ACI's 25th National Forum on Residential Mortgage Regulatory Enforcement & Litigation

David Foster spoke at ACI's 25th National Forum on Residential Mortgage Regulatory Enforcement & Litigation on October 23, 2018 in Dallas. His topic was “Hotbed Statute of Limitation Jurisdictions: Drawing the Line on Date of Breach, Foreclosure Nuances, and Default Notices.”

Statute of limitation challenges are often difficult to overcome and pose huge obstacles to practitioners. Technical violations are rampant as there are specific guidelines on sending letters and notices to borrowers in default. As a result, financial institutions are finding difficulty in meeting certain requirements to stay compliant, while borrowers often raise affirmative defenses during the foreclosure process which lengthens the time of litigation and increase costs.

In this session, speakers explored statute of limitations challenges relative to determining date of breach, foreclosure nuances, and default notices in hotbed states including New York, Florida, and Texas.

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