Archives For: Industry Updates
Mortgage Program Offers Struggling Homeowners Fresh Start
On January 16, National Mortgage News posted an article (previously published by Newsday) discussing the recently launched New York State Mortgage Assistance Program.
21 Jan 2015
New York State Department of Financial Services 11 NYCRR27 (Insurance Regulation 202)
The New York State Department of Financial Services has published the Final Adoption of Regulation 202 (11 NYCRR 227), titled Regulation of Force-Placed Insurance. The regulation is effective February 7, 2015.
21 Jan 2015
New Michigan Foreclosure Laws to Help Borrowers Facing Potential Home Loss
On January 16, LegalNews.com published an article titled Legislation to help keep Mich. families in homes.
19 Jan 2015
Congress Extends Foreclosure Postponements for Military Servicemembers
On January 12, JD Supra Business Advisor posted an article by CEB (Continuing Education of the Bar-California) discussing the recent decission by Congress to extend special provisions in the Servicemembers Civil Relief Act (SCRA) (50 USC App §§501–597a).
13 Jan 2015
Eminent Domain for Mortgages
On January 12, Commonwealth Magazine released an article discussing the idea of using a municipality’s powers of eminent domain to aid homeowners facing foreclosure.
13 Jan 2015
MI HB 5794: Amending Procedural Requirements for Property Inspections During Redemption Periods
On December 29, MI HB 5794 was signed by the Governor of Michigan and on December 31 was assigned as Public Act 431 of 2014 with immediate effect.
8 Jan 2015
Too Late to Foreclose?
On December 30, Mike Provenzale, senior associate in the Creditor’s Rights practice area for Lowndes, Drosdick, Doster, Kantor & Reed, P.A. authored an article discussing the Florida statute of limitations for mortgage foreclosures and the question of timeframes for a second foreclosure suit after the first has been dismissed.
8 Jan 2015
Wisconsin Court of Appeals Rejects Publication Deadline For Residential Foreclosures
On December 15, Bradley, Arant, Boult, Cummings LLP published an Appellate Alert discussing the Wisconsin Court of Appeals’ decision in Bank of America, N.A. v. Prissel,-N.W.2d-Nos. 2014AP642 & 2014AP647.
30 Dec 2014
Massachusetts Supreme Judicial Court Invalidates Two Springfield Anti-Foreclosure Ordinances
On December 19, MassLive.com released an article titled SJC rules against Springfield in foreclosure ordinance case.
24 Dec 2014
At MBA’s Urging, Federal Action Taken on Eminent Domain Mortgage Seizure Proposal
On December 17, the Mortgage Bankers Association (MBA) released an MBAlert discussing a provision in the Fiscal Year 2015 omnibus appropriations bill that bars HUD, FHA and Ginnie Mae from insuring, securitizing, or establishing a Federal guarantee for mortgage loans seized through eminent domain.
22 Dec 2014