News & Analysis as of

Statute of Limitations › Mortgages › Financial Services Industry

Statute of Limitations refers to a statute that sets the time period during which a legal claim can be brought. Most statute of limitations laws require individuals to sue at some point during a set period... more +
Statute of Limitations refers to a statute that sets the time period during which a legal claim can be brought. Most statute of limitations laws require individuals to sue at some point during a set period usually commencing from the date of the wrong or injury or the discovery of the wrong or injury. Except for under a limited set of circumstances, if an individual does not file a suit within the specified time period, the law bars them from ever suing on that claim. less -
Cadwalader, Wickersham & Taft LLP

Stay Just a Little Bit Longer: Not Jackson Browne but the Statute of Limitations

Cadwalader, Wickersham & Taft LLP on

The Second Department recently held  in Trento 67, LLC v. OneWest Bank, N.A., et. al  that the FHA COVID-19 moratorium constituted a stay of foreclosures for federally-backed mortgages, and thus tolled the statute of...more

Goodwin

New York Courts Split on the Constitutionality of the Foreclosure Abuse Prevention Act

Goodwin on

In the six months since New York’s governor signed the Foreclosure Abuse Prevention Act, L. 2022, ch. 821 (eff. Dec. 30, 2022) (FAPA), a split has emerged about whether the law applies retroactively....more

Bilzin Sumberg

Revival of Time-Barred Zombie Mortgages May Come Back to Haunt Debt Collectors

Bilzin Sumberg on

Last month, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion on the attempted enforcement of time-barred alleged debt collection rights as to second mortgage loans. It is a violation of the Fair Debt...more

Orrick, Herrington & Sutcliffe LLP

NY restricts lenders’ ability to reset statute of limitations on foreclosures

Orrick, Herrington & Sutcliffe LLP on

In December, the New York governor signed A 7737-B, the “Foreclosure Abuse Prevention Act,” which amends the rights of parties in foreclosure actions....more

Bilzin Sumberg

Rulings on Standing and Statute of Limitations Deliver Huge Blow to RMBS Investors

Bilzin Sumberg on

Last week, the U.S. District Court for the Southern District of New York dealt a major blow to mortgage investors in two parallel actions pending for the past few years. The impact proved to be fatal to one of the actions,...more

Hinshaw & Culbertson - Consumer Crossroads

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

Hinshaw & Culbertson - Consumer Crossroads on

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

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending July 31 , 2020

Carlton Fields on

Real Property Update - Foreclosure / Surviving Lien: Lender’s lien on mobile home survived foreclosure sale of property where mobile home was located; mobile home remained personal property outside scope of foreclosure –...more

Seyfarth Shaw LLP

Oregon Law Limits Lender Enforcement Actions Against Borrowers

Seyfarth Shaw LLP on

Oregon’s House Bill 4204 (the “Statute”) was signed into law on July 7, 2020, by Governor Kate Brown. The Statute imposes certain limitations on a lender’s right to undertake enforcement action against a borrower on loans...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending March 20, 2020

Carlton Fields on

Real Property Update - Foreclosure / Surplus: Purchaser of real property per an agreement for deed was not the record owner and could not claim foreclosure sale surplus – Corey v. Neuffer, No. 2D19-1083 (Fla. 2d DCA Mar....more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending February 7, 2020

Carlton Fields on

Real Property Update - Fraudulent Transfer: Real property that was worth less than mortgage encumbering it was not an asset per the plain language of section 726.102(2) and, therefore, could not support fraudulent transfer...more

Carlton Fields

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

Carlton Fields on

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

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending October 18, 2019

Carlton Fields on

Real Property Update - Foreclosure / Statute of Limitations: default notice pursuant to paragraph 22 of subject mortgage may include amounts accrued outside five-year statute of limitations – U.S. Bank, Nat’l Ass’n v....more

Carlton Fields

Third Circuit Holds That Statute of Limitations Was Not Extended for Class Action Lawsuit

Carlton Fields on

In 2005 and 2006, Christopher Blake and James Orkis took out mortgages from JP Morgan to buy homes. Then in 2013, they filed a class action against JP Morgan under the Real Estate Settlement and Procedures Act (RESPA),...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending July 19, 2019

Carlton Fields on

Real Property Update - Foreclosure / Condo Assessments: under section 718.116(1)(a), Florida Statutes, present condo owner is jointly and severally liable with the previous owner for unpaid assessments and related expenses...more

Carlton Fields

Real Property & Financial Services Update: Week Ending July 5, 2019

Carlton Fields on

Real Property Update- Landlord-Tenant: rider to a lease, containing clear and unambiguous language, controlled over the terms in the lease and limited the increase in the operating expenses charged to the tenant by the...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending June 28, 2019

Carlton Fields on

Real Property Update - Foreclosure / Res Judicata: res judicata did not apply where later foreclosure action was based on different period of default than the prior action on same loan - Bullock v. Bayview Loan Servicing,...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending June 21, 2019

Carlton Fields on

Real Property Update - Mortgagee Liability: because section 701.04(1)(a), Florida Statutes, requires that the holder of a mortgage deliver to the mortgagor a written estoppel letter setting forth the unpaid balance of the...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending May 17, 2019

Carlton Fields on

Real Property Update - Sanctions / Dismissal: trial court abused discretion in dismissing bank’s foreclosure action; record established bank complied with discovery orders on which the motion for dismissal/sanctions was...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending May 10, 2019

Carlton Fields on

Real Property Update - Ad Valorem Taxes: in a matter of first impression, county's immunity from taxation does not extend extraterritorially to property it owns in another Florida county - Joiner v. Pinellas Cnty., Fla.,...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending April 26, 2019

Carlton Fields on

Real Property Update - • Foreclosure / Reverse Mortgage / Condition Precedent: bank failed to establish that the subject property was not the principal residence of surviving co-borrower under its reverse mortgage, a...more

Carlton Fields

Real Property & Title Insurance Update: Week Ending March 29, 2019

Carlton Fields on

Real Property Update - Foreclosure / Attorneys' Fees: borrower not entitled to attorneys' fees for prevailing on lender's claim for reformation of mortgage, where lender prevailed on claim of foreclosure without...more

Carlton Fields

Financial Services & Title Insurance Update: Week Ending March 22, 2019

Carlton Fields on

Financial Services Update - FDCPA / definition of "debt collector": law firm carrying out a nonjudicial foreclosure action not a debt collector because the primary definition of a "debt collector" under sec. 1692a does not...more

Carlton Fields

Real Property & Financial Services Update: Week Ending March 15, 2019

Carlton Fields on

Real Property Update- Deed Restriction / MRTA: Marketable Records Title to Real Property Act extinguished association's restrictions where restrictions were more than thirty years old, predating lot owner's root of title,...more

Carlton Fields

Real Property & Title Insurance Update: Week Ending February 1, 2019

Carlton Fields on

Real Property Update - Foreclosure / Surplus Funds: sections 45.032 and 45.033, Florida Statutes, create a rebuttable presumption that the owner of record of real property on the date of the filing of a lis pendens is...more

Bilzin Sumberg

New Second Circuit Statute of Limitations Ruling A Benefit to Loan Originators, Brokers

Bilzin Sumberg on

As originators and brokers of mortgage loans continue to get served with new lawsuits (or threatened with potential suits) related to loans that they conveyed to aggregators prior to the financial crisis of 2008, questions...more

40 Results
 / 
View per page
Page: of 2
Next »

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide