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Volume 2017 - Number 34

September 7, 2017

Ninth Circuit Upholds GSE Security Interest, Rules Federal Foreclosure Bar Preempts State HOA Law

Lenders and servicers of Fannie Mae and Freddie Mac mortgages notched a big win in the U.S. Court of Appeals for the Ninth Circuit, which found that a federal bar on foreclosure on government-sponsored enterprise loans preempted Nevadaís superiority lien law. As a published decision, the courtís ruling in Berezovsky v. Moniz resolves the dispute in favor of the federal foreclosure bar, according to Marc James Ayers and R. Aaron Chastain, attorneys with Bradley Arant Boult Cummings. It serves as a binding precedent in the Ninth Circuit and should guide other circuits in deciding cases involving homeowners associationsí super-priority liens, they said. In Berezovsky, the panel affirmed...

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With mortgage production down noticeably this year from 2017, how many lenders might disappear via M&A or failure during the next 12 months?

10% or less. It’s not that bad out there.
11% to 25%. It’s a challenging market.
25% to 40%. It’s going to be very ugly.
No opinion.

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