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Appellate Courts › Lenders

Hinshaw & Culbertson - Consumer Crossroads

Recent Cases Offer Instruction for Lenders on Avoiding FAPA Estoppel in Foreclosure or Quiet Title Actions in New York

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Under the Foreclosure Abuse Prevention Act (“FAPA”), effective as of December 30, 2022, a lender in a New York foreclosure or quiet title action can be estopped from asserting that the subject mortgage loan was not validly...more

Adams & Reese

Florida Appeals Court Reverses Mortgage Foreclosure for Lack of Specific Findings

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A Florida Appeals court ruled that specific findings are required in mortgage foreclosure summary judgments – generic orders are not sufficient. Lenders and foreclosure attorneys must provide detailed, record-based...more

Freiberger Haber LLP

The Second Department Holds That Lender Cannot Use CPLR 3215(c) to Avoid Dismissal of Foreclosure Action Despite Death of Borrower

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Today’s article relates to a decision in a mortgage foreclosure action that combines numerous concepts about which we have previously written....more

Orrick, Herrington & Sutcliffe LLP

Eleventh Circuit affirms lower court FCRA decision

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On May 5, the U.S. Court of Appeals for the Eleventh Circuit dismissed in part an individual plaintiff’s appeal and otherwise affirmed the district court. The plaintiff had alleged that the defendant violated the FCRA by...more

A&O Shearman

Two Appellate Courts Weigh “Uptier” Transactions Under New York Law

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On December 31, 2024, the United States Court of Appeals for the Fifth Circuit and the New York Appellate Division, First Department, both issued decisions evaluating the validity of so-called “uptier” transactions under New...more

Lowenstein Sandler LLP

Fifth Circuit Rejects Non-Pro Rata Uptier Transaction From Serta Simmons; Landmark Ruling May Have Chilling Effect on Similar...

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On December 31, a unanimous three-judge panel of the U.S. Court of Appeals for the Fifth Circuit (the Court or the Fifth Circuit) held that the controversial $200 million Serta Simmons Bedding (SSB) uptier financing...more

Proskauer Rose LLP

The End of Non-Pro Rata Uptiers? Fifth Circuit Rules that Serta Exchange was Not an “Open Market Purchase”

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The United States Court of Appeals for the Fifth Circuit (the “Fifth Circuit”) ruled on December 31, 2024 that Serta Simmons Bedding’s (“SSB”) 2020 uptier exchange included a transaction that, contrary to the assertions of...more

Adams & Reese

Lenders: Keep Your Original Promissory Notes Safe; Loan Purchaser Fails to Recover on Note Claims in Florida Decision

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A recent opinion out of the Florida Fifth District Court of Appeal makes clear that the failure of a lender or its successor in interest to introduce and authenticate original promissory notes at trial may result in the...more

Goodwin

Awaiting Appellate Precedent on Whether Recent New York Foreclosure Limits Are Constitutional

Goodwin on

​​​​​​​Over a year after becoming law, New York’s Foreclosure Abuse Prevention Act, L. 2022, ch. 821 (eff. Dec. 30, 2022) (FAPA) continues to divide trial courts regarding the constitutionality of the law’s retroactive...more

King & Spalding

New York Appellate Court Keeps Power Plant Lawsuit Against Lenders Alive

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On July 13, 2023, a New York intermediate appellate court held that Iberdrola could continue pursuing all but one of its claims against a bevy of lenders in connection with a construction contract for a power plant in...more

King & Spalding

Georgia Appellate Court Rejects All Fee Non-Disclosure Claims Against Multifamily Lender

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On February 21, 2023, the Georgia Court of Appeals awarded multifamily real estate lender ORIX USA (and its affiliates) a complete victory in a decision affirming in part and reversing in part a summary judgment ruling...more

Procopio, Cory, Hargreaves & Savitch LLP

California Appellate Court Invalidates the Ability to Obtain Default Interest on Loans That Have Not Matured

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When a late fee is assessed upon the entire principal balance of the loan, is it invalid when the loan is not fully matured? This question, so important to lenders, has been addressed in California after the conclusion of...more

King & Spalding

Washington Appellate Court Holds that Doctrine of “Account Stated” Precludes Claims Against Lender

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On February 23, 2022, the Washington Court of Appeals applied the doctrine of “account stated” to shield a lender from liability. South Sound RV Park obtained financing from Niwara to purchase a recreational vehicle park....more

Moritt Hock & Hamroff LLP

New York Appellate Court Puts Huge Road Block In Way Of Borrowers Seeking To Enjoin UCC Article 9 Sales

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Over the last year, since the onslaught of the COVID-19 pandemic, we have continued to report on how the courts have handled efforts by lenders to address pandemic-related defaults, including by means of Uniform Commercial...more

Bradley Arant Boult Cummings LLP

A Good Day for Lenders: Texas Supreme Court Rules that Lenders Still Entitled to Equitable Subrogation for Non-compliant Home...

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On April 24, 2020, the Texas Supreme Court upheld a lender’s right to equitable subrogation for non-compliant home equity loans, ruling that lenders who fail to cure within the statutorily mandated 60-day period may recoup...more

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