Bank of America, N.A. v. Diamond Financial, LLC (Lawyers Weekly No. 11-167-15)
Bank of America won equitable subrogation to restore senior mortgage priority after a refinancing error left it junior to Diamond Financial's mortgage.
Bank of America won equitable subrogation to restore senior mortgage priority after a refinancing error left it junior to Diamond Financial's mortgage.
Junior mortgagee must disburse foreclosure surplus to mortgagor, not senior mortgagee. Senior lien remains attached to property after junior foreclosure.
Face-to-face meeting requirement in FHA-insured mortgage is condition precedent to foreclosure; material facts remain about meeting's compliance.
Trustees sought declaratory judgment that trust document expressed settlor's tax intent or reformation to clarify meaning. Court dismissed where no mistake, uncertainty, or actual tax authority dispute existed.
Court affirmed denial of petition challenging disqualification of opposing counsel, finding adequate alternative remedy exists through normal appeal.
Housing Court has jurisdiction to hear counterclaims challenging postforeclosure plaintiff's title and to award damages, reversing prior requirement for separate equity action.