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Full-Text Articles in Law
The Unfinished Business Of Dodd-Frank: Reforming The Mortgage Contract, Christopher K. Odinet
The Unfinished Business Of Dodd-Frank: Reforming The Mortgage Contract, Christopher K. Odinet
Faculty Scholarship
The standard residential mortgage contract is due for a reappraisal. The goals of Dodd-Frank and the CFPB are geared toward creating better stability in the residential mortgage market, in part, by mandating more robust underwriting. This is achieved chiefly through the ability-to-repay rules and the “qualified mortgage” safe harbor, which call for very conservative underwriting criteria to be applied to new mortgage loans. And lenders are whole-heartedly embracing these criteria in their loan originations — in the fourth quarter of 2015 over 98% of all new residential loans were qualified mortgages, thus resulting in a new wave of credit-worthy homeowners …
Banks, Break-Ins, And Bad Actors In Mortgage Foreclosure, Christopher K. Odinet
Banks, Break-Ins, And Bad Actors In Mortgage Foreclosure, Christopher K. Odinet
Faculty Scholarship
During the housing crisis banks were confronted with a previously unknown number mortgage foreclosures, and even as the height of the crisis has passed lenders are still dealing with a tremendous backlog. Overtime lenders have increasingly engaged third party contractors to assist them in managing these assets. These property management companies — with supposed expertise in the management and preservation of real estate — have taken charge of a large swathe of distressed properties in order to ensure that, during the post-default and pre-foreclosure phases, the property is being adequately preserved and maintained. But in mid-2013 a flurry of articles …
Summary Of Branch Banking & Trust V. Windhaven & Tollway, Llc, 131 Nev. Adv. Op. 20 (Apr. 30, 2015), Joseph Meissner
Summary Of Branch Banking & Trust V. Windhaven & Tollway, Llc, 131 Nev. Adv. Op. 20 (Apr. 30, 2015), Joseph Meissner
Nevada Supreme Court Summaries
The Court determined the proper interpretation of NRS 40.455(1), and applied it in a claim for a deficiency judgment following an out-of-state nonjudicial foreclosure. NRS 40.455(1) “does not require an out-of-state trustee’s sale to comply with NRS 107.080, nor does it preclude a deficiency judgment in Nevada when a nonjudicial foreclosure sale is conducted pursuant to the laws of another state.”
The Field In Ireland In 2014, Tom Dunne
The Field In Ireland In 2014, Tom Dunne
Articles
Repossessions are an important part of recovery in the housing market
Testing The Reach Of Ucc Article 9: The Question Of Tax Credit Collateral In Secured Transactions, Christopher K. Odinet
Testing The Reach Of Ucc Article 9: The Question Of Tax Credit Collateral In Secured Transactions, Christopher K. Odinet
Faculty Scholarship
This Article addresses the open question related to the use of tax credits as a source of secured capital. It first lays a foundation by analyzing the theoretical underpinnings of the UCC’s category for general intangibles and shows how classification as a general intangible can and should comport with the legal substance of tax credits as a form of secured financing. The work also investigates the theory and nature that forms the basis of tax credits and their economic value. Next, the Article provides an overview of the relatively meager case law on tax credit financing and explains how courts …
Why Mortgage "Formalities" Matter, David A. Dana
Why Mortgage "Formalities" Matter, David A. Dana
Faculty Working Papers
This Article argues that adherence to mortgage formalities regarding foreclosure is valuable for expressive reasons and also as a potential deterrent to future undesirable underwriting and securitization practices. The Article reviews how some courts have in effect written procedural requirements for foreclosure out of the law, and asks why these courts have done so and whether lenders' behavior might have been improved during this housing crisis had the state courts uniformly afforded equal respect to the legal rights of homeowners and those of lenders.
Financial Details, Kent Memorial, Edwin C. Goddard
Financial Details, Kent Memorial, Edwin C. Goddard
Articles
The following is a statement, with such details as I should think would answer the purposes of other chapters, of the ways and means adopted for securing the present building just completed at Ann Arbor.
The Lien Or Equitable Theory Of The Mortgage--Some Generalizations, Edgar N. Durfee
The Lien Or Equitable Theory Of The Mortgage--Some Generalizations, Edgar N. Durfee
Articles
The question is--What is the nature of the rights of a real property mortgagee in those jurisdictions which adopt the lien or equitable theory3 of the mortgage? In one sense this question calls for a full statement of the law of mortgages but that, of course, is not the sense in which the writer puts it. He means by it to put a broader and more scientific question--a question, be it at once confessed, of jurisprudence--yet a question which has an important bearing on, if it is not in fact conclusive of, several specific problems in the law, which will …