Banking Law: December 2012 Archives

Foreclosure By Entry Is Effective Method for Mortgagee to Gain Fee Simple Title

The Massachusetts Land Court's decision this fall in HS Land Trust LLC v. Gonzalez, Civ. Action No. 11 Misc. 446482 (October 30, 2012), serves as a useful reminder that a foreclosure by entry - which often accompanies a foreclosure by sale - is a perfectly valid method of obtaining title following the breach of a mortgage's conditions.

Senator-elect Elizabeth Warren Appointed to Senate Banking Committee

The Democratic Steering Committee has approved the assignment of Senator-elect Elizabeth Warren, one of the most vocal critics of the financial services sector, to the Senate Banking Committee. Warren previously led a congressional oversight panel that criticized the government's so-called "bank bailout" in the wake of the financial crisis. Warren was the driving force behind the creation of the new Consumer Financial Protection Bureau, an agency created by the Dodd-Frank financial system overhaul. Her potential appointment to head the Bureau, however, drew strong objections from Senate Republicans. When the appointment went to former Ohio attorney general Richard Cordray, Warren instead successfully challenged incumbent Senator Scott Brown's reelection.

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