UPCOMING CONFERENCES & TRADE SHOWS
April 13-15, Frisco, TXFreddie Mac HomeSteps Regional TrainingAttending – Mark Pearson, Matt Cheney & Kyle KotakeApril 22-24, Dallas, TX9th Annual Mortgage Servicing News ConferenceAttending – Kevin Frazier
CLIENT ALERT – IMPACT ON TRIALS IN THE STATE OF FLORIDA
The Florida District Court of Appeal for the Fourth District has just published an important opinion on a case involving a mortgage foreclosure action. This decision, although not final until the deadline for the filing of a Motion for Re-Hearing has passed, could have a significant beneficial impact on the ability of servicers to introduce the business records of a prior servicer through their own witness.
A copy of the decision which is cited as Bank of New York as Trustee for the Noteholders CWABS Inc. Asset Backed Notes Series 2006-SD4006-SD4 v. Andrew Calloway, Case No. 4D13-2224, Jan. 7, 2015 has been distributed to all of our clients review.
Based upon the reasoning in the court’s decision, it is important for the lender’s witness to not only be conversant with the manner in which the client maintains its business records, but also regarding the relationship with the investor or prior servicer thus laying a foundation for the trustworthiness of such records based upon that relationship.
A more detailed analysis and alert will be forthcoming to all of our clients. However, based upon the substantial positive impact this decision can have on all trials in which the current servicer has not been the servicer for the loan since origination, this alert has been prepared for immediate distribution.
Contact Curtis Herbert for any questions, further information related to the published opinion or for a copy of the decision.