News & Analysis as of

Mortgage Servicers Mortgages Breach of Contract

Orrick, Herrington & Sutcliffe LLP

District court grants summary judgment to mortgage servicer in payoff statement fee case

On August 22, the U.S. District Court for the Western District of Washington granted summary judgment in favor of a defendant mortgage servicer in a class action lawsuit challenging fees charged for expedited delivery of...more

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

King & Spalding

SDNY Finds Master Servicer and Sub-Servicer Could be Liable for Uncollected Mortgage Payments

King & Spalding on

On March 31, 2023, the U.S. District Court for the Southern District of New York partially dismissed a complaint against a master servicer and a sub-servicer under a Pooling and Service Agreement (“PSA”) in connection with an...more

Carlton Fields

Real Property & Title Insurance Update: Week Ending May 19 & 26, 2017

Carlton Fields on

Real Property Update - Foreclosure/Standing/Lost Note: if plaintiff did not have right to enforce note when lost, plaintiff should present evidence of assignment from payee to plaintiff or affidavit of ownership - ...more

Orrick, Herrington & Sutcliffe LLP

Second Circuit Rules That Judges Can Decertify a Class After a Jury Verdict

The Second Circuit recently held that under Federal Rule of Civil Procedure 23, a district court judge can decertify a class after a jury verdict in favor of the class but before entering judgment, upholding a Southern...more

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