Items Tagged with 'Nevada'

ARTICLES

Court of Appeals rules that Nevada HOA liens do not supersede first mortgages

Older version of state's laws ruled unconstitutional
Mortgage lenders and investors needn’t worry about whether a homeowners' association super lien will be given priority over a first mortgage in the state of Nevada, at least for now. According to an alert published Monday by Ballard Spahr, the Ninth Circuit Court Appeals ruled last week that an older version of Nevada's laws, which previously gave super-priority status to HOA liens, is unconstitutional. Here's the skinny.
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Nevada Appeals Court tosses $107 million mortgage fraud penalty

8th Amendment rescues Melissa Beecroft
A Nevada woman who was once part of the largest mortgage fraud schemes in the history of the state will no longer forfeit $107 million after a federal court of appeals overturned part of her penalty because it violated the Eighth Amendment, which prohibits the government from imposing "excessive fines" and "cruel and unusual punishments."
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From HW Magazine

Right of redemption on HOA sales

A solution or just another problem for servicers in Nevada?
The crown jewel of SB 306 is the right of redemption in the event an HOA foreclosure sale slips through the cracks. On its surface, the right of redemption is a well-needed safety valve for lenders and homeowners; however, its application may be challenging.
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Nevada foreclosure crisis hurting Clinton, Sanders' efforts to get votes

With Democratic caucus approaching, candidates' voter lists insufficient
With the Nevada Presidential caucuses looming, the two major candidates for the Democratic nomination are struggling to contact potential voters thanks to voter lists that are out of date and insufficient due to the deep impact of the foreclosure crisis in the state.
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Is Nevada’s HOA solution just another problem for mortgage servicers?

Exercising the new right of redemption on HOA sales
Redemption requires timely and reasonable cooperation by the purchasers, the same purchasers that the servicers have been litigating with for the last several years. As a result, exercising the right of redemption could very well lead the servicer into quiet title litigation, again. Here's what you need to do.
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Here's what homes built specifically for Millennials look like

The idea behind a responsive home
A new housing community put Millennial needs at the forefront of its design plans, given that they are the next largest cohort of homebuyers. Interestingly, they are pretty nostalgic about the kinds of homes they grew up in, causing the houses to have to an old-time feeling to them.
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Las Vegas lawyer disbarred for mortgage fraud

Currently serving 87 months in federal prison
The Nevada Supreme Court stripped a prominent Las Vegas attorney of his right to practice law in the state as part of the punishment for his place in a mortgage fraud scheme that defrauded financial institutions of more than $30 million.
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Freedom Mortgage acquires BluFi Lending

Expands West Coast presence
Mount Laurel, N.J.-based Freedom Mortgage Corporation purchased the assets of BluFi Lending, a direct mortgage lender with branches in California and Nevada, falling in line with Freedom Mortgage’s strategy to expand its retail lending footprint in the Western U.S.
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Wall Street: Home price appreciation still expected to hit 7%

And other housing insights from Morgan Stanley and Barclays
“We continue to expect home price appreciation to moderate from the torrid pace of mid-2012-13, supported by improving employment and growth prospects,” said analysts from Morgan Stanley. “We leave our 2014 projections for new home sales (450-500 thousand units) and home prices (up 5-7% for the year) unchanged.”
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10 cities with huge housing improvement

Quarter-over-quarter asking prices paint new housing picture
Since the initial bust of the housing market, it tends to be the metros that felt a huge dent from the crisis that witness the biggest home price increases. But this trend is starting to change.
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