| Ohio Courts Continue To Extend Doctrine Of Economic Loss To Eliminate Negligence Claims Against Property Appraisers |
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February 23, 2009 Link
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As the home mortgage crisis continues into another year, Ohio courts are dealing with newer sets of defendants as plaintiffs and parties attempt to extend a wider net of liability to recoup damages from mortgages that are now in default. Submitted by David W. Walulik.
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| Stimulus Act - Great News for Bonds |
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February 20, 2009 Link
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The American Recovery and Reinvestment Act of 2009 effective February 17, 2009 offers sweeping new changes in the municipal bond arena. Submitted by William L. Skees, Jr.
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| RDC, NACHA and Reg H |
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February 20, 2009 Link
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With a title like this, how can a banking law Post not succeed? Remote Deposit Capture (“RDC”) may be the most interesting light in the near term future for community banks. Submitted by William T. Repasky.
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| Kentucky Circuit Court Refuses to Enforce Mortgage Securing Line of Credit |
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February 11, 2009 Link
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Banks that extend lines of credit or revolving notes secured by mortgages to borrowers who subsequently enter into lending relationships with third party lenders can run into trouble enforcing those mortgages. Submitted by Ellen Sharp.
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| Payment of attorney’s fees can be required as condition of terminating foreclosure proceedings and reinstating Ohio residential loans |
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February 6, 2009 Link
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The Ohio Supreme Court unanimously upheld the ability of financial institutions to enforce an attorney’s fees provision when reinstating a defaulted residential mortgage contract. Submitted by Jeffrey R. Teeters.
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| Ohio Court Dismisses Claim by Ohio Lender Against Nonresident Borrower For Lack of Personal Jurisdiction |
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February 2, 2009 Link
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In an Ohio lender’s action against a nonresident borrower for alleged breach of terms of an equity reserve agreement, the Ohio Court of Appeals for the Eighth District (Cuyahoga County) recently held, in the case of National City Bank v. Yevu, that the borrower, whose only connection to Ohio was to remit monthly payments to the lender in Ohio, did not have minimum contacts with the state sufficient to support the exercise of personal jurisdiction over him. Submitted by Ali Razzaghi.
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| Cincinnati City Council Proposes a Six-Month Foreclosure Moratorium in Ohio |
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February 2, 2009 Link
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On January 14, 2009, Cincinnati City Council unanimously passed a resolution supporting a six-month foreclosure moratorium in the State of Ohio, and is urging the Ohio General Assembly to pass emergency legislation to make it happen. Submitted by Jeffrey S. Rosenstiel.
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