Category Archives: Lending

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SEC Adopts Amendments to Rule 15c2-12

Rule 15c2-12 of the Securities Exchange Act of 1934 (Rule 15c2-12) was adopted by the Securities and Exchange Commission (SEC) in 1989 to establish standards for the procurement and dissemination of disclosure documents by underwriters as a means of enhancing the accuracy and timeliness of disclosure to municipal securities investors. Previous amendments to Rule 15c2-12 … Continue Reading

In Bartram, Florida Supreme Court Holds That Statute Of Limitations Does Not Bar The Filing Of A Second Mortgage Foreclosure Action

On Nov. 3, 2016, the Florida Supreme Court issued its long-awaited decision in Bartram v. U.S. Bank National Association, No. SC14-1265, 2016 WL 6538647 (Fla. Nov. 3, 2016), bringing much-needed clarity to the outstanding question of whether the dismissal of a mortgage foreclosure action more than five years after it was filed bars the lender … Continue Reading

The Ninth Circuit Issued a Ruling in Bourne Valley Court Trust v. Wells Fargo Bank, NA

Last week, the Ninth Circuit held, in Bourne Valley Court Trust v. Wells Fargo Bank, NA that Nevada’s super-lien priority statute, NRS § 116.310, prior to certain amendments enacted in 2015, was facially unconstitutional. Nev. Rev. Stat. 116.3116 establishes that liens resulting from non-payment of homeowners’ association (HOA) have priority over other secured liens for … Continue Reading

FCC Proposes Rules to Limit the Use of Robocalls to Collect Debts Owed to or Guaranteed by the United States

The Federal Communications Commission (FCC) has proposed rules to implement a provision in the Bipartisan Budget Act of 2015 (Budget Act) that allows robocalls (i.e., calls made with an automatic telephone dialing system or calls with an artificial or prerecorded voice) to be used for the purpose of collecting a debt owed to or guaranteed … Continue Reading

Lenders Get Protection Under New Amendments to Nevada’s HOA Lien Priority Statute.

In a September 2014 ruling, the Nevada Supreme Court held that a homeowners association’s (HOA) non-judicial foreclosure sale can extinguish a mortgage lender’s previously-recorded first deed of trust on a property if that foreclosure is to recover assessments categorized as “super priority” amounts (generally nine months of regular assessments, plus any amounts required for abatement) … Continue Reading
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