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Results: 1-10 of 31

The Helping Families Save their Homes Act of 2009 significantly changes the TARP, PPIP and TALF programs and FDIC insurance

  • Jones Day
  • -
  • USA
  • -
  • May 31 2009

On May 19, the U.S. Congress overwhelmingly approved the Helping Families Save their Homes Act of 2009 (the "Act"), which amends the Hope for Homeowners Program and contains various provisions related to home loan foreclosures and modifications

Fifth Circuit denies class certification of kickback claims under RESPA

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • USA
  • -
  • December 22 2009

In Mims v. Stewart Title Guaranty Co., 2009 WL 4642631 (5th Cir. Dec. 9, 2009), the United States Court of Appeals for the Fifth Circuit considered whether plaintiffs can bring class claims under Section 8(b) of the Real Estate Settlement Procedures Act of 1974 (“RESPA”), codified in relevant part at 12 U.S.C. 2607(c), where a service provider’s fee “bears no relationship” to the service provided

The creditor's rights endorsement: what its extinction means for owners and lenders

  • Dinsmore & Shohl LLP
  • -
  • USA
  • -
  • April 8 2010

Lenders and property owners relying on the creditor's rights endorsement to their policy of title insurance will quickly learn, if they have not already, that this endorsement has become widely unavailable

Use of credit-scoring factors in the pricing of homeowner's insurance under the FHA and the McCarran-Ferguson Act

  • Barger & Wolen LLP
  • -
  • USA
  • -
  • April 14 2010

In a putative class action, Ojo v. Farmers Group, Inc., et al., Case No. 06-55522 (9th Cir. April 9, 2010), an en banc panel of the Ninth Circuit Court of Appeals decided a case where the Plaintiff alleged that the use of credit-scoring factors in the pricing of homeowner's insurance in Texas had a disparate impact on minorities in violation of the federal Fair Housing Act ("FHA"), 42 U.S.C. sections 3601-19

Allowing non-parties to invoke the usury doctrine to defeat foreclosure

  • Pillsbury Winthrop Shaw Pittman LLP
  • -
  • USA
  • -
  • May 19 2010

In the aftermath of the era of subprime mortgage lending and so-called "Mom and Pop" lenders trying to take advantage of wildly inflated California real estate values, we have seen recurrent issues arise with respect to junior lien foreclosures that have created significant problems of lien priority for mortgage lenders and their title insurers

Farewell to the ALTA creditors' rights endorsement form

  • Pillsbury Winthrop Shaw Pittman LLP
  • -
  • USA
  • -
  • May 19 2010

Real estate lenders and owners who ask for an American Land Title Association (ALTA) 21-06 Creditors' Rights Endorsement to a title insurance policy should be prepared for rejection

BankAtlantic verdict voided

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • May 10 2011

We previously reported on the jury verdict against BankAtlantic in the matter of In re BankAtlantic Bancorp, Inc. Securities Litigation, S.D.Fla. Docket No. 07-cv-61542-UU

Update on reorganization financing

  • Schulte Roth & Zabel LLP
  • -
  • USA
  • -
  • April 7 2011

Reorganization or debtor-in-possession ("DIP") financing has become an increasing source of litigation

Lenders taking title by foreclosure or deed in lieu: the advantages of obtaining an owner’s title insurance policy

  • Poyner Spruill LLP
  • -
  • USA
  • -
  • April 13 2011

Lenders who make loans secured by real estate routinely obtain a loan title insurance policy insuring their lien position

CFPB announces mortgage servicing rules project

  • Ballard Spahr LLP
  • -
  • USA
  • -
  • April 10 2012

The CFPB has announced that it is working on a mortgage servicing rules proposal that it plans to issue this summer and adopt by January 21, 2013, with an implementation date still under consideration