Law Commons^™

Dividing The Single Indivisible Transaction: Balancing The Interests Of Mortgagees And Innocent Occupants, Vincent Ooi

Research Collection Yong Pung How School Of Law

When a mortgagee provides the funds necessary to purchase a property, the law protects the priority of the mortgagee’s security interest from any other interests in the property created after that property was purchased (unless consented to by the mortgagee). The House of Lords affirmed this principle in Abbey National Building Society v Cann (‘Cann’), and rejected the technical argument based on a scintilla temporis in favour of the policy argument concerning the need to ensure that housing loans are available and affordable. The effect of this principle is to allow the mortgagee to enforce the security interest in the …

Priority Of Liens Between Construction Mortgagee And Mechanic's Lienors; Wayne Building & Loan Of Wooster V. Yarborough, Allan S. Hoffman

Akron Law Review

Ohio follows the generally accepted rule that where there is a mortgage securing future advances such advances create liens only as they are actually made, unless the mortgagee is obligated to make the advances. In the latter case the mortgagee's lien will date from the time of its recording. In addition to this nonstatutory method by which a mortgagee can obtain lien priority, there is a statutory method by which he can do so, namely the procedure provided by § 1311.14 of Ohio Rev. Code. This statute is not new, having been enacted in 1915. However, in 1919 the Ohio …

Lending Discrimination, The Foreclosure Crisis And The Perpetuation Of Racial And Ethnic Disparities In Homeownership In The U.S., Aleatra P. Williams

William & Mary Business Law Review

For decades the agencies charged with minding the ‘fair credit and lending’ shop turned a blind eye to those (lenders) who pilfered minority homeownership (and consequently minority wealth) by extending mortgage lending products that were, in many cases, unequal to similarly situated non-minority counterparts. Since the 1950s, when the federal government endorsed homeownership policies for minorities, and the 1960s, when antidiscriminatory D9lending laws were enacted, access to fair mortgage credit has been unattainable. Unbridled lending discrimination culminated in massive foreclosures for a disproportionate number of minority homeowners during the Housing and Foreclosure Crisis. Lenders disparately foreclosed upon upper class, middle …

Mortgage Foreclosure Proceedings: Where We Have Been And Where We Need To Go, Bryan E. Meek

Akron Law Review

The primary purpose for this comment is to provide an overview of the foreclosure process while introducing the laws and regulations that would govern an “ideal” foreclosure system. First, it provides a general introduction to the mortgage/foreclosure process. This introduction is crucial; it will help many to understand the way financial institutions have complicated the foreclosure process. Next, it analyzes various states, labeling them as either having “strict” foreclosure laws and regulations or having “lenient” foreclosure laws and regulations. Lastly, this comment discusses the pros and cons of various foreclosure requirements. The ultimate goal of this comment is to establish …

Usury And Loan Transfers, Roger Bernhardt, Alex Volkov

Publications

This Article is primarily concerned with the effect of transferring a mortgage loan from its originating loan broker to a group of small investors when that loan was at its inception usurious. However, because the rules applicable to that situation are not confined to mortgage law, we begin with a general explanation of usury rules before dealing with the particular real estate loan transaction mentioned.

Super Liens To The Rescue? A Case Against Special Districts In Real Estate Finance, Christopher K. Odinet

Christopher K. Odinet

In a time of limited resources and sluggish economic growth, competition between cities has become palpable, and the race for new investment often dictates the public agenda. To that end, the explosive growth of public-private partnerships between local governments and private investors has resulted in the creation of a myriad of special taxing districts, the purposes of which are limited only by the imagination. Of particular concern has been the growth of certain real estate development-related districts. Although first conceived to fund critical improvements where conventional credit was not available, in more recently years these special districts have been used …

Super-Liens To The Rescue? A Case Against Special Districts In Real Estate Finance, Christopher K. Odinet

Christopher K. Odinet