Lack of Standing in Foreclosure: Assessing, Avoiding, and Overcoming the Borrower Defense

Despite recent improvements in the nationwide economy, commercial and residential foreclosure rates remain high. Borrowers anxious to save their property will scrutinize every detail of the lender's case to find ways to stave off foreclosure.

One defense that has had significant traction over the past few years is the assertion that the foreclosing lender lacks standing to foreclose. The vast majority of mortgage notes are transferred after origination, and an understanding of the proper assignment procedures is essential to avoiding this defense.

This topic will help lenders understand the procedures and required documentation for transfer of a note and mortgage or deed of trust before the foreclosure is filed. The material will also explore ways to overcome the defense when asserted by the borrower. This information is essential for lenders, foreclosure attorneys, and other real estate professionals.

Learning Objectives:

• You will be able to describe the requirements for a foreclosing lender to establish standing to foreclose.
• You will be able to explain the procedures for assigning a mortgage note to a subsequent lender.
• You will be able to identify issues related to lender standing in foreclosure cases.
• You will be able to discuss tips for avoiding or overcoming lack of standing defense.

This Live Webinar Covers These Hot Issues:

Transfer of Mortgage Note

• Promissory Note as Commercial Paper
  
• Assignment of Mortgage or Deed of Trust
  
• The Power of a Power of Attorney

Establishing Standing

• Judicial Foreclosure States
  
• Nonjudicial Foreclosure States
  
• Federal Courts

Lack of Standing Defense

• Rise of Standing Defense
  
• Challenging Void vs. Voidable Instruments
  
• Waiver of Defense

Tips for Avoiding or Overcoming Lack of Standing Defense

Credit Information (Sponsored by Lorman Education Services)

• CLE
• CPE
• NASBA

For Detailed Credit Information page click here

Only registered attendee will receive continuing education credit.

Faculty

Rachel M. Blise, Foley & Lardner LLP

• Associate in the Milwaukee, WI office of Foley & Lardner LLP
• Practice emphasizes bankruptcy, foreclosure, and creditors rights
• Conducts regular seminars on bankruptcy and foreclosure issues
• Can be contacted at 414-297-5862 or rblise@foley.com