Cases And Statutes

Question 1

735 Ilcs 5/15-1503

Answer 1

Notice of Fcl to City/County/Alf

Recorded notice of foreclosure. Mailing to municipality, county or alderman within 10 days of filing complaint. Aff of mailing to be filed in court. Dismissal without prejudice if no mailing or aff of mailing.

Question 2

765 ilcs 605/9(g)(3)

Answer 2

Post Sale Dues

Payment of post sale dues confirms extinguishment of pre foreclosure assessment liens.

Question 3

765 ILCS 5/30

Answer 3

Recording Act

All documents of title take effect as to the general public and subsequent creditors at the time submitted for recording.

Question 4

24 cfr 203.604

Answer 4

Contact with mortgagor.

Question 5

765 Ilcs 77/70

Answer 5

Predatory Lending Database

• Cook, Kane, Peoria, Will
• Mandatory notice and counseling
• Cert of Compliance with mortgage
• Cert of service with LP - IDPFR (must be e-service)
• ANY violation is consumer fraud

Question 6

12 USC 5220

Answer 6

PTFA

• sunset repealed effective 7/23/18
• Must honor existing lease
• At least 90 days notice
• Lease must be bona fide:
  
  • not immediate family
  • arms length
  • near market rent
• Notice of fcl is when fcl is complete

Illinois PTFA: 735 ilcs 5/9-207.5

Question 7

735 ilcs 5/15-1224

Answer 7

Bona fide lease - IMFL

-not spouse, child or parent (unless can
prove bona fide by preponderance of evd)
-arms length
-substantially near fair market rent

And . . .

• before LP or term 1yr or less
• if written and after LP but b/f sale, bona fide for 1yr
• if oral and after LP & b/f sale, m2m for up to 1yr
• if after sale but b/f conf., m2m

Question 8

Illinois original note counties

Answer 8

DeKalb Douglas Johnson

Kane

Question 9

24 cfr 203.675

Answer 9

HUD Occ letter - send letter 60 to 90 days before MORTGAGEE “reasonably expects” to acquire title.

Question 10

735 ilcs 1505.5

Answer 10

Payoff demands. 10 days to respond.

Must include 30 day estimate based on reasonable belief.

Willful failure: actual damages or $500.

Question 11

Cathay Bank v. Accetturo (1st Dist. 2017)

Answer 11

Acceleration notice req of mortgage are condition prec. to foreclosure.

Five letters, none came close to meeting the specific requirements of Paragraph 21.

Distinguishes:
Citimortgage v. Hoeft (1st Dist. 2015)
BANA v. Luca, (3rd Dist. 2013 (GPN case))

Question 12

735 ILCS 5/15-1504.1 Tier system

Answer 12

175 or more: $500

50 to 174: $250

0 to 49: $50

Question 13

Documents Needed at Referral

Answer 13

Mortgage
Note/endorsements or allonges
Loan mods, if any
Demand
AOM (if MERS or client requires)
Tier filing info
Payoff figures
Referral letter
Screen prints
F2F, if FHA insured

Question 14

Wells v. Simpson (1st Dist. 2015) (Delort)

Answer 14

-Once a motion to confirm sale is filed, court must consider the motion in accordance with 1508(b)

More:

• Motions to vacate default routinely denied when no facts alleged that would have prevented judgment, if they had been known by the trial court.
• Failure to deny deemed allegations results in judicial admission of same.

Question 15

Calligan v. Calligan (Il S. Ct. 1913).

Answer 15

Deed presumed executed and delivered on the day it is dated.

Question 16

U.S. Bank v. Atchley (3rd Dist. 2015).

Answer 16

Personal deficiency mandatory.

Question 17

U.S. Bank v. Advic, (1st Dist. 2014).

Answer 17

Very detailed AOI was 191 compliant.

Question 18

Nationstar v. Missirlian, 1st Dist, 2015.

Answer 18

“Dina” amendment to RMLA was retro.