News & Analysis as of

Florida Banking Sector

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

Shumaker, Loop & Kendrick, LLP

Client Alert: Financial Institutions Have New Responsibilities in the New Year

Florida Senate Bill 556, passed in May of 2024 and set to go into effect on January 1, 2025, establishes the new Florida Statute § 415.10341, which is intended to better protect “specified adults” from financial exploitation....more

Sheppard Mullin Richter & Hampton LLP

Florida Expands its “De-Banking” Law

Florida is one of several states that has enacted “de-banking” legislation that requires financial institutions to provide consumers with fair access to financial products and services. On May 3, Governor DeSantis signed into...more

Bradley Arant Boult Cummings LLP

The Case For Overturning Florida Foreclosure Ruling

In an opinion written in under 1,000 words, Florida's Fourth District Court of Appeal put foreclosure cases across Florida in jeopardy in Desbrunes v. U.S. Bank National Association in February. Originally published in...more

Sheppard Mullin Richter & Hampton LLP

Florida Introduces “True Lender” Legislation

On October 9, Florida introduced SB 146, which amends the Florida Consumer Finance Act (CFA), and joins other states that have passed laws characterizing certain nonbanks as the “true lender” of loans made through a bank...more

Console and Associates, P.C.

Over 36k Customers of City National Bank of Florida Affected by MOVEit Data Breach

On June 30, 2023, City National Bank of Florida (“CNBF”) filed a notice of data breach with the Attorney General of Maine, explaining that 36,306 of the bank’s customers were affected by a data breach involving software...more

Baker Donelson

Florida Update – No Standing, No Fees is Dead: Borrowers Can Recover Fees When They Prevail on a Standing Defense

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In an opinion issued on December 31, 2020, the Florida Supreme Court resolved a certified conflict between several of the Florida appellate courts as to whether borrowers who prevail on an argument that the lender lacked...more

Burr & Forman

Florida Supreme Court Accepts Jurisdiction in Glass on Fee Issue in Foreclosures

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On February 13, 2018, the Florida Supreme Court accepted jurisdiction in an appeal emanating from a hot button issue in contested foreclosures – can the borrower in a foreclosure secure an award of contractual attorney’s fees...more

Carlton Fields

The New 2016 ALTA Commitment with Florida Modifications: Expressing the Limitations on Liability

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A significant change to one of the standard title insurance forms recently took effect. The new 2016 ALTA Commitment with Florida Modifications both streamlines the existing features of the title insurance commitment and, for...more

Ballard Spahr LLP

Florida Lawmakers Seek to Bring Virtual Currency into the Fold

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On Monday, the state of Florida moved a step closer towards amending its money laundering statute to include the nefarious use of bitcoin and other virtual currencies. The bill, H.B. 1379, has sailed through a committee vote...more

Shutts & Bowen LLP

Everything You Need To Know About Florida Deficiency Judgments – Part II

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A foreclosure judgment, followed by sale of the mortgaged property, doesn’t necessarily end a foreclosure case. If the sale proceeds don’t fully pay the debt, the next step is a money judgment against the borrower for the...more

Lowndes

Appellate Court Restores Lis Pendens Protections in Do-Ober Decision

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The tides have turned in Ober v. Town of Lauderdale-By-The-Sea as the Fourth District Court of Appeal recently reversed its decision and revived the full impact of Florida’s lis pendens statute. By withdrawing and replacing...more

Carlton Fields

Real Property & Title Insurance Update: Week Ending January 27, 2017

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REAL PROPERTY UPDATE - Foreclosure/Lis Pendens: a proper reading of Florida Statute section 48.23(1)(d) is that “when a foreclosure action is prosecuted to a judicial sale, that sale discharges all liens, whether...more

Shutts & Bowen LLP

New court decision affects Florida foreclosures

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Until late 2016, Florida appellate courts had not considered what happens to liens placed on property between a foreclosure final judgment and a foreclosure sale. However, an August 24, 2016 opinion issued by the Fourth DCA...more

Burr & Forman

Fourth District Court of Appeal Breathes Life Back into Lis Pendens Statute

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Florida’s Fourth District Court of Appeal breathed life back into the lis pendens statute by reversing course in Ober v. Town of Lauderdale-By-the-Sea. On a motion for rehearing, the Court withdrew and replaced its August 24,...more

Carlton Fields

Real Property & Title Insurance Update: Week Ending January 6, 2017

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REAL PROPERTY UPDATE - Foreclosure – Involuntary Dismissal: although lender’s witnesses failed to explain lender’s loan payment history statement, the statement reflected the principal amount due and had been admitted...more

Shutts & Bowen LLP

Everything You Need To Know About Florida Deficiency Judgments – Part I

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A mortgage judgment in Florida does two things – it sets the amount owed to the lender, and it orders the sale of the mortgaged property and applies the proceeds to pay down the debt. Where the sale proceeds are insufficient...more

Robins Kaplan LLP

Auditor Liability: The Case against PwC

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At least as far back as the Enron scandal and subsequent enactment of Sarbanes-Oxley, accountants and auditors have been viewed as uniquely positioned to serve a crucial watchdog role. Among their many functions, they...more

Carlton Fields

Resolving Shopping Center Foreclosures in Florida - Considerations for Lenders

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Shopping centers in Florida—and across the country—are increasingly facing financial stress due to factors such as Internet commerce and rent pressures. Rents generated from a shopping center are usually pledged as...more

Carlton Fields

Surrendering Your Property in Bankruptcy Means You Must Actually Surrender It

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The title of this article seems self-evident. Lenders, servicers, and others active in the foreclosure arena these past few years know that it has been anything but. Borrowers surrender property in bankruptcy but,...more

Lowndes

Surviving the Zombie [Foreclosure] Apocalypse

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Preparing For A World When Lis Pendens Protections Are All But Ober - “BEWARE REAL PROPERTY LITIGATORS” warns a former chair of the Real Property, Probate and Trust Law Section of the Florida Bar. This advice, given...more

Ballard Spahr LLP

Liens Recorded Between Foreclosure, Sale Date Ruled Valid by Florida Appellate Court

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In a case of first impression among the Florida appellate courts, the Fourth District Court of Appeal held that liens recorded between the foreclosure judgment and the sale date are valid and enforceable against the property...more

Ballard Spahr LLP

DNC Chair supporting bill to curb CFPB payday loan rulemaking authority

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To the dismay of many consumer advocates, it has been reported that Democratic National Committee Chairwoman and Florida Congresswoman Deborah Wasserman Schultz is supporting a bill (H.R. 4018) that would limit the authority...more

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