Press "Enter" to skip to content

Posts published in “Mortgage Banking Foreclosure Law”

Mortgage Banking Foreclosure Law

Illinois App. Court (1st Dist) Rejects Challenge to Foreclosure Affidavit Based on Reliance on Prior Servicer’s Records

The Appellate Court of Illinois, First District, recently upheld a trial court’s order granting a mortgagee's motion for summary judgment, judgment of foreclosure, sale, and order confirming the foreclosure sale.

7th Cir. Rejects FCRA Claim for Lack of Standing at Summary Judgment Stage

The U.S. Court of Appeals for the Seventh Circuit affirmed a trial court’s dismissal, on separate grounds, of a borrower’s FCRA claims because the borrower lacked standing. In addition, the Seventh Circuit held that the borrower’s affidavit made conclusory statements with documentary support and was therefore insufficient to defeat the lender’s motion for summary judgment. 

2nd Cir. Holds NY’s Interest-on-Escrow Law Preempted as to National Banks

The U.S. Court of Appeals for the Second Circuit recently held that: (1) New York’s interest-on-escrow law is preempted by the National Bank Act of 1864 under the “ordinary legal principles of pre-emption,” Barnett Bank of Marion Cnty., N.A. v. Nelson, and (2) the amendments to the NBA in the Dodd Frank Wall Street Reform and Consumer Protection Act did not change this analysis.

Illinois App. Court (5th Dist) Holds Release of Mortgage May Be Obtained by Citation to Recover in Probate

The Illinois Court of Appeals, Fifth District, recently affirmed a trial court’s judgment granting the release of a mortgage and vacated the trial court’s order denying an award of attorney’s fees. In so ruling, the Appellate Court held that a citation to recover under section 16-1 of the Illinois Probate Act is a proper vehicle to be used to obtain a release of mortgage.

Arizona Supreme Court Holds Notice of Trustee’s Sale Does Not Accelerate Debt, Foreclosure Not Time-Barred

The Supreme Court of Arizona recently held that recording a notice of trustee's sale, by itself, is not an affirmative act that accelerates the debt. Therefore, the Court held, the foreclosure at issue in the notice of trustee's sale in this case was not time-barred.

Massachusetts SJC Limits MPHLPA and 93A Counterclaims in Eviction Proceedings

In an appeal attracting amicus briefs from the AARP, the National Consumer Law Center, the Massachusetts Attorney General, and others, the Massachusetts Supreme Judicial Court, the state’s highest court, recently reversed in part and affirmed in part a trial court's grant of summary judgment in favor of a mortgagee on counterclaims brought by the borrowers in summary process eviction proceedings following a non-judicial foreclosure.

Illinois App. Court (1st Dist) Rejects Challenge to Foreclosure Based on Supposedly Unapplied Payments

The Appellate Court of Illinois, First District, recently affirmed a trial court’s order confirming a judicial sale of real property collateral following a mortgage foreclosure, as well as the trial court’s denial of the borrower’s motion to reconsider that order.