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Contract Terms › Borrowers › Mortgage Lenders

Stark & Stark

A Day Late and a Dollar Short: A Mortgagee’s Obligations and Best Practices Upon Receipt of Short Loan Payoff Funds

Stark & Stark on

In the ever-evolving world of mortgage lending, a scenario often arises where a borrower refinances their existing mortgage with a new lender, but the payoff funds tendered by the new lender are less than the full amount...more

Cadwalader, Wickersham & Taft LLP

Ex Parte Appointment of a Receiver Confirmed

Cadwalader, Wickersham & Taft LLP on

The New York County Supreme Court recently held that in the event of foreclosure, a receiver can be appointed, regardless of necessity, when the parties have contracted for such appointment. 24 West 57 APF LLC (“Defendant”)...more

Patton Sullivan Brodehl LLP

Not All Deed of Trust Attorney Fee Clauses are Created Equal

Patton Sullivan Brodehl LLP on

Lenders who prevail on claims arising from a deed of trust can always recover their attorney fees from the losing party as long as the deed of trust says something about fee recovery, right? It’s not that simple....more

Bradley Arant Boult Cummings LLP

Eleventh Circuit Rules Reverse Mortgage Companies Not Prohibited from Foreclosing on Non-Borrowing Spouses

Bradley Arant Boult Cummings LLP on

Mortgagees of Home Equity Conversion Mortgages (“HECMs,” more commonly known as reverse mortgages) obtained a significant victory in an important federal appellate court, which ruled last month that non-borrowing spouses are...more

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