201912.19
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COURT CLARIFIES REQUIREMENTS | Key Points

The Second DCA recently confirmed that a note containing a negative amortization provision is still a negotiable instrument as defined by § 673.104(1), Fla. Stat. Stacknik v. U.S. Bank Nat’l Ass’n as Tr., MASTR Adjustable Rate Mortgages Tr. 2007-3 Mortgage Pass-Through Certificates, Series 2007-3, 44 Fla. L. Weekly D2773 (Fla. 2d DCA Nov. 15, 2019)….

201911.19
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FLORIDA DCA OPINIONS | Key Points

In the last couple years, Florida DCAs have issued a series of opinions in foreclosure cases that addressed standing issues arising from irregular, incomplete or anomalous indorsements on notes. The current state of the common law is still in flux as the DCAs have seemingly conflicting views and evidentiary standards for evaluating holder status when…

201910.24
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MORTGAGE STATEMENT WITH CLEAR DISCLAIMER | Key Points

The Eleventh Circuit recently affirmed the bankruptcy court’s denial of a sanction motion filed by a debtor/mortgagor (“Roth”) against Nationstar, Roth’s mortgage company. In re Roth, 935 F.3d 1270, 1273 (11th Cir. 2019). Roth asserted Nationstar violated 11 U.S.C. § 524 by sending her monthly mortgage statements after a bankruptcy court had discharged her mortgage…

201909.26
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REQUIREMENTS FOR FORECLOSING | key points

In 2016 the Fourth DCA reversed a mortgagee’s final judgment of foreclosure and dismissed the case due to the mortgagee’s failure to introduce the written loan modification into evidence at trial. Rattigan v. Central Mortgage Co., 199 So. 3d 966 (Fla. 4th DCA 2016). Several trial courts interpreted Rattigan to mean that the original of…

201907.31
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FLORIDA COURTS DISAGREE ON LIABILITY | Key Points

The First DCA rendered an opinion this month wherein it refused to limit the liability of a condominium owner for assessments and expenses to only those incurred by the prior owner. Coastal Creek Condo. Ass’n, Inc. v. Fla Tr. Services LLC, 1D18-1457, 2019 WL 3114229, at *1 (Fla. 1st DCA July 16, 2019). FLA Trust…

201906.20
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US SUPREME COURT FINDS BANK | Key Points

On June 3, 2019, the United States Supreme Court (“USSC”) granted certiorari relief and weighed in on “the criteria for determining when a court may hold a creditor in civil contempt for attempting to collect a debt that a discharge order has immunized from collection.” Taggart v. Lorenzen, 139 S. Ct. 1795, 1799 (2019). The…

201906.20
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COURT ORDERS NEW TRIAL | Key Points

The Fourth DCA recently reversed the trial court’s dismissal of a foreclosure action finding the proffer of a complete payment history is not necessarily a requirement for the bank to foreclose its lien interest. Deutsche Bank Tr. Co. Americas as Tr. for Residential Accredit Loans, Inc., Mortgage Asset-Backed Pass-Through Certificates Series 2006-QO1 v. JB Inv….

201905.22
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DCA HOLDS BANK | Key Points

Last week the Fifth DCA granted certiorari relief to US Bank quashing (essentially reversing) a circuit court’s order compelling the bank to produce a specific person for an out-of-state deposition in a residential foreclosure action. U.S. Bank Nat’l Ass’n as Tr. for Certificateholders of Structured Asset Mortgage Investments II, Inc., Bear Stearns Arm Tr., Mortgage…

201905.22
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DCA FINDS | Key Points

The Fourth DCA reversed an involuntary dismissal of a Pinellas County, Florida mortgage foreclosure action finding the bank did in fact satisfy conditions precedent contrary to the trial court’s finding otherwise. HSBC Bank USA, N.A. as Tr. for Registered Holders of Renaissance Equity Loan Asset-Backed Certificates, Series 2007-3 v. Leone, 2D17-2851, 2019 WL 1967650, at…