The holder of an FDIC-assigned mortgage was required to record the assignment in order to accomplish a foreclosure by advertisement under state law, the Michigan Supreme Court has ruled in reversing a summary judgment.
Published: December 26, 2012
Tags: Congress, Dodd-Frank Wall Street Reform and Consumer Protection Act, FDIC, IOLTA accounts
WASHINGTON – Unless Congress acts by year’s end, IOLTA accounts will lose the unlimited FDIC insurance protection that has been available to them since the enactment of the Dodd-Frank financial reform law.
WASHINGTON – A bill that extends full FDIC protection of Interest on Lawyer Trust Accounts for two more years has been signed by President Barack Obama.
WASHINGTON – A bill passed by Congress would extend FDIC protection of Interest on Lawyer Trust Accounts into 2011, closing an inadvertent loophole created earlier this year by the Dodd-Frank Wall Street Reform and Consumer Protection Act.