An assignee’s bona fide purchaser status may not save it from losing its right to enforce a security agreement. In First Mortgage Co., LLC v. Dina, 2-13-0567 (1st Dist. Ill. App. Ct. Mar. 31, 2014), the mortgagors appealed a mortgage foreclosure judgment arguing that the loan originator was not a…
Read More »The Plaintiff in McFarland v. JP Morgan Chase Bank, EDCV 13-01838-JGB, (C.D. Cal. Apr. 28, 2014) brought suit under the California Homeowner’s Bill of Rights, (CHBR) against her mortgagee and loan servicer. Plaintiff alleged that after she fell into default she made a loan modification deal but after three years…
Read More »In another CHBR case, Bingham v. Ocwen Loan Servicing, LLC, 13-CV-04040-LHK, (N.D. Cal. Apr. 16, 2014) a Northern District of California court held that even where the facts in the complaint showed that relief under the CHBR is unavailable, dismissal was not warranted because there were still equitable considerations to…
Read More »In JPMorgan Chase Bank, N.A. v. First Am. Title Ins. Co., 12-2094 (6th Cir. Apr. 24, 2014), one of First American’s agents issued a title policy and a closing protection letter (CPL) to Washington Mutual Bank (WaMu) on a $4 million dollar loan. In the CPL, First American agreed to…
Read More »In EnTitle Ins. Co. v. Darwin Select Ins. Co., 13-3269 (6th Cir. Jan. 29, 2014) the Sixth Circuit Court of Appeals affirmed summary judgment for a professional liability (E&O) insurer sued by a title insurer which had reimbursed its agents customers that were victimized by the agent’s fraud. The title…
Read More »Feaz v. Wells Fargo Bank, N.A., 13-10230 (11th Cir. Feb. 2014) involves contract interpretation arising from the interplay of two federal statutes. One is the National Housing Act (NHA), 12 U.S.C. § 1701, which is intended to promote home ownership; the other is the National Flood Insurance Act (NFIA), 42…
Read More »In Gibbs v. Blitt and Gaines, 2014 Ill.1st 123681 (February 11, 2014), the debtor on behalf of a class sued the defendant law firm under the FDPCA. Relying on an earlier appellate decision, _LVNV Funding, LLC v. Trice_, 952 N.E.2d 1232 (2011), which held that a judgment obtained by an…
Read More »There two issue of significance in Clark v. Main Street Acquisition Corp. 13-3763 (6th Cir. Jan. 27, 2014). The first is whether the debt collector violated the FDCPA by filing false affidavits seeking court costs in addition to the amount owed. Debtor argued that the inclusion of the word costs…
Read More »In Pembrook Condominium Association-One v. North Shore Trust & Savings, 2013 IL App (2d) 130288 the mortgage holder of a unit filed a foreclosure joining the condominium association as a party for unpaid assessment liens. The mortgagee was the purchaser at the foreclosure sale and paid the assessments that accrued…
Read More »The issue addressed in In re: Todd Lamont and Christina Lamont, No. 13-1187 (7th Cir. Jan. 7, 2014) is how a tax sale purchaser’s interest should be treated in a bankruptcy commenced after the tax sale of the property, but before the period to redeem the taxes had expired. The…
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