Greenberg Traurig Shareholders Michele L. Stocker and Jennifer L. Gray, both co-chairs of the Consumer Financial Services Litigation Practice, as well as Shareholder Murray B. Silverstein, will be speaking at the 2016 Mortgage Bankers Association (MBA) Legal Issues and Regulatory Compliance (LIRC) Conference. This four-day event will take place May 1-4, 2016, at the Hyatt Regency Denver at the Colorado Convention Center.

Stocker will be presenting on the panel “Major Litigation Update – Cases and Trends Affecting the Industry,” taking place at 1:30 p.m., Monday, May 2. This panel of litigators will recap major litigation, including recent cases heard by the Supreme Court, U.S. Courts of Appeal, and other federal courts affecting the industry. Other major cases and case trends in major state court actions will also be considered.


Continue Reading Three Greenberg Traurig Shareholders to Speak at Mortgage Bankers Association Legal Issues and Regulatory Compliance Conference

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) as set forth in Nevada Revised Statute (NRS) 116.3116. SFR Invest. Pool I, LLC v. U.S. Bank, N.A. et al., 334 P.3d 408 (Nev. Sept. 18, 2014). HOAs have conducted foreclosures of HOA assessment liens and sold properties at auction for a fraction of the amount owed to the lender – in some instances as low as $3,000. These sales were often made to third party purchasers or investors. The winning bidder at the foreclosure sales then frequently followed up with a quiet title action, claiming to own the property free and clear of all liens, including the lender’s previously-recorded first deed of trust on the property.
Continue Reading Lenders Get Protection Under New Amendments to Nevada’s HOA Lien Priority Statute.