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Florida Banking Law Blog Legal developments impacting banking, finance and loan enforcement in Florida

Category Archives: Foreclosure

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Does A Dismissal of a Foreclosure Action for Lack of Standing Prevent a Subsequent Action on the Same Default?

Posted in Foreclosure

In Florida, a plaintiff seeking to foreclose a mortgage must have “standing” to foreclose the mortgage as of the date it files its foreclosure complaint.[1] That is, if the plaintiff is not the original lender, it must establish that the promissory note and mortgage had been assigned to it prior to or as of the… Continue Reading

Fourth DCA Rules an Allonge Does Not Need to be Physically Attached to a Promissory Note

Posted in Foreclosure, Legal Rulings, Special Assets Litigation

To establish standing to enforce a promissory note, a lender must prove that it is the rightful holder of the negotiable instrument. Typically, this entails producing the original note together with all allonges endorsing the note to subsequent holders. Under Florida’s Uniform Commercial Code (“UCC”), an allonge must be “affixed” to the note such that… Continue Reading

Alleged Oral Modification of Note and Mortgage Rejected on the Basis of Statute of Frauds

Posted in Foreclosure

On December 9, 2015, Florida’s Fourth District Court of Appeal issued an opinion hurting a borrower’s ability to claim a lender orally agreed to modify the borrower’s obligations. In OCWEN Loan Servicing, LLC v. Delvar,[1] the trial court accepted a borrower’s argument that he was told by his lender that foreclosure proceedings would be halted… Continue Reading

Fourth DCA Continues to Hammer Lenders on Standing

Posted in Foreclosure

The Florida Banking Law Blog has stressed that Florida courts are quick to render judgments in favor of borrowers in foreclosure actions based on lenders’ lack of standing. The Florida’s Fourth District Court of Appeals has proven particularly active in finding that lenders failed to properly establish that they held their respective notes at the… Continue Reading