton Fields on 12/13/2019

Real Property Update - Due Process: Trial court violated developer’s due process rights by considering and ruling upon developer’s motion to quash service of process, which was not set for hearing, despite developer’s...more

Borrower’s Death Does NOT Automatically Accelerate a Reverse Mortgage

BCLP on 5/14/2019

Does the death of the borrower automatically accelerate a reverse mortgage? In a decision that is good news for reverse mortgage lenders, a recent New York appellate court answered no....more

RESPA is a Shield, Not a Sword

BCLP on 4/29/2019

In a case of first impression, the Fifth Circuit held that a defendant is not required to plead as an affirmative defense under the Real Estate Settlement Procedures Act that it had complied with Section 1024.41 of the Code...more

Filling an Enforcement “Make-Whole”: Bankruptcy Court Enforces Prepayment Premium Notwithstanding Prepetition Loan Acceleration

Cadwalader, Wickersham & Taft LLP on 3/28/2019

On March 18, 2019, Judge Stuart M. Bernstein of the United States Bankruptcy Court for the Southern District of New York issued a decision enforcing a mortgage lender’s claim for a prepayment premium (a/k/a make-whole or...more

NY Second Department Appellate Division Finds That Mortgage Loan Is Accelerated For Purposes Of The Statute Of Limitations...

McCarter & English, LLP on 3/20/2019

In Bank of New York Mellon v. Dieudonne, a highly anticipated decision for the mortgage servicing and lending industry, the New York Appellate Division’s Second Department held that a residential mortgage accelerates upon the...more

NY’s Fourth Department Holds That Notice of Default Did Not Provide Clear and Unequivocal Notice to Accelerate the Debt

Blank Rome LLP on 11/20/2018

In Ditech Financial LLC v. Corbett, 2018 WL 6006682, at *1, —N.Y.S.3d —- (2d Dept. Nov. 16, 2018), the Appellate Division, Fourth Department, held that a notice of default sent to the borrowers-defendants, which discussed a...more

NY Appellate Court Holds Default Letter Stating Debt “Will Be Accelerated” Does Not Accelerate the Debt, De-Acceleration Must Be...

Blank Rome LLP on 8/20/2018

Mortgagees and their servicers should take note that a New York appellate court has confirmed that a default letter, stating the mortgage debt “will be accelerated” if the default is not cured, does not clearly and...more

Does the Word 'Will' Clearly Accelerate a NY Mortgage Debt?

Blank Rome LLP on 8/9/2018

Mortgage servicers and other financial institutions have been battling the issue of what affirmative act “clearly and unequivocally” accelerates a mortgage debt for years. Currently, there is a split in authority between the...more

New York decision on use of "De-Acceleration" letters to combat statute of limitations to foreclose

Hogan Lovells on 6/27/2018

On 23 May 2018, New York’s Appellate Division, Second Judicial Department (an intermediate appellate court covering a vast swath of “downstate” New York) decided Soroush v. Citimortgage, Inc. – a closely watched case that...more

Federal District Court Pumps the Brakes on Borrower’s Post-Acceleration FCRA Class Action Lawsuit

Locke Lord LLP on 12/21/2017

On December 11, 2017, Locke Lord obtained a dismissal with prejudice of a punitive class action. In Leones v. Rushmore Loan Management Services, LLC, No. 0:17-CV-61216-WPD (S.D. Fla. Dec. 11, 2017), the United States...more

Recent Cases Highlight Latest Potential Foreclosure Evidentiary Pitfall

Bradley Arant Boult Cummings LLP on 5/10/2017

Over the last few years, financial institutions have been forced to modify their policies and procedures to ensure that they are able to demonstrate compliance with notice provisions contained in residential mortgages prior...more

Real Property & Title Insurance Update: Week Ending March 31 & April 7, 2017

Carlton Fields on 4/12/2017

REAL PROPERTY UPDATE - Foreclosure/Deficiency Judgment: where a foreclosing bank acquires in rem jurisdiction via service by publication in underlying foreclosure action, bank may still seek personal service over an...more

Federal Court Finds Foreclosing Mortgagees Must Strictly Comply with “Paragraph 22” Under Rhode Island Law, Consistent With Recent...

Locke Lord LLP on 11/29/2016

The United States District Court for the District of Rhode Island recently decided that a mortgagee must strictly comply with paragraph 22 of the mortgage in order to obtain a valid foreclosure in Rhode Island. Martins v....more

Florida Supreme Court Holds That Limitations Period Does Not Bar Second Foreclosure Within 5 Years of Default Without Regard to...

Locke Lord LLP on 11/7/2016

The Florida Supreme Court has decided a question of critical importance to the mortgage servicing industry: Whether, following involuntary dismissal of a foreclosure action, the mortgagee must commence a subsequent...more

A Trifecta of Legal Victories for Lenders in Florida

Foley & Lardner LLP on 4/21/2016

Deutsche Bank Trust Co. v. Beauvais, Case No.: 3D14-575 (Fla 3rd DCA April 13, 2016) - Based on Beauvais, lenders should take a look at their loan documents, paying particular attention to any non-waiver and...more

First Circuit Holds Failure to File a Claim in Probate Proceedings Would Not Bar Foreclosure

Ballard Spahr LLP on 1/22/2016

The failure of a mortgagee to file a claim in the probate of an estate does not bar the mortgagee from later pursuing a foreclosure, the U. S. Court of Appeals for the First Circuit recently held. The plaintiff inherited a...more

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