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Case Citations [1] (July 2020 - April 2021)

handle is hein.ali/retpmrtges0028 and id is 1 raw text is: PROPERTY 3D: MORTGAGES Introduction Iowa, 2020. Intro. cit. and quot. in sup. Senior mortgagee brought a foreclosure action against mortgagor and junior mortgagee, alleging that, pursuant to the terms of plaintiff's mortgage, plaintiff's mortgage had priority for amounts due on the mortgage beyond the stated credit cap, including advances from plaintiff to mortgagor. The trial court granted plaintiff's motion for summary judgment of foreclosure. This court reversed and remanded, holding that plaintiff's priority was limited by the credit cap set forth in its mortgage. The court relied on Restatement Third of Property: Mortgages in illustrating the legislative intent behind the statutes governing credit caps and mortgage seniority, because the Restatement articulated legal rules balancing the needs of the lending industry with the needs of borrowers. Blue Grass Savings Bank v. Community Bank & Trust Company, 941 N.W.2d 20, 27. CHAPTER 1. CREATION OF MORTGAGES § 1.1 The Mortgage Concept; No Personal Liability Required C.A.6, 2020. Cit. in case cit. in sup. Condominium owners brought a lawsuit under the Fair Debt Collection Act (Act) against condominium-management company and law firm retained by management company, alleging that defendants violated the Act by wrongfully recording a lien against the condominium, non-judicially foreclosing against them, and falsely representing the amount of overdue condominium-association fees. The district court granted defendants' motion to dismiss. This court affirmed, holding, inter alia, that defendants did not violate portions of the Act governing general debt collectors, because their actions did not deprive them of their status as security-interest enforcers as defined by the Act. The court cited a U.S. Supreme Court case citing Restatement Third of Property: Mortgages § 1.1 in defining mortgages that trigger non-judicial foreclosures as being a form of security interest, and explained that plaintiffs failed to allege any activity by defendants that went beyond enforcement of such security interests as to render defendants liable as general debt collectors. Bates v. Green Farms Condominium Association, 958 F.3d 470, 478. § 1.2 No Consideration Required Fla.App.2020. Quot. in ftn. After bank filed a residential-mortgage-foreclosure action against homeowner, the trial court granted homeowner's motion for involuntary dismissal, finding that, although bank was apparently the assignee of the mortgage on homeowner's property, the underlying note was not properly negotiated to bank and bank therefore lacked standing to foreclose. The trial court denied homeowner's subsequent motion for attorney's fees under the terms of the mortgage, finding that a defendant in a residential-mortgage-foreclosure case who prevailed because the plaintiff failed to establish its standing to foreclose was not entitled to recover attorney's fees under a prevailing-party attorney's fee provision. This court affirmed, holding that judicial restraint precluded it from resolving homeowner's argument that a mortgage was a stand-alone contract that offered an independent basis COPYRIGHT ©2021 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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