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Security Interest Perfected on the Filing Date Remains Valid if It Lapses Later
The addition of Section 362(b)(3) is held not to affect the ‘freeze rule’ with regard to lapsing security interests.
Judge Name - Do not use it.
Thomas J. Catliota
Chicago Judge Refuses to Confirm a ‘Step’ Chapter 13 Plan
Judge Barnes won’t allow a chapter 13 debtor’s counsel to be paid at the expense of secured creditors.
Judge Name - Do not use it.
Timothy A. Barnes
Requiring Conduit Mortgage Payments Is Ok Despite Costing the Debtor $5,300
Bankruptcy judge says a chapter 13 debtor receives ‘several benefits’ from paying 8% in commissions on mortgage payments through the trustee.
Judge Name - Do not use it.
Stephani W. Humrickhouse
Non-Bank Lender Freedom Mortgage Climbs Ranks of Mortgage Originators After Crisis
Freedom Mortgage is nowhere near the size of behemoths like Citigroup Inc. or Bank of America Corp., yet last year it originated more mortgages than either of them, the Wall Street Journal reported. With nearly $51.1 billion in mortgage originations, according to industry research group Inside Mortgage Finance, it is now the 11th-largest mortgage lender in the U.S., up from No. 78 in 2012. Its rise points to a bigger shift in the home-lending business to specialized mortgage lenders that fall outside the banking sector. Such nonbanks, critically wounded in the housing crisis, have re-emerged to become the market’s dominant players, with 52 percent of U.S. mortgage originations, up from 9 percent in 2009. Six of the 10 biggest U.S. mortgage lenders today are nonbanks, according to the research group. (Subscription required.)
