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Troutman Sanders LLP: VA Supreme Court Rules Face-to-Face Interview Required Before Foreclosure

By David N. Anthony , John C. Lynch , Ethan G. Ostroff and Maryia Y. Jones On April 20, 2012, in a surprising decision, the Supreme Court of Virginia revived borrowers' claims against defendant loan holder and servicer, concluding that the borrowers' non-payment under a home loan did not constitute...

Ballard Spahr LLP: Lender’s Oral Promise to Postpone Foreclosure Unenforceable, Eighth Circuit Holds

By the Consumer Financial Services Group A lender's oral promise to postpone a foreclosure sale of a borrower's home is a "credit agreement" that must be in writing to be enforceable under the Minnesota Credit Agreement Statute (MCA), the U.S. Court of Appeals for the Eighth Circuit...

Vetstein Law Group: Averting The Apocalypse: Foreclosing Lenders Avoid Disaster and Given More Options To Foreclose In Eaton v. Fannie Mae Case

By Richard D. Vetstein, ESQ Score One For Lenders and Mortgage Servicers In Long-Awaited Eaton v. Fannie Mae Case The Massachusetts real estate community has been waiting 8 long months for a decision from the Massachusetts Supreme Judicial Court (SJC) in the much anticipated Eaton v. Federal National...

BuckleySandler LLP: Oregon Supreme Court Agrees to Address Electronic Mortgage Registry's Role as Beneficiary; Two California Appellate Courts Affirm Electronic Registry's Beneficiary Role

Excerpted from Infobytes , a weekly electronic newsletter on developments in financial services law from BuckleySandler LLP . For the full issue of Infobytes , click here: http://www.buckleysandler.com/infobyte-detail/infobytes-july-27-2012 On July 19, the Oregon Supreme Court accepted certified...

Ballard Spahr LLP: California’s Residential Foreclosure Overhaul Signed Into Law

By Alan S. Petlak On July 11, 2012, California Governor Jerry Brown signed an overhaul to California's foreclosure laws to come into effect on January 1, 2013. The stated purpose of the new legislation is to ensure that, as part of the non-judicial foreclosure process, borrowers are considered...

Ballard Spahr LLP: Borrowers Must Bring Claims for Unfair Mortgage Lending Practices during Foreclosure Proceeding, N.J. Court Rules

By the Consumer Financial Services and Mortgage Banking Groups Under New Jersey's "Entire Controversy Doctrine," borrowers alleging unfair mortgage lending practices must raise such claims during the foreclosure proceeding itself. In Napoli v. HSBC Mortgage Services, Inc. , the...

10 Mortgage Servicers To Pay $8.5B To Help Foreclosure Victims

WASHINGTON, D.C. - ( Mealey's ) The Federal Reserve Board and Office of the Comptroller of the Currency yesterday announced that 10 mortgage servicing companies that have been subjected to enforcement orders since April 2011 over their foreclosure practices have agreed to pay a total of $8.5 billion...

Vetstein Law Group: Backdated Mortgage Assignment Comes Back To Haunt Foreclosure Lender in Juarez v. Select Portfolio

By Richard D. Vetstein, ESQ Federal Appeals Court Reinstates Borrower's Wrongful Foreclosure Claim Noted Massachusetts foreclosure defense attorney Glenn Russell is on a roll of a lifetime, yesterday [February 12] winning a rare victory on behalf of a borrower at the U.S. Court of Appeals for...

Troutman Sanders LLP: North Carolina Court of Appeals Forestalls Borrower’s Attempt to Collaterally Attack Foreclosure Proceeding

By John C. Lynch and D. Kyle Deak On Plaintiff's appeal of dismissal of his Complaint seeking to challenge the authority of the lender to foreclose, the Court of Appeals affirmed the Superior Court's dismissal and found that Plaintiff's failure to properly and timely appeal the Order of...