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Results: 1-10 of 27

New York federal court upholds jurisdiction over foreclosure of securitized commercial mortgage

  • Bryan Cave LLP
  • -
  • USA
  • -
  • May 23 2012

Given the historically high volume of both residential and commercial foreclosures, lenders in those states that utilize a judicial foreclosure process have often found themselves faced with significant delays

What matters: A review of 2011 and 2012

  • Kramer Levin Naftalis & Frankel LLP
  • -
  • USA
  • -
  • April 1 2013

As you know, the last two years have seen a somewhat improved, but by no means robust, business climate. At the same time, structural shifts in the

Court denies in part motions to dismiss FHFA's claims against countrywide and various underwriters

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • April 2 2013

On March 15, Judge Mariana Pfaelzer of the United States District Court for the Central District of California denied in part motions to dismiss

Single purpose entity provisions in CMBS loans in the wake of Wells Fargo Bank, NA v. Cherryland Mall Ltd. P'ship, et al. (Mich. App. Dec. 27, 2011)

  • Dykema Gossett PLLC
  • -
  • USA
  • -
  • January 26 2012

This alert discusses possible "springing recourse" liability for borrowers and guarantors arising out of last month's decision in Wells Fargo Bank, NA v. Cherryland Mall Ltd. P'ship (Cherryland), decided last month by the Michigan Court of Appeals

Investor files suit against Nationstar over mortgage auctions

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • March 11 2013

On March 7, KIRP, LLC sued Texas-based mortgage servicer Nationstar Mortgage LLC in the Supreme Court of the State of New York in connection with

When non-recourse isn’t really non-recourse at all: the Cherryland decision full recourse enforcement of a non-recourse loan

  • Lowenstein Sandler PC
  • -
  • USA
  • -
  • July 2 2012

The Michigan Court of Appeals recently decided a case that has garnered the attention of lenders, real estate owners, and developers nationwide

Court limits Assured Guaranty’s claims against UBS

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • August 27 2012

On August 15, Judge Harold Baer, Jr. of the federal district court for the Southern District of New York granted in part and denied in part UBS’s motion to dismiss claims asserted by Assured Guaranty Municipal Corporation in connection with three RMBS securitizations insured by Assured Guaranty

Court invalidates foreclosures based on ineffective mortgage assignments

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • March 11 2011

A recent court decision held that a foreclosure in Massachusetts that a clear chain of title must be established to show that the party foreclosing is the valid holder of the mortgage. Although the decision is binding only in Massachusetts, the case illustrates the importance for lenders and securitisation trustees of understanding state foreclosure laws and hold all relevant documents before entering foreclosure proceedings

Bayernische Landesbank files $810 million RMBS suit against Deutsche Bank

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • April 23 2012

On April 19, 2012, Bayerische Landesbank (“Bayern”), a German bank, filed an $810 million suit against Deutsche Bank and certain of its affiliates in New York County Supreme Court

Michigan court holds borrower’s breach of SPE requirement in non-recourse carve-out provision of CMBS loan document results in full recourse liability for borrower and guarantor

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • January 23 2012

The Michigan Court of Appeals recently held that a borrower’s violation of a non-recourse liability carve-out provision, which prohibited the borrower from becoming insolvent, resulted in the loan becoming fully recourse against the borrower

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