Alligator Road Widening Project – Florence, SC SCDOT proposed improvements would involve the widening of Alligator Road for a total estimated distance of 8 miles. According to the most recent engineering reports, Alligator Road’s number of lanes may increase to five lanes at certain portions of the road. The primary justification for this project is […]
I-85 Road Work – South Carolina Upstate SCDOT proposed to improve the I-85 corridor for approximately 12 miles to the North Carolina border. The purpose of the project is to improve the performance of the existing roadway and to ease congestion problems along this burgeoning section of I-85. Right of way acquisition has already begun […]
SCRA renewal and update President Obama recently signed into law the renewal of the “Foreclosure Relief and Extension for Service Members Act of 2015.” The renewal of the law allows a court to stay – for one year after a service member’s military service – any proceeding that enforces an obligation on real or personal […]
Wells Fargo Chapter 13 violations Washington, D.C. – The Department of Justice (DOJ) entered into a class action settlement with Wells Fargo Bank, N.A. (Wells Fargo) on November 5, 2015 ending a case whereby the defendant, Wells Fargo, was accused of failing to notify homeowners with legally mandated disclosures relating to the increase in their […]
CFPB Bulletin: RESPA Compliance and Marketing Service Agreements On October 8, the Consumer Financial Protection Bureau (the CFPB) published a bulletin discussing whether Marketing Services Agreements (MSAs) violate the Real Estate Settlement Procedures Act (RESPA) by providing a vehicle for unlawful kickbacks. RESPA prohibits mortgage originators and settlement service providers from giving or receiving “any […]
Hot fuel settlement Since 2006, the specter of so-called “Hot Fuel” general-litigation has burned hot and cold, seemingly looming and diminishing while the case progressed. Two cases have been remanded from the federal multi-state general-litigation to state courts in Kansas and California only to be defeated. Most recently, in an August 21, the Federal District […]
Reverse mortgage advertising…the new Marlboro Man? WASHINGTON, D.C. – The Dodd-Frank Act empowered the Consumer Financial Protection Bureau (the “CFPB”) to initiate regulations designed to protect and educate the consumer as it relates to financial transactions. The CFPB has interpreted this broad authority to include the ability to regulate how financial institutions advertise various loan […]
CFPB supports promulgation of e-closings WASHINGTON, D.C. – The Dodd-Frank Act empowered the Consumer Financial Protection Bureau (the “CFPB”) to issue regulations designed to protect and educate consumers regarding financial transactions. While commercial closings are outside the scope of the CFPB, the closing process of retail loans is included in the CFPB’s broad regulatory authority. […]
Reverse Mortgage Foreclosure Properly executing each document is crucial to each Mortgage transaction – even an innocent mistake can spell doom for a well-intentioned lender. Execution errors will prevent lenders from acquiring proper security. This issue was recently litigated in the Florida Court of Appeals case Smith v. Reverse Mortgage Solutions, Inc., where a lender […]
South Carolina Requirements for Equitable Subrogation Independence National Bank v. Buncombe Professional Park, LLC, et al. In 2007 an existing first mortgage was re-financed by Plaintiff, Independence National Bank. Due to an error by the closing attorney a second mortgage (held by a member of the bor-rower LLC) was not subordinated to the new mortgage. […]
