Nevada Senate Passes Bill Affecting Super-Priority Liens in Foreclosure

The Nevada Legislature recently passed a bill intended, in part, to address issues resulting from the Nevada Supreme Court’s decision that a homeowners association lien is a true super-priority lien that, if foreclosed, extinguishes a first deed of trust. We wrote about the SFR Investments Pool I, LLC v. U.S. Bank, 130 Nev. Adv. Op. 75, 334 P.3d 408 (2014) decision in the October 9, 2014, edition of the Mortgage Banking Update.    Read the article………..