Category Archive for : ‘Articles’

SouthLaw, P.C. has recently hired two new associate attorneys that will practice in the litigation department located in the corporate office in Overland Park, KS.

Courtney Noll received her B.A. from William Jewell College and her J.D. from the University of Missouri-Kansas City School of Law. She is licensed to practice in both state and federal courts in Missouri and Kansas.

Tammee McVey received her B.S. from St. Mary of the Plains College and her J.D. from the University of Kansas. She is also licensed to practice in both state and federal courts in Missouri and Kansas.…

Shareholder, Mike Zevitz and Director of Client Relations, Jennifer Alvarez were part of several USFN members who helped build a garden for the Cincinnati Children's Hospital during the USFN Loan Management and Servicing Seminar in June 2015.  In addition to the labor of love, the members raised over $2,000 to donate to the hospital.

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Legal Hurdles - Managing Change While Striving for More Transparency

Michael L. Zevitz is a Shareholder and Managing Attorney for SouthLaw, P.C. in the firm's corporate office located in Overland Park, Kansas. He has concentrated his practice of law in the areas of real estate finance and mortgage foreclosure since 1993. Mike was recognized as a "Best Lawyer in Kansas City" for Mortgage Banking Foreclosure Law in Ingram's magazine in 2010-2012. SouthLaw, P.C. is a member of the Legal League 100, a nationwide consortium comprised of 100 default servicing and financial services law firms providing a results-driven, go-to resource for the industry's decision makers. Mike recently spoke with DS News …

Bankrupting the Foreclosure Process?

Bankruptcies may be down, but legal and financial uncertainties remain

Because filing for bankruptcy is one of the few ways to stop a foreclosure from occurring, it is not surprising that a complex and closely connected relationship exists between the two processes.  Once a bankruptcy has been filed, a foreclosure cannot proceed (with a few statutory exceptions), and as such, declaring bankruptcy has remained a widely used tactic - a strategy of last resort. With that dynamic in mind, it seems evident that the marked decrease in bankruptcies over the last three to four years is partly - and perhaps primarily - driven by the large …

Time for lenders to pay attention to property condition as a part of the foreclosure process.

SouthLaw's Senior Attorney, Ed Brink shares important information regarding LB 151, a recent legislative bill approved by the Nebraska Legislature on February 26, 2015.  LB 151 requires the holder of a mortgage or deed of trust, or a trustee of a deed of trust, to provide the name and address of a designated PERSON that will accept service of notice of property code violations to any municipality that requests that information, in writing. While failure to provide a designated contact person, within the five business day deadline set out in the bill, does not …

Missouri: Condo Lien Priority Law Changes

During and after the foreclosure process, the issue of priority between home/condominium associations and deeds of trust arises frequently.  Both a lien recorded prior to the deed of trust that is to be foreclosed, and a lien against a former owner, would take priority and need to be cleared from title.

Home association liens and assessments are not controlled by a Missouri statute, and thus, are governed by individual covenants and declarations.  These liens and assessments typically, but not always, subordinate to a first lien or purchase-money deed of trust.  Condominium association assessments are governed by Missouri statute.

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Foreclosure Law – Uniformity in Our Future?

You may not be familiar with the Uniform Law Commission (ULC, also known as the National Conference of Commissioners on Uniform State Laws), but you’ve probably had exposure to some of the laws it has helped to promulgate.  For instance, there have been many uniform laws that have contributed substantially to the real estate industry over the years:  the Uniform Commercial Code, the Consumer Credit Code, the Electronic Transactions Act, the Real Property Electronic Recording Act, the Rules of Evidence...and the list goes on.

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FDCPA:  Split Among the Circuits as to the Validation of Debts & Disputes

There is a split of authority among the circuits as to whether or not a debtor must articulate a dispute in writing, under the validation of debts section of the Fair Debt Collections Practices Act (FDCPA), specifically 15 USC 1692g(a)(3).  This is certainly a topic for servicers to monitor because of the strict liability penalties imposed by the FDCPA.

15 USC 1692g states:

(a) Within five days after the initial communication with a consumer in connection with the collection of any debt, a debt collector shall, unless the following information is contained in the initial communication or …