201912.19
0

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)….

201912.19
0

COURT CLARIFIES REQUIREMENTS FOR PROVING SATISFACTION OF CONDITIONS PRECEDENT & EXPLAINS NEGATIVE AMORTIZATION DOES NOT DESTROY NEGOTIABILITY OF NOTE

The Second DCA recently issued an opinion wherein it agreed with its sister court that a note containing a negative amortization provision is still a negotiable instrument as defined by Florida Statute § 673.104(1) 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. In Stacknik,…

201911.19
1

UPDATE RE: BANKRUPTCY SURRENDER – DEBTOR’S SURRENDER IN BANKRUPTCY MOOTED APPEAL OF FORECLOSURE JUDGMENT

Earlier this month the Second DCA dismissed an appeal of a final summary judgment of foreclosure based on the statement of intentions the debtor/mortgagor (“Lewis”) filed in his chapter 7 bankruptcy proceedings. Lewis v. Innova Inv. Group, LLC. In Lewis the mortgagor appealed the bank’s final judgment of foreclosure and then the day before the…

201911.19
0

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…

201910.24
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MORTGAGE STATEMENT WITH CLEAR DISCLAIMER SENT AFTER MORTGAGE DEBT DISCHARGED IN BANKRUPTCY DID NOT VIOLATE § 524 OF THE BANKRUPTCY CODE

The Eleventh Circuit recently affirmed the bankruptcy court’s denial of a sanction motion filed by debtor/mortgagor, Arlene Roth (“Roth” or “the Debtor”), against her mortgage company, Nationstar Mortgage, LLC (“Nationstar”). In re Roth. In her sanction motion Roth asserted Nationstar violated 11 U.S.C. § 524 by sending her monthly mortgage statements after a bankruptcy court…

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…

201909.26
0

REQUIREMENTS FOR FORECLOSING A MODIFIED LOAN IN FLORIDA

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). In Rattigan, the original note “capped the principal amount that could…