Nevada Fed. Court Denies Class Cert. on ‘Ascertainability’ Grounds, Confirms Fannie/Freddie Liens Not Extinguished by HOA Foreclosure
The U.S. District Court for the District of Nevada recently confirmed that a homeowner association’s foreclosure of its superpriority lien cannot extinguish a property interest of Fannie Mae or Freddie Mac while those entities are under the Federal Housing Finance Agency’s (FHFA) conservatorship. In so ruling, the Court also denied class certification, holding that the issue of whether Fannie Mae or Freddie Mac held an interest in the property at issue at the time of a homeowner association foreclosure sale presents an impermissible individualized factual inquiry that would require “mini-trials” as to each affected property. Read the article………………..
Today’s post is the second and final installment of my annual report on new laws affecting community associations. In the
While Florida continues to make progress processing and completing the backlog of residential foreclosures stemming from the prior decade’s housing