COVID-19 Lawsuits: Current Trends and What We Can Expect
In the less than two-month period since the first confirmed case of COVID-19 was reported in the United States, courts at both the state and federal levels have seen a steady rise in the number of COVID-19 lawsuits filed. The first of these lawsuits was filed on March 9, by a couple quarantined on…
HUD Suspends Filing of New Foreclosures and Proceeding with Current Foreclosures in Nationwide Response to Coronavirus
U.S. Department of Housing and Urban Developers (HUD)-approved lenders take note – the filing of new foreclosures and proceeding with current foreclosures has been suspended by HUD for the next sixty (60) days, beginning March 18, 2020. This moratorium applies only to mortgages insured by the…
Late Penalties on Loan Payments in Arkansas – What's the Rule?
A frequently asked question in the lending community is whether there is an established amount regarding the maximum late fee that can be charged for a late payment made on a loan in Arkansas. Unfortunately, the answer to such question is that there is no statutory or judicially sanctioned amount…
Assignment of Rents and Bankruptcy
If you are a lender whose collateral includes rents from an apartment building, shopping mall, or other income-producing property, you might want to check your loan documents to be sure that you have taken an absolute assignment of those rents. It could save you time, resources, and frustration if…
The Rise of Wire Fraud: Cybercrimes Targeting Money Wired in Real Estate Transactions Increasing
No one can argue that technology has worked wonders in the area of real estate transactions, making these transactions faster, smoother and more accessible. However, thanks to technology these transactions are now exposed to an increased threat from criminals working in digital spaces. Perceived as…