Florida joins in $25 billion foreclosure settlement

It’s official. Florida Attorney General Pam Bondi signed off on the record $25 billion joint federal-state settlement agreement with the nation’s five largest mortgage servicers over foreclosure abuses and unacceptable nationwide mortgage servicing practices. Forty-nine of the fifty states have approved it, with Oklahoma being the lone hold out. According to the Florida Attorney General’s official press release, the settlement generally releases civil claims related to robo-signing, … [Read more...]

Broward Courts Considering Changes to Residential Foreclosure Mediation Program

I was honored to co-moderate last night’s Foreclosure Crisis Committee which was held by the Broward County Bar Association’s Real Property Section. I previously blogged here about the Florida Supreme Court’s termination of the statewide mandatory mediation program for residential foreclosures.  The new Administrative Order provides that circuit chief judges of each circuit may “adopt or employ any measures permitted by statute or court rule to manage pending and new residential … [Read more...]

Florida Ends Statewide Residential Mortgage Foreclosure Managed Mediation (RMFM) Program

Florida’s residential mortgage foreclosure managed mediation (RMFM) program is dead. Administrative Order No. AOSC11-44, signed yesterday by Florida Supreme Court Chief Justice Charles Canady, terminates the statewide mediation program.  The Court has reviewed the reports on the program and determined it cannot justify continuation of the program. Accordingly, upon issuance of this administrative order, the statewide managed mediation program is terminated. Cases already referred to and … [Read more...]

Report Issued by Statewide Managed Mediation Program Assessment Workgroup

In an earlier blog, I wrote about the Florida Supreme Court’s appointment of a “Statewide Managed Mediation Program Assessment Workgroup” to examine the statewide residential foreclosure managed mediation program data.  The Workgroup recently submitted its report to the Supreme Court.  You can obtain a copy of the report here.  The report is worth reading in its entirety, but I will touch on a few key points. After consideration of the available program data, public comments, chief … [Read more...]

Do Mandatory Mediations Work in Florida Foreclosure Cases?

Do mandatory mediations work in Florida foreclosure cases?  That’s the question being asked by the Florida Supreme Court.  The Court is seeking your input, but you only have until October 3rd to send in your comments. Earlier this week, the Florida Supreme Court released Administrative Order SC11-33.  In its Administrative Order, the Florida Supreme Court noted that more than one year of data has been collected on the statewide managed mediation program for residential foreclosures, and … [Read more...]

Do We Need a “Bad Mortgage” Bailout Fund?

South Floridians are acutely aware of the foreclosure meltdown. We’ve all had family, neighbors, or friends who have been affected. We’re not alone though. Many parts of our country are still reeling from the foreclosure crisis, and we’re not even close to seeing the light at the end of the tunnel. Foreclosure cases continue to drag on, and many question whether the foreclosing banks have the legal right to bring the cases to begin with. For years, Florida real estate lawyers have … [Read more...]