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Examining Mortgage Liens and ‘Equitable Subrogation’


first_img Tagged with: Equitable Subrogation Foreclosures March 10, 2021 4,352 Views Demand Propels Home Prices Upward 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Salvatore Carollo Demand Propels Home Prices Upward 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Equitable Subrogation Foreclosures 2021-03-10 David Wharton Salvatore Carollo has concentrated his practice in the area of creditors’ rights since 2007, primarily representing mortgage lenders and servicers in New Jersey and Pennsylvania. Prior to that, he was a Managing Attorney for the New Jersey office of a national foreclosure law firm, playing a vital role in growing that office while maintaining a large client portfolio. He has developed a broad base of knowledge in all aspects of foreclosure and related practice areas. He has litigated cases through trial and argued at the appellate level in New Jersey. He has also handled bankruptcy matters, loan workouts, REO transactions, title resolutions, and landlord/tenant matters. in Commentary, Daily Dose, Featured, Newscenter_img The New Jersey Appellate Division in New York Mortgage Trust v. Deely, 2021 WL 520063 (App. Div. 2021) has recently published the latest in a series of opinions concerning equitable subrogation. Equitable subrogation, “rooted in principles of equity, is used to compel the ultimate discharge of an obligation by the one who in good conscience ought to pay it,” regardless of whose mortgage was recorded first. Prior decisions on equitable subrogation such as Investor Savings Bank v. Keybank Nat’l Ass’n, 424 N.J. Super. 439 (App. Div. 2012), Sovereign Bank v. Gillis, 432 N.J. Super. 36 (App. Div. 2013, and Ocwen Loan Services, LLC v. Quinn, 450 N.J. Super. 393 (App. Div. 2017) were instrumental to the latest ruling in Deely.The underlying facts in Deely involved a mortgage priority dispute between plaintiff and defendant Bank of America in a residential mortgage foreclosure action. On cross-motions for summary judgment, the Chancery Division applied equitable subrogation to give plaintiff’s mortgage priority, even thought it was recorded after defendant’s mortgage. When applying a de novo review to the grant of summary judgment, the court affirmed the trial court’s decision having recognized that appellate “review of a trial court’s decision to apply an equitable doctrine is limited,” and the panel would not “substitute our judgment for that of the trial judge in the absence of a clear abuse of discretion.”This opinion is a departure from prior case decisions which have held that a new lender is not entitled to subrogation, absent an agreement or formal assignment, if it possesses actual knowledge of the prior encumbrance. See First Union Nat’l Bank v. Nelkin, 354 N.J. Super. 557 (App. Div. 2002). Instead, the Deely panel opted not to follow the “actual knowledge” rule and adopted a principle from the Restatement (Third) of Property: Mortgages, that makes “material prejudice to the intervening lienor” the directing principle.In his opinion, Judge Geiger relied in large part on the Gillis holding and explained that “[e]quitable subrogation is appropriate when loan proceeds from refinancing satisfies the first mortgage, the second mortgage is paid in full as part of the transaction, and the transaction is based on a discharge of the second mortgage, so long as the junior lienor, here defendant, is not materially prejudiced. Under such circumstances, equitable subrogation should not be precluded by the new lender’s actual knowledge of the intervening mortgage. To do otherwise would allow [defendant] to reap an undeserved windfall by allowing the junior lienor to vault over the priority of the refinancing mortgage lender.” Home / Commentary / Examining Mortgage Liens and ‘Equitable Subrogation’ The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Previous: Industry Reacts: Marcia Fudge Confirmed as HUD Secretary Next: For Housing Assistance to Work, Communication Must Improve Data Provider Black Knight to Acquire Top of Mind 2 days ago Examining Mortgage Liens and ‘Equitable Subrogation’ Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more


Wellington boys lose, but Oxford boys, Conway Springs and South Haven girls win


first_imgConway 48, Cheney 43 Cheney1010914—43 Central132718—40 OXFORD: Norris 6, Payne 8, Cook 2, Lawrenz 7, Selenke 2, B. Metz 12. Circle — B. Horyna 19, C. Hartley 18, G. Cannon 10, B. Kirkpatrick 4, B. Jantzen 4, J. Wright 3 Conway Springs — S. Echelberry 21, K. Jones 9, E. Ebenkamp 7, S. Bellar 7, A. Carter 4 Caldwell153126—36 Wellington — C. Phelps 18, T. Nance 15, A. Snipes 10, C. Reichenberger 7, I. King 6 South Haven: Harris 12, Morrison 7, Ralls 8, Turek 12, Tanner 5, Culp 3, Hawkins 10. Total: 22 (1) 12-29 59. Central12456—25 CENTRAL: Moore 3, Beavers 8, Liebau 2, Mannon 2, Loewers 10. Oxford 53 Central 40The Oxford boys wrapped up the regular season with an impressive 13-point win.“Always good to get a win on senior night and wrap up a good career for our kids,” said Kyle Green, Oxford head boys basketball coach. “We had some illness tonight and Colter Silvan went down with an injury that we hope isn’t too bad. All in all we played hard and found a way to get it done.”Central took a 13-8 first-quarter lead but Oxford took over in the second quarter with a 17-2 output. The Wildcats outscored Central 15-7 in the third quarter to pull away for the win. Circle11171713—58 South Haven10251212—59 CENTRAL: McMichael 3, Lawson 4, Beavers 4, Demaronville 2, Kopplemann 9, Handlin 4, Branscum 12, Loew4er 2. Circle 58, Wellington 56 Girls: Conway Springs 48 Cheney 43 Conway Springs girls have set themselves up for the post season with a rather impressive 15-5 record after beating Cheney 48-43. Sara Echelberry was the leading scorer for the Cardinals with 21 points. Cheney — H. Albers 13, T. Lonker 10, Campbell 6, T. Denney 5, M. Ortiz 5, M. Wood 2, Monson 2 South Haven 59 Caldwell 36South Haven finished first in the South Central Border League and got its 13th straight win with its victory over Caldwell.Monica Harris and Paige Turek both scored 12 points apiece for the win.Caldwell took an initial 15-10 lead in the first quarter. But then came the second quarter when South Haven annihilated Caldwell with a 25-3 output. It was 35-18 at the half.The Bluejays could not close the gap thereafter.South Haven 59 Caldwell 36 Oxford8171512—53 Wellington1917812—56 Oxford 37 Central 25Oxford would pick up a big win over Central.Oxford 37, C-Burden 25 Conway1851411—48 By Tracy McCue, Sumner Newscow — The Wellington boys basketball team lost a tough one in Circle; Oxford boys took down Central Burden and South Haven girls clinched first in the South Central Border League.•••••Circle 58 Wellington 56 One thing the Wellington boys have been doing as of late is keeping it interesting.It started with the upset win at Winfield. Then there was the comeback that fell short against Andale. After a 40-point win at Mulvane, Wellington came just inches short of a huge come-from-behind win over Wichita Collegiate before losing by 3.Then on Tuesday, Wellington lost by 2 at Circle in front of a spirited hometown Towanda crowd on their Senior Night.This time Wellington did not perform a stunning fourth-quarter comeback. Instead, it was the tale of one bad quarter – the third one to be precise.Wellington established the tempo of this game early taking a 19-11 first quarter lead. The Crusaders then matched the Thunderbirds tit for tat and took a 36-28 half-time advantage.But in the third quarter, Circle would outscore Wellington 17-8 and that set the fourth-quarter showdown in which the Thunderbirds would win by two in front of  the raucous crowd.Connor Phelps was the leading scorer with 18 points. Trevor Nance had 15.B. Horyna and C. Hartley combined for 37 points for Circle.Wellington is now 9-10 and battles Clearwater at 7-12 on Wellington’s Senior Night Thursday. Reminder: This game is one night earlier than the typical Friday game. The Crusaders have lost to the Indians twice. Wellington really needs to finish off the regular season with a win to get back to .500. Oxford 53, C-Burden 40 OXFORD: Smith 2, Williams 13, Haskins 2, Silhan 9, Catlin 14, Shimkus 10, Parrin 1. Caldwell: S. Schmidt 11, H. Stuewe 19, T. Bardsley 3, Roop 1, Arnett 2. Total: 15 (3)  6-12 36. Oxford13978—37 Follow us on Twitter.last_img read more


Police used Jackie Robinson Stadium as a ‘field jail,’ and UCLA is not pleased


first_img“We’re troubled by accounts of Jackie Robinson Stadium being used as a ‘field jail,'” the university tweeted Wednesday. “This was done without UCLA’s knowledge or permission. As lessee of the stadium, we informed local agencies that UCLA will NOT grant permission should there be a request like this in the future.”MORE: Photos from Jackie Robinson’s first spring trainingThe following is from a letter sent to UCLA leaders and posted on Twitter by urban planning professor Ananya Roy:”Testimony from arrested protesters is chilling. Arrested for violation of curfew in downtown Los Angeles, protesters were crowded into LA County Sheriff’s Department buses and brought to UCLA. As they arrived, they looked out of the small windows on these prison buses only to see Bruins logos and signs greeting them at the Jackie Robinson Stadium.”Protesters were held on these buses at UCLA for five to six hours, without access to restrooms, food, water, information, or medical attention. Indeed, there was a medical emergency on one of the buses, one that received a response from the fire department several hours later. All protocols of social distancing were violated by the LA County Sheriff’s Department and LAPD with protesters deliberately crowded into buses and officers not following rules and recommendations established by the City, the County, and the CDC, including wearing masks.”The cruel irony that this took place at a location used as a COVID-19 testing site is not lost on those arrested or on us. When protesters were taken off the buses, they were subject to processing in the parking lot of the stadium and then released, which meant that they were directed to find their way home late at night (between 1:30 a.m. and 3:30 a.m.) from the Jackie Robinson Stadium. Without working cell phones and under conditions of curfew, this was a near impossible task, especially for those unhoused Angelenos who had also been arrested for curfew violation for simply being on the streets of downtown Los Angeles and were now marooned at UCLA.”In addition, protesters, including UCLA students, were arrested in Westwood, again for violation of curfew. They were brought to Jackie Robinson Stadium on LAPD buses after LAPD tried to commandeer a 720 Metro Bus but failed to maneuver it through the streets. We share these details because if you do not already know them, you must know them now.” The letter from UCLA faculty members goes on to demand “a full and detailed accounting” of Tuesday night’s incident from UCLA chancellor Gene Block and executive vice chancellor Emily Carter.NBC noted it was unclear exactly how many people were detained at Jackie Robinson Stadium or for how long.The stadium, which was dedicated in 1981, also features a bronze statue of Robinson on the concourse level. UCLA made clear early Wednesday morning that it did not permit police to use its baseball stadium as a “field jail” to temporarily detain people who had been arrested Tuesday night while protesting the death of George Floyd.The venue that was named after Jackie Robinson, a UCLA alum who in 1947 became the first African-American to reach the MLB stage, is no longer being used by police, according to LAPD officer Mike Lopez (via NBC News).last_img read more


Lily May leads the women’s amateur


first_img But as the wind got up she had some bad bounces, one of which led to a lost ball on the 12th. However, despite some dropped shots she also birdied 14 and 16. 18 Jul 2017 Lily May leads the women’s amateur Lamb decided on an hour on the range instead of a practice round, remarking: “I was just golfed out.  “I turned up on the tee today, guessing a bit about what to hit. But it worked out well.”  Click here for full scores Humphreys – who was also in action in Europe, helping the girls’ team to win a bronze medal – was on top form as she powered to the turn in three-under par.  Girl international Lily May Humphreys shot two under par 70 to lead the first round of the English women’s amateur championship at Lindrick, Yorkshire.  She’s a stroke ahead of Sophie Lamb and Gemma Clews, who are just back from Portugal where they helped England become European team champions at the weekend.  Clews played just nine holes in practice and relied on the lessons learned during a recent England squad practice on the course. “It was a good score considering!” she said “I grafted out the score despite not having my best game.”  The back nine, played in a strengthening wind, was trickier. But when Humphreys (Stoke by Nayland) found trouble she recovered well with some good up and downs – and when she lost a ball on the 16th she made a birdie with her provisional for a ‘good bogey’. “I’m pleased with the round, I think I played consistently,” said the 15-year-old who recently won the Sir Henry Cooper Junior Masters, to add to a host of titles amassed in 2016.  The Welsh stroke play champion finished in style with three birdies in the last five holes. “Towards the end I gave myself a bit of a talking to,” she reported.  After eight holes, she was four under par thanks to two birdies and an eagle. “I was really hot, my iron play was really good and I was rolling in the putts,” said Lamb, who is the British stroke play champion.  Two shots further back on one-over is India Clyburn (Woodhall Spa) and Emma Allen (Meon Valley). Clyburn was another member of the winning European team while Allen was in the side that won the gold medal last year.  Lamb (Clitheroe) and Clews (Delamere Forest) both admitted to tiredness after the demands of the European championship and arriving back on Sunday evening after a flight delay – and both cut their championship preparations short. last_img read more




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