News & Analysis as of

Insurance Industry Borrowers Mortgages

Orrick, Herrington & Sutcliffe LLP

Colorado enacts insurance proceeds disbursement requirements for mortgage servicers

On May 20, Colorado enacted HB24-1011 (the “Act”), which predominantly addressed mortgage servicers’ disbursement of insurance proceeds. The Act states that, upon the borrower’s request, mortgage servicers must disclose the...more

Bradley Arant Boult Cummings LLP

Seventh Circuit Requires Proof in FCA Suits That False Statement in Mortgage Insurance Application Caused Subsequent Default

In its June 14, 2023, decision in United States ex rel. Michelle Calderon v. Carrington Mortgage Services, LLC, No. 22-1553, 2023 WL 3991013, (7th Cir. 2023), the Seventh Circuit explained the high bar for relators to prove...more

Goodwin

SEC Releases 2021 Examination Priorities

Goodwin on

In this Issue. The U.S. Securities and Exchange Commission (SEC) Division of Examinations released its 2021 Examination Priorities and issued a risk alert noting that “Digital Asset Securities” entail characteristics and...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending August 21, 2020

Carlton Fields on

Real Property Update - Foreclosure Sale / Challenge: borrower failed to meet his burden of establishing that gross inadequacy of foreclosure bid price resulted from "mistake, fraud or other irregularity" in the sale -...more

ArentFox Schiff

DC Council Expands COVID-19 Relief for Borrowers and Tenants

ArentFox Schiff on

As we noted previously, on April 7, 2020, the Council of the District of Columbia (the “Council”) unanimously passed the COVID-19 Response Supplemental Emergency Amendment Act of 2020 (the “COVID-19 Supplemental Act”). This...more

Maynard Nexsen

Is your Motor Vehicle Loan Safe? Part 2: North Carolina

Maynard Nexsen on

This article is a follow up to Bruce Wallace’s April 13, 2017 update, "Is your Motor Vehicle Loan Safe?" regarding how insurance policies may not protect the credit union’s lien. Specifically, Mr. Wallace’s update dealt with...more

Carlton Fields

Real Property, Financial Services & Title Insurance Update: Week Ending October 23, 2015

Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Documentary Stamp Tax: deferred interest on a “pick-a-payment” mortgage did not amount to future advance, which would have required payment of documentary stamp tax - Steinberg v. Wells...more

Troutman Pepper

Summary of HUD's LEAN 232 Program Email Blast Office of Residential Care Facilities (ORCF) August 28, 2015

Troutman Pepper on

The August 28, 2015 LEAN Email Blast contains information on the final rule regarding fire safety equipment, the new delegated underwriter approval process, the Green Lane, and the mortgage termination process, among other...more

Robinson+Cole Class Actions Insider

Filed Rate Doctrine Addressed in Recent Second Circuit Decision

The filed rate doctrine can often provide a strong defense to an insurer in a class action claiming that insurance premiums were too high for some reason. A recent Second Circuit decision applied the doctrine broadly. This...more

Carlton Fields

Real Property, Financial Services & Title Insurance Update: Weeks Ending July 31 & August 7, 2015

Carlton Fields on

Foreclosure: non-borrower owner of real property as tenants-in-common with borrower not required to sign mortgage for borrower to encumber only his interest in the property and non-borrower’s signature on mortgage reflected...more

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