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Case Citations [1] (July 2019 - April 2020)

handle is hein.ali/retpmrtges0026 and id is 1 raw text is: PROPERTY 3D: MORTGAGES CHAPTER 1. CREATION OF MORTGAGES § 1.1 The Mortgage Concept; No Personal Liability Required U.S.2019. Cit. in disc. Borrower who defaulted on a note secured by a mortgage on his home sued law firm hired by lender to act as its agent in carrying out a non-judicial foreclosure on the home, alleging that law firm violated the Fair Debt Collection Practices Act and Colorado law by failing to provide verification of the debt and by failing to cease collecting on the debt. The district court granted law firm's motion to dismiss, finding that law firm was not a debt collector within the meaning of the Act. The court of appeals affirmed. Affirming, this court held that entities like law firm that were engaged in no more than the enforcement of security interests were exempted from the majority of the Act's prohibitions. In making its decision, the court relied on Restatement Third of Property: Mortgages § 1.1 in defining a mortgage as a security interest in property designed to protect a creditor's investment. Obduskey v. McCarthy & Holthus LLP, 139 S.Ct. 1029, 1033. C.A.6, 2019. Cit. in disc. Wife who had acquired full title to her house during her divorce from husband sued loan servicer, alleging that it violated the Real Estate Settlement Procedures Act by failing to properly review her requests for relief before foreclosing on the house. The district court dismissed, finding that the Act created a cause of action that extended only to borrowers, and that wife was not a borrower, because, while she and husband both signed the mortgage on the house, only husband signed the note secured by the mortgage, and wife was thus never personally obligated on the note. Affirming, this court held that the district court correctly concluded that wife did not have a cause of action under the Act, because she was not a borrower. In making its decision, the court cited the definition of a mortgage set forth in Restatement Third of Property: Mortgages § 1.1. Keen v. Helson, 930 F.3d 799, 801. CHAPTER 6. PAYMENT AND DISCHARGE § 6.4 Redemption from Mortgage by Performance or Tender Nev.2019. Subsec. (a) cit. in diss. op. Buyer that was the successful bidder on a commercial property at a foreclosure sale conducted by unit-owners' association to recover unpaid assessments brought a quiet- title action against association, its foreclosure agent, and property owner, alleging that agent improperly declined to issue a foreclosure deed to buyer on the ground that owner had mailed a check to agent for the full amount of the delinquency prior to the sale, which agent failed to process until after the sale. After a bench trial, the trial court ruled in favor of defendants, finding that plaintiff failed to show that the check curing the delinquency had not arrived before the sale. Reversing and remanding, this court held that, once a bid was accepted and payment was made, the foreclosure sale was complete and title vested in the purchaser, and the person conducting the sale had no discretion to refuse to issue the foreclosure deed. The dissent argued that, although the equitable right to redeem property from a lien by COPYRIGHT 02020 By THE AMERICAN LAW INSTITUTE All rights reserved Printed in the United States of America For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination.

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