News & Analysis as of August 19, 2025

Consumer Financial Products

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Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -

Congress Passes Legislation to Help Protect Veterans from Foreclosure by Reauthorizing Partial Claims with VA Home Loans

Ballard Spahr LLP on 7/17/2025

The U.S. Senate recently passed H.R. 1815, the VA Home Loan Program Reform Act, to reauthorize partial claims with U.S. Department of Veterans Affairs (VA) guaranteed home loans. The U.S. House of Representatives passed the...more

AB 238 Mortgage Deferment Act for California Wildfire: Mortgage Forbearance Relief

Blank Rome LLP on 1/27/2025

AB 238, also referred to as the Mortgage Deferment Act, to add Title 19.1 § 3273.20 et seq. (the “Mortgage Deferment Act” or the “Act”), was introduced in the California legislature on January 13, 2025 to provide essential...more

Led by California MBA, five banks provide mortgage relief for fire victims

Ballard Spahr LLP on 1/23/2025

Led by the California Mortgage Bankers Association, five lenders have made commitments to provide mortgage relief for the victims of the California wildfires....more

Equitable Fairness: Court Denies Lender’s Routine Motion for Summary Judgment In Commercial Foreclosure Action Finding Issues of...

Falcon Rappaport & Berkman LLP on 1/22/2025

In a recent decision, the Supreme Court in Queens County denied lender’s motion for summary judgment and appointment of a referee to compute in a foreclosure action, finding triable issues of fact, underscoring the importance...more

Three Major Differences Between Recourse and Non-Recourse Loans

Mandelbaum Barrett PC on 11/10/2023

Borrower / Guarantor Liability Recourse – The borrower (or guarantor) is personally liable for the full amount of the loan, including any debt remaining after the collateral is foreclosed upon and sold. To satisfy the...more

Real Property, Financial Services, & Title Insurance Update: Week Ending February 7, 2020

Carlton Fields on 2/19/2020

Real Property Update - Fraudulent Transfer: Real property that was worth less than mortgage encumbering it was not an asset per the plain language of section 726.102(2) and, therefore, could not support fraudulent transfer...more

Appellate Court Tells CitiMortgage It Can’t Force “Repurchase” Of What No Longer Exists

Bilzin Sumberg on 11/19/2019

A recent decision by the United States Court of Appeals for the Eighth Circuit offers some vindication for mortgage companies still facing “repurchase” demands made by the banks to which they sold residential mortgages in the...more

Real Property, Financial Services, & Title Insurance Update: Week Ending October 4, 2019

Carlton Fields on 10/31/2019

Real Property Update - Foreclosure / Bankruptcy / Surrender: borrower cannot challenge judgment of foreclosure entered upon judicial notice of his statement of intention to surrender the property and order of discharge...more

Eleventh Circuit Holds that a Guarantor Lacks Standing Under the Equal Credit Opportunity Act

Bilzin Sumberg on 9/20/2019

Late last month, the U.S. Court of Appeals for the Eleventh Circuit held in Regions Bank v. Legal Outsource PA, No. 17-11736, 2019 WL 4051703 (11th Cir. Aug 28, 2019), that a loan guarantor does not qualify as an “applicant”...more

Appellate Court Notes

Pullman & Comley, LLC on 2/9/2015

SC19216 - Sikorsky Financial Credit Union, Inc. v. Butts - Finally some clarity in rules pertaining to the award of post-judgment interest. Here the (consumer) loan agreement provided that interest would accrue at 9%...more

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