201804.05
0

FLORIDA CODIFIES RIGHT TO RELY ON BANKRUPTCY DOCUMENTS TO ENFORCE DEBTOR’S SURRENDER OF MORTGAGED PROPERTY

The Florida Legislature recently enacted a new bill, Senate Bill 220, which allows a lienholder to file a debtor’s bankruptcy documents in state foreclosure proceedings to create a “rebuttable presumption” that the debtor “waived any defense to the foreclosure action.” By way of background, in bankruptcies filed under both chapter 7 and chapter 13 of…

201803.06
0

FLORIDA COURT FINDS BANK HAD STANDING TO FORECLOSE AS THE NOTE HOLDER DESPITE SECURITIZATION

The Third DCA recently reversed a final judgment entered in favor of two borrowers (Joseph and Margaret Buset, hereinafter “the Borrowers” or “the Busets”) in a foreclosure action concluding securitization of their loan did not affect the negotiable nature of the note or the Bank’s holder status.[i]  In Buset, the Borrowers executed a note and…

201801.08
0

SERVICERS’ BOARDING PROCEDURES

RECENT FORECLOSURE DEFENSE TREND – – CLAIMING THE BOARDING PROCESS IS A LEGAL FICTION – – HAS LED TO CRIMINAL CONTEMPT CHARGES Recently, several Florida circuit courts have addressed the onboarding procedures of mortgage loan servicers[i]. Courts are more closely scrutinizing a servicer’s boarding procedures to determine whether documentary evidence created by a prior servicer,…

201712.05
0

Florida Safe Harbor Provision Limits Association Assessments Due From Subsequent Non-Mortgage Holder Purchaser

The Fourth District Court of Appeals (“Fourth DCA”) recently affirmed the lower Court’s holding which extended the safe harbor protection provided under the Florida Homeowners Association statute[i], to a non-mortgagee/non-mortgage holder. [ii] The Homeowners Association statute addresses property assessments imposed by Florida homeowners’ associations. Under the pertinent provisions of this statute, if the associations’ governing…

201710.05
0

Trial Payment Plan is not an Enforceable Contract

TRIAL PAYMENT PLAN IS NOT AN ENFORCEABLE CONTRACT WHERE LENDER PROVIDED ADEQUATE BASIS FOR DENIAL OF PERMANENT LOAN MODIFICATION UNDER 12 C.F.R. § 1024.41(d) The Middle District of the United States District Court recently rendered an order in an action filed by two mortgagors (the O’Steens) against Wells Fargo Bank (“Wells Fargo” or “the bank”)…