Category Archive for : ‘Articles’

Jurisdictional Impact on Recovery of Deficiency

As the overall volume of new foreclosures finally decreases, default servers and investors are looking for ways to recover their losses from the recent foreclosure boom.  Prior to the economic downturn of 2008, investors could expect to recover the full amount of a borrower's outstanding debt at foreclosure sale in a substantial number of cases.  In more recent years, however, the outstanding debt (including principal, interest, escrow advances, property preservation, and other foreclosure costs) often exceeds the deflated market value of the collateral real property.  The high volume of disparities between amounts owed and property values has required investors to consider various factors in …

USFN—America’s Mortgage Banking Attorneys, announced that Michael Zevitz, shareholder and managing attorney of SouthLaw, P.C., has been named USFN president effective Nov. 1, 2014.

Founded in 1988, USFN is a 50-state trade association serving the mortgage banking industry. As USFN president, Zevitz is serving a two-year term during which he is responsible for working with USFN’s Board of Directors to advance the real estate finance industry and the network’s membership through education, legislative, political and governmental reform. In addition to his role as president, he serves on USFN’s Technology Committee, and was awarded USFN’s 2013 Member of the Year and USFN Committee Chair of the Year in 2002.

A shareholder …