Jimerson Firm

JANUARY 14, 2021

The first half of this series evaluated options available to lenders prior to instituting a commercial foreclosure action. The second-half of this series has evaluated available options to lenders during the pendency of the foreclosure action. 1), directs the defendants to show cause why a foreclosure judgment should not be entered.

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Account Recovery

SEPTEMBER 11, 2024

We are incredibly happy to have Regina bring new ideas and direction to our firm” said Arthur Sanders, one of the BNPC’s shareholders and directors. Slowey’s office in Michigan brings the firm’s total reach to eleven states, including two offices in Texas and two in California. It is an exciting time for our firm.”

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Jimerson Firm

SEPTEMBER 22, 2020

Parts 1-3 of this series explored alternative pre-foreclosure loss mitigation options for lenders including acceleration and enforcement of personal guarantees. The answer to the question of whether hotel revenues constitute rent under Section 697.07, Florida Statutes, may depend upon the district in which the foreclosure action is pending.

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Jimerson Firm

JULY 20, 2020

In 2013, the Legislature enacted Section 702.015 , Florida Statutes, which sets forth new pleading requirements for residential foreclosure actions. At that time, the Legislature requested the Florida Supreme Court to amend the Florida Rules of Civil Procedure to provide expedited foreclosure proceedings in conformity with Section 702.015.

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Jimerson Firm

MAY 26, 2021

Lenders need to be aware that borrowers and other lienholders can bring an action or proceeding to set aside, invalidate, or challenge the validity of a final judgment of foreclosure of a mortgage, even after the foreclosure sale. When Can the Foreclosure Sale Be Invalidated? Nationstar Mortg., Diaz , 227 So. 3d 726, 730 (Fla.

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Consumer Financial Services Law

FEBRUARY 1, 2018

The Tenth Circuit has weighed in on whether a non-judicial foreclosure is debt collection activity. With the Tenth Circuit’s decision the circuits remain split with the Ninth Circuit and now the Tenth Circuit holding that non-judicial foreclosures are not debt collection activity and the Fourth, Fifth and Sixth Circuits holding that they are.

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Jimerson Firm

NOVEMBER 13, 2020

if the collateral is likely to be acquired by SBA or the lender at the foreclosure sale, the expenses associated with the care, preservation and resale of the acquired collateral. In Florida, the lender can choose from the following methods: Deed in Lieu of Foreclosure. Lien Foreclosure. See SOP 50 57.

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BN Lawyers

MARCH 21, 2019

McCarthy & Holthus, LLP, holding that that business engaged solely in non-judicial foreclosure activities are generally exempt from the Fair Debt Collection Practices Act, 15 U.S.C. It is unclear what impact the decision on the debt collection and foreclosure industry beyond the limited facts of the case, but as in Henson v.

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Jimerson Firm

AUGUST 7, 2020

The Act codifies existing common law in Florida regarding the right to have a receiver appointed by the court in commercial foreclosure actions, and provides much needed clarity, predictability, and uniformity on the standard for the appointment of a receiver and the powers of receivers. What is the Purpose of the Act? Conclusion.

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Burr Forman

SEPTEMBER 14, 2020

Tampa Partner, Jacqueline Simms-Petredis has been appointed to Bay Area Legal Services’ Development Council, a volunteer leadership group that helps to secure the financial future of Bay Area Legal through fundraising efforts. Members are influential leaders with a demonstrated commitment to Bay Area Legal.

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Consumer Financial Services Law

FEBRUARY 18, 2019

McCarthy & Holthus LLP regarding whether non-judicial foreclosures qualify as debt collection under the FDCPA, the Sixth Circuit doubled down on its position that non-judicial foreclosures are debt collection. Trott Law, P.C. Building on its 2013 decision in Glazer v. Chase Home Finance LLC., 3d 453 (6th Cir. In Scott v.

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Jimerson Firm

NOVEMBER 11, 2020

a bankruptcy filing, business shutdown, or foreclosure by a prior lienholder) that caused the loan to be classified in liquidation status or sooner if the collateral could be removed, lost, or dissipated. The post SBA Loan Site Visits: How to Prepare and What to Expect appeared first on Jimerson Birr Law Firm.

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Consumer Financial Services Law

MARCH 15, 2019

In those cases, the Sixth Circuit concluded that foreclosure proceedings are debt collection. In 2016, the bank engaged the defendant law firm to foreclose on the underlying real property. The law firm then sent Ms. Tyler sued the law firm, claiming the letter violated 15 U.S.C. Trott Law, P.C.

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Jimerson Firm

NOVEMBER 23, 2020

if the collateral is likely to be acquired by SBA or the lender at the foreclosure sale, the expenses associated with the care, preservation and resale of the acquired collateral. Lien Foreclosure. The post SBA Loans: How to Maximize Recovery by Liquidating Personal Property appeared first on Jimerson Birr Law Firm.

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Jimerson Firm

JULY 30, 2020

Part 2 of this series analyzed pre-foreclosure loss mitigation options for lenders dealing with hotel/restaurant mortgage defaults. and a foreclosure sale netted the lender $3,675,000 leaving a deficiency of $918,398.49. Part 2: Pre-Foreclosure Loss Mitigation Options. See, e.g. , Guirlinger v. Goldome Realty Credit Corp.,

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Jimerson Firm

DECEMBER 30, 2020

Essentially, a workout agreement restructures the material terms and conditions of the SBA loan in order to: avoid actions such as foreclosure or bankruptcy; allows the borrower to cure the default and improve their ability to repay the loan; and enables the lender or CDC to maximize their recovery on the loan. SOP 50 57 ; SOP 50 55.

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Consumer Financial Services Law

MARCH 15, 2018

2018), a letter from a law firm advising the consumer that the creditor would not seek recovery of the deficiency balance resulted in an FDCPA claim. Pursuant to our conversation, I informed you that we have received the executed Warranty Deed in Lieu of Foreclosure signed by the Hagy[s]. Demers & Adams, 2018 U.S.

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Collateral Debt collector Foreclosure Law Firms 40

Troutman Sanders

APRIL 11, 2022

On April 6, the Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac will require servicers to suspend foreclosure activities for up to 60 days if the servicer has been notified that a borrower has applied for assistance from the Treasury Department’s Homeowner Assistance Fund.

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Troutman Sanders

MAY 16, 2022

To help you keep abreast of relevant activities, below find a breakdown of some of the biggest legislative and regulatory events at the federal and state levels to impact the Consumer Finance Services industry this past week: Federal Activities. State Activities. Privacy and Cybersecurity Activities. For more information, click here.

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Troutman Sanders

NOVEMBER 7, 2023

Participants acknowledged the importance of their partnership on financial innovation as a crucial part of U.S.-UK UK financial services cooperation and expressed a desire to continue discussing these topics ahead of the next meeting in 2024. For more information, click here. For more information, click here.

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Troutman Sanders

MAY 24, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. You may access this interactive tool at [link]. For more information, click here. On May 20, U.S. For more information, click here.

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