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ARTICLE · 03 MARCH 2016

West Coast Real Estate Update: March 2, 2016

Holland & Knight
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The Supreme Court of California ruled that borrowers have standing to challenge a foreclosure on the grounds that an assignment of the mortgage from the initial lender to the foreclosing lender was invalid.

United StatesReal Estate and Construction
Susan Booth
Susan Booth
Stacie Goeddel
Stacie Goeddel
Robert Haight Jr.
Robert Haight Jr.
Karl Lott
Karl Lott
Douglas Praw
Douglas Praw
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Susan Booth, Karl Lott and Douglas Praw are Partners & Ashley Jason & Paul Park are Associates in Holland & Knight's Los Angeles office; Stacie Goeddel and Robert Haight Jr. are Partners in Holland & Knight's San Francisco office

Supreme Court of California Makes Mortgage Due Diligence More Difficult

The Supreme Court of California ruled that borrowers have standing to challenge a foreclosure on the grounds that an assignment of the mortgage from the initial lender to the foreclosing lender was invalid. The ruling in Tsvetana Yvanova vs. New Century Mortgage Corp., Case No. S218973, means that mortgage lenders must be extra diligent when acquiring loans to make sure the assignment procedure was fully and adequately documented.

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