Archives For: Industry Updates
Servicers Must Get Current on Flood Insurance Requirements
National Mortgage News published an article exploring Minimum Flood Insurance Requirements (MFIR).
1 Jul 2016
Here?s One Way to Fight Zombie Properties
The New York Law Journal published an article authored by Bruce J. Berkman, a partner with Berkman, Henoch, Peterson & Fenchel. In it, Berkman discusses a recently passed law in Hempstead Town, NY (Ordinance No. 46-2016) that requires servicers to provide a financial security deposit to maintain vacant and abandoned properties that are in the process of foreclosure.
29 Jun 2016
Death of Defendant During Pendency of Connecticut Foreclosure Action ? Appellate Case Update
The National Law Review published an article authored by Andrew Barsom of Murtha Cullina LLP. In it, Barsom discusses a recent action from the Connecticut Appellate Court in regard to the topic of whether or not a lender foreclosing a mortgage in Connecticut must comply with the statutory process to make the administrator of the decedent a party to the action to ensure a proper judgment of foreclosure enter.
14 Jun 2016
Congress to Consider Changes to Controversial CFPB Complaint Database
HousingWire published an article discussing the CFPB Data Accountability Act, which was recently introduced into the House of Representatives.
13 Jun 2016
Foreclosure Firm Cleared of FHA Loan Deficiency Liability by Federal Court
A recent article authored by Joel E. Tasca and Jenny N. Perkins of Ballard Spahr LLP addressed an action by an Illinois federal district court pertaining to the issue of a deficiency on a Federal Housing Authority (FHA) insured loan.
9 Jun 2016
County Identifies Responsible Parties to ?Zombie? Properties
The Ken-Ton Bee published an article discussing the efforts of New York State Assemblyman Michael Kearns to collect public complaints pertaining to vacant, blighted homes in order to raise awareness of their existence and inspire action from the state.
8 Jun 2016
Proposed New York Legislation Targets Foreclosure Policy
Two bills involving foreclosure procedure have advanced to a third reading in the New York State Assembly: A.8559 (Relates to providing notice to a homeowner whose property is being foreclosed that they do not have to abandon the property until the day of the foreclosure sale) and A.4842 (Requires plaintiffs in mortgage foreclosure actions to provide contact information).
1 Jun 2016
Congressional Grants to Aid More Struggling Borrowers
DS News published an article discussing the latest grant by the National Foreclosure Mitigation Counseling (NFMC) program to assist areas throughout the country struggling with high rates of foreclosure.
31 May 2016
Servicers Remain Aggressive with Outreach Efforts
DS News published an article discussing data released by HOPE NOW for the first quarter of 2016.
26 May 2016
Assembly Passes Legislation to Combat Zombie Homes in New York State
The New York State Assembly issued a press release announcing the passage of several pieces of legislation targeting abandoned residential properties. Among them is A06932-A/S04781 (“Abandoned Property Neighborhood Relief Act of 2016”), which was produced in conjunction with New York State Attorney General Eric Schneiderman.
24 May 2016