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Category Archives: Note Sales

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New York and Florida Courts Enforce E-Notes

Posted in CFPB, Foreclosure, Kentucky Law, Note Sales
enotesAppellate courts in New York and Florida recently ruled that mortgage lenders “holding” electronic notes had standing to foreclose on the real property securing the E-Notes. Although Congress passed the Electronic Signatures in Global and National Commerce Act (ESIGN) in 2000, and nearly all states have passed the Uniform Electronic Transactions Act (UETA) in the… Continue Reading

Fisker’d!!!11 – Free Lance-Star Court Caps Credit Bid

Posted in Chapter 11, Note Sales
fls-building-500I (along with every other bankruptcy blogger) wrote extensively on the Fisker decisions from Delaware limiting a secured creditor’s right to credit bid.  My original post is here, and some other good discussion can be found here and here. Yesterday, Judge Huennekens entered a Memorandum Opinion (the opinion can be found here) that similarly capped the… Continue Reading

Investors Can Enjoy Bank’s Interest Rates Upon Sale

Posted in Default Rate, Interest Rates, Note Sales, Usury
Buying and selling distressed debt is common today. When buying promissory notes, buyers (i.e., future holders) may overlook whether they can actually charge the interest rate(s) charged by the note seller after closing. This issue comes up most when an individual or private company investor wants to buy a Bank asset or portfolio. At least… Continue Reading