Lender’s credit bid of entire debt at foreclosure sale results in forfeiture of rights to additional collateral *

USA - February 8 2013
The Sixth Circuit Court of Appeals recently affirmed the decisions of the courts below and held in an unpublished opinion that a secured lender's…

Co-authors: John T. Gregg.

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Recent CFPB mortgage rules to absorb and implement *

USA - January 30 2013
January 2013 was a very busy month for the Consumer Financial Protection Bureau in promulgating rules relating to consumer mortgage lending. The CFPB…

Co-authors: Lynne M. McMahan, Thomas M. Maxwell, Edward A. Keirn, Curt W. Hidde, David P. Hooper.

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Finance, insolvency & restructuring alert - more legal maneuvering over the scope and applicability of Michigan’s “one action” rule governing mortgage foreclosures by advertisement *

USA - December 11 2012
In order to commence and complete in Michigan a foreclosure of a mortgage by advertisement, there must not have been instituted “an action or proceeding.

Co-authors: John T. Gregg.

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Finance, insolvency & restructuring alert - Michigan Court of Appeals confirms power of receiver to sell real property free and clear of redemption rights *

USA - November 16 2012
In a previous Alert that we published in July 2012 entitled “Michigan Court Authorizes Receiver Sale of Real Property Free and Clear of Redemption Rights,” we reported on a decision of a Michigan trial court in Ottawa County, Michigan permitting a state-court receiver to sell real property free and clear of a mortgagor’s redemption rights.

Co-authors: John T. Gregg.

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District court reverses and holds that “correct” name, not “legal” name, required on UCC-1 financing statement *

USA - October 31 2012
In a fairly controversial decision from January 2012, the United States Bankruptcy Court for the Central District of Illinois held that a financing statement must contain the “legal” name of an individual as it appears on the individual’s birth certificate.

Co-authors: Deborah L. Thorne, John T. Gregg.

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