News & Analysis as of

Standing Mortgages

Cadwalader, Wickersham & Taft LLP

I’m Still Standing – Yeah, Yeah, Yeah: Wilmington Savings Fund Society v. Tamisi

In Wilmington Savings Fund Society v. Tamisi, the U.S. District Court for the Eastern District of New York upheld a bankruptcy court’s ruling that Wilmington lacked the necessary standing to enforce a mortgage lien, thereby...more

Troutman Pepper Locke

Proposed New York FAIR Business Practices Act Aims to Expand Consumer Protections Against Unfair, Deceptive, or Abusive Practices

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On March 13, New York State introduced proposed legislation titled the Fostering Affordability and Integrity Through Reasonable Business Practices Act (FAIR Act). The proposed legislation seeks to broaden the scope of...more

Goodwin

New York’s Highest Court Agrees To Hear Constitutional Challenge to Estoppel Provision of FAPA

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On May 20, 2025, the New York Court of Appeals agreed to hear constitutional challenges to one aspect of New York’s Foreclosure Abuse Prevention Act (FAPA). ...more

Cadwalader, Wickersham & Taft LLP

Firmly Fixated With Allonges - REF News & Views

In a recent decision by the Supreme Court of the State of New York in Kings County (the Court), HSBC Bank USA, N.A. (the Plaintiff) initiated a mortgage foreclosure action against Jack and Sabah Srugo (collectively, the...more

Bradley Arant Boult Cummings LLP

One Domino Falls: Tennessee Supreme Court Reshapes Foreclosure Claims

With its long-awaited opinion in Terry Case v. Wilmington Trust, the Tennessee Supreme Court ushered in a sea change concerning constitutional standing in the state and clarified that Tennessee law does not recognize an...more

Troutman Pepper Locke

Sixth Circuit Affirms Dismissal of FDCPA Claims for Lack of Standing, But for Lack of a Causal Connection

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In a recent decision, the U.S. Court of Appeals for the Sixth Circuit affirmed the dismissal of federal claims brought by a mortgagee against Trinity Financial Services, LLC (Trinity) under the Fair Debt Collection Practices...more

Carr Maloney P.C.

Fourth Circuit Reiterates that Absent Class Members Must Suffer Actual Harm

Carr Maloney P.C. on

On January 23, 2025, the Fourt Circuit, in Alig v. Rocket Mortg., LLC, No. 22-2289, 2025 WL 271563 (4th. Cir. Jan. 23, 2025), reversed the District Court’s decision that a certified class action. In Alig, the plaintiffs filed...more

Bradley Arant Boult Cummings LLP

Tennessee Supreme Court Clarifies Standing Law and Eliminates Wrongful Foreclosure as a Cause of Action in a Big Win for Mortgage...

Bradley scored a significant victory in the Tennessee Supreme Court on November 14, 2024. In a long-awaited decision, the Tennessee Supreme Court clarified a long-standing inconsistency in Tennessee law with its opinion in...more

Hinshaw & Culbertson - Consumer Crossroads

Tips for Loan Servicers on Defending Consumer Claims in Federal Court and Making Successful Article III Standing Challenges

Loan servicers and their counsel are often sued by consumers during contested mortgage foreclosure proceedings. The United States Supreme Court’s opinions in Spokeo, Inc. v. Robins and TransUnion v. Ramirez continue to be an...more

Orrick, Herrington & Sutcliffe LLP

2nd Circuit addresses issue preclusion standard in dismissal of RMBS actions

On April 26, the U.S. Court of Appeals for the Second Circuit upheld the dismissal of three residential mortgage-backed securities lawsuits tied to losses incurred during the 2008 financial crisis. The plaintiffs, issuers of...more

McGlinchey Stafford

Can I recover excess proceeds from a foreclosure sale? - McGlinchey Commercial Law Bulletin - August 2022

McGlinchey Stafford on

Claim to excess funds in foreclosure- In this appeal, the Eighth Appellate District considered who is entitled to excess sale proceeds; another mortgagee (who never appeared or answered in the case) or the borrower? Here,...more

Williams Mullen

RESPA Sec. 8(a): How is an Unnecessarily High Settlement Cost Different from an Overcharge?

Williams Mullen on

In Brasko v. Howard Bank, 2022 WL 951771 (D. Md. Mar. 29, 2022), a district court recently certified a subclass of residential mortgage borrowers who alleged that First Mariner Bank, a predecessor of Howard Bank, violated...more

Cadwalader, Wickersham & Taft LLP

Further Developments in Mezzanine Foreclosures

The New York State Supreme Court, New York County Commercial Division (the “Court”) decided in U.S. Bank, N.A. v. 342 Property LLC, on February 14, 2022, that a mezzanine lender that is not a party to loan documents that...more

Bilzin Sumberg

Rulings on Standing and Statute of Limitations Deliver Huge Blow to RMBS Investors

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Last week, the U.S. District Court for the Southern District of New York dealt a major blow to mortgage investors in two parallel actions pending for the past few years. The impact proved to be fatal to one of the actions,...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending November 19, 2021

Carlton Fields on

Real Property Update - Foreclosure / Reverse Mortgage: Surviving spouse who did not sign the note did not qualify as a “borrower” by signing the mortgage and related documents – OneWest Bank, N.A. v. Leek-Tannenbaum, No....more

Womble Bond Dickinson

Equitable Defense Proves Valuable in FCRA Suit

Womble Bond Dickinson on

The U.S. District Court for the Western District of North Carolina found that the plaintiff was equitably estopped from pursuing a FCRA claim in light of her behavior related to the manner in which she chose to make her...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending April 23, 2021

Carlton Fields on

Real Property Update - Condo / Attorneys’ Fees: Condominium association that lost on counterclaim against developer was prevailing party on significant issues in litigation by prevailing on developer’s claims and was...more

Hinshaw & Culbertson - Consumer Crossroads

New York Appellate Court Reverses Foreclosure Judgement, Reaffirms Business Record Itself Must be Provided to Trigger Hearsay...

In Deutsche Bank Nat'l Trust Co. v. Ezeji, 2021 N.Y. App. Div. LEXIS 3313 (2d Dep't, May 19, 2021), New York's Appellate Division, Second Department, reversed a judgment of foreclosure and sale, finding that although the...more

Hinshaw & Culbertson - Consumer Crossroads

Second Circuit Rules Homeowners Established Article III Standing for Statutory Damages Claim

On May 10, 2021, ruling on an issue of first impression, the U.S. Court of Appeals for the Second Circuit in Maddox v. Bank of New York Mellon Trust affirmed denial of BNY Mellon's motion for judgment on the pleadings,...more

Cadwalader, Wickersham & Taft LLP

Bouncing Back - January 2021 | Issue No. 20, (Don’t) Stand By Me: NY Court of Appeals Judge Unravels Confusion Surrounding...

In a recent concurring opinion, Judge Rowan D. Wilson sifts through and attempts to clear up some confusion in New York case law surrounding the doctrine of standing in foreclosure actions. ...more

Hinshaw & Culbertson - Consumer Crossroads

New York Court of Appeals Finds There is "No Checklist" to Prove Standing to Foreclose, While Leaving Newly-Enacted RPAPL 1302-a...

The New York Court of Appeals issued two important end-of-the-year decisions on December 17, 2020 in a heavily litigated, affirmative defense in residential mortgage foreclosure actions: the lack of standing to foreclose. In...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending December 18, 2020

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Real Property Update - Foreclosure / Subrogation: Trial court erred in entering final judgment of foreclosure in favor of subsequent mortgagee where subsequent mortgagee attempted to preserve and assign an otherwise...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending August 14, 2020

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Real Property Update - Foreclosure / Standing: assignee of note was entitled to foreclosure for being in possession of original note indorse in blank, consistent with the copy attached to the complaint - Deutsche Bank...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending July 31 , 2020

Carlton Fields on

Real Property Update - Foreclosure / Surviving Lien: Lender’s lien on mobile home survived foreclosure sale of property where mobile home was located; mobile home remained personal property outside scope of foreclosure –...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending July 17, 2020

Carlton Fields on

Financial Services Update- TCPA / Standing / Text Messages: Plaintiff failed to establish standing to bring TCPA claim because plaintiff had not shown he suffered an injury in fact where he received two text messages,...more

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