Several years ago, we assisted a lender who foreclosed on rural residential property and then discovered that vandals had removed metal pipes from the basement of the house. That was bad enough, but the removed piping had...more
8/30/2016
/ Asbestos ,
Banking Sector ,
Contamination ,
Environmental Liability ,
Foreclosure ,
Hazardous Waste ,
Lead Paint ,
Methamphetamine ,
Mortgages ,
Residential Real Estate Market ,
Risk Management ,
Toxic Mold
The servicer community recently scored an important victory in an opinion issued by the en banc Washington Supreme Court. The decision — Brown v. Wash. State Dep’t. of Commerce, — clarifies the scope of the small lender...more
After a long stretch of inactivity in the default space, the New York Court of Appeals recently returned to the subject with an opinion addressing its expectations regarding affidavits used by parties seeking deficiency...more
Attacking sufficiency, accuracy, or validity of assignments of mortgages and deeds of trust has been among the most common strategies employed by borrowers to challenge foreclosures. Allegations regarding the status of MERS,...more
Two new en banc opinions from the Supreme Court of Missouri, both released on August 19, 2014, may be of interest to mortgage loan servicers with borrowers in this state. The opinions — Conway v. CitiMortgage, Inc., ---...more
On August 16, 2013, Judge Jed S. Rakoff of the Southern District of New York issued a ruling in in United States v. Countrywide Financial Corp., No. 12 Civ. 1422, that will likely be relevant to any financial institution...more
In January 2013, the Consumer Financial Protection Bureau (CFPB) issued a series of new rules affecting the mortgage industry. These rules touch upon a wide variety of areas, including originations, appraisals, and servicing....more