Illinois Appellate Court invalidates mortgage where lender was not properly licensed under the Residential Mortgage License Act

In a case of first impression in Illinois, the Appellate Court for the Second District of Illinois has determined that a mortgage made by an entity lacking authorization to conduct business under the Residential Mortgage License Act (205 ILCS 635/1-1 et seq.) is void...

Trent Bond obtains judgment reforming deed of trust and establishing lien priority

On behalf of an insured lender, Trent Bond obtained a favorable judgment following a bench trial, reforming a deed of trust and establishing lien priority.  At issue was the borrower’s dispute of her intent to encumber the entirety of her property and her contest over...

Sarah Holdener secures judgment establishing priority of refinance deed of trust

Sarah Holdener has secured judgment on behalf of a bank client establishing the senior priority of its refinancing deed of trust, where another lender had initially agreed, but failed, to issue a subordination of its own deed of trust.

Bill Sauerwein recovers $1,403,265.33 for his client following appeal.

Bill Sauerwein recovers $1,403,265.33 for his client in a case filed in Western District of the Federal District of Missouri concerning the sales proceeds from several tracts of Boone County commercial real estate.  The action by filed by an estate sought to declare...

Bill Sauerwein successful before Eighth Circuit

Bill Sauerwein succeeded on appeal before the Eighth Circuit on behalf of the FDIC and a purchaser of a bank’s assets in an action which involved the FDIC’s powers under FIRREA and the validity of title to financial assets transferred to the FDIC’s purchasers. After a...

Stewart Schneider and Trent Bond obtained Summary Judgment

Stewart Schneider and Trent Bond were awarded Summary Judgment on behalf of a Bank client, in a Judgment declaring the Bank’s deed of trust to be in a first lien position.  Central to the case was whether or not a Quit Claim Deed at issue, which was signed during the...

New Missouri Court of Appeals Decision Regarding the Enforceability of Spousal Guarantees under Regulation B of the Equal Credit Opportunity Act

Commercial lenders in Missouri should be aware of a recent Missouri Court of Appeals opinion regarding the enforceability of spousal guarantees under Regulation B of the Equal Credit Opportunity Act (the “ECOA”).  The case, titled Frontenac Bank v. T.R. Hughes, Inc....

Bill Sauerwein obtains reversal of trial court’s judgment in the 4th District of Illinois.

Representing a property owner and a lender, Bill Sauerwein successfully argued for reversal of a trial court’s judgment awarding damages and a lien to a judgment holder which attributed fault to the negligence of the title insurer.  The 4th District Appellate court...

Bill Sauerwein and Trent Bond reach favorable resolution of substantial mechanics lien claims.

Bill Sauerwein and Trent Bond successfully resolved claims on behalf of a lender at a mediation conducted at Missouri University School of Law.   At and following the mediation, a favorable settlement was reached with a contractor who filed a substantial mechanic’s...

FIRREA and standing arguments win dismissal and judgments for client

Bill Sauerwein and associates Anne Kelly and Mike Schroer combined efforts to obtain a dismissal of claims filed in the United States District Court against the FDIC.  The case involved an attempt by a partnership to invalidate a multi million dollar deed of trust...