On Friday, May 5, 2017, in a major victory for lenders, the North Carolina Supreme Court reversed the North Carolina Court of Appeals's decision in . In July 2015, the Court of Appeals decided in favor of United Community Bank and effectively eliminated the ability of lenders to obtain post-foreclosure deficiency judgments without committing to a full-blown jury trial.
Florida's Third District Court of Appeal issued an opinion yesterday that highlights the perils of de novo review. De novo review is the broadest standard of review for an appellate court, reserved for construing pure matters of law, and is often an appellant's best opportunity for reversal. Foreclosure News
The number of nonbank mortgage lenders and servicers that did not comply with the California Residential Mortgage Lending Act Annual Report requirements grew this year, prompting a reprimand and warning of penalties from the commissioner of the state's Department of Business Oversight. There were 418 licensed lenders and servicers at the end of 2017, but…
Did you move last year? If so, you took part in a declining ritual – just 11 percent of the U.S. population changed residences last year, down from 12 percent in 2013 and 13 percent in 2006. Americans are no longer the footloose strivers of popular imagination. Foreclosure News
The phone call came as Raymond Murray neared the bottom of his luck. His wife had died, his career had been ended by injuries, and struggling to get by on his disability check, he had scraped together just enough to pay a lawyer to avoid imminent foreclosure on his modest Brooklyn home. Foreclosure News
Despite the bumpy ride for the Hermitage Club this winter season, the company's founder is describing it as a successful one as local officials hope for a brighter future. “We are thrilled to have completed a wonderful and safe experience for our members,” Jim Barnes, Hermitage founder, said in a press release announcing “the completion…
McCarthy & Holthus LLP, et al. , and resolve a circuit split on whether the Fair Debt Collection Practices Act applies to non-judicial foreclosure proceedings. Because the Supreme Court's decision in Obduskey will determine whether the FDCPA's protections apply in countless non-judicial foreclosure actions, it could have a significant financial impact on the mortgage industry….
