The Superior Court of New Jersey, Hudson County, Chancery Division-General Equity Part recently held that a condominium association’s attempt to redeem a tax sale certificate on a condominium on which it held a lien was not valid because it was neither a mortgagee nor the owner of the property. See JNH Funding Corp. v. Ayed et al., F-8704-14 (N.J. Ch. Div. March 21, 2017).
The California Court of Appeals recently reversed a trial court’s order and held that an insured property owner was collaterally estopped from suing a title insurance company for coverage regarding a forged deed to the insured property. See Gillard v. Fid. Nat’l Title Ins. Co., 2017 WL 345086 (Cal. Ct. App. 2017), reh’g denied (Feb. 14, 2017), review filed (Mar. 7, 2017). In the case, the insured purchased the property in 2004.
The Supreme Judicial Court of Maine recently affirmed a lower court’s judgment in favor of defendant title insurance company and the denial of plaintiff’s cross-motion for summary judgment in an action for coverage and indemnification under a title insurance policy on the ground that plaintiff failed to identify any cloud on its title or any other title defect that would implicate defendant’s duty to defend.
The United States District Court for the Southern District of Florida recently granted defendant mortgage company’s motion to dismiss plaintiff’s complaint alleging, inter alia, violations of the Real Estate Settlement Procedures Act, 12 U.S.C. §2605(k) (“RESPA”) and the Fair Debt Collection Practices Act, 15 U.S.C. §§1692e, 1692f (“FDCPA”), because she failed to provide defendants with notice of the alleged issues and an opportunity to cure, as required under the mortgage.
In a homeowner class action, the United States Court of Appeals for the Third Circuit recently held that a lender that modifies a mortgage cannot rely on an updated property value to recalculate the length of the homeowner’s mortgage insurance obligation under the Homeowners Protection Act (the “HPA”) unless same is expressly set forth in the loan modification agreement.
The Appellate Division of New York, Second Department, recently affirmed the Supreme Court’s determination that a foreclosing bank’s successor in interest can recommence an otherwise time-barred foreclosure action within six months of the initial action being dismissed as abandoned.
The United States Court of Appeals for the Eleventh Circuit recently affirmed a lower court’s decision that a servicer did not violate the Real Estate Settlement Procedures Act (“RESPA”) by signing a certified mail return receipt card in response to a borrower’s request for information (“RFI”).
The United States Court of Appeals for the Ninth Circuit recently held that a directors-and-officers liability-insurance policy issued to a bank (the “D&O Policy”) did not cover claims made by the Federal Deposit Insurance Corporation (“FDIC”) after the bank failed.
The United States District Court for the Western District of New York recently granted defendant’s motion to dismiss plaintiff’s first cause of action alleging violations of the Fair Debt Collection Practices Act, 15 U.S.C. 1692 et seq. (“FDCPA”), on the ground that plaintiff failed to sufficiently plead that the communications from defendant were sent in an attempt to collect a debt.