Tag Archives: Nevada

While cost-burdened renters are common in pricey areas such as coastal cities, more traditionally affordable areas such as Nevada still hold a high share of renters paying over 30% of their income on housing.

Nevada has become the ninth state in the Simplifile network to implement e-recording statewide.

The state of Nevada is bringing back a much-needed option for distressed mortgage borrowers. But will it stick around for good this time?

The Foreclosure Mediation Program for Nevada is almost to an end, and with this close comes another sign of recovery for states hit hardest during the housing crisis.

The latest opinion by the Nevada Supreme Court on HOA foreclosures and super-priority liens was supposed to provide more clarity for the industry, but did it? Jon Patterson and Aaron Chastain of Bradley Arant Boult Cummings discuss.

Judge Gloria Navarro ruled in the case of Skylights LLC v. Byron that federal law prohibited a state-law HOA foreclosure from extinguishing a first deed of trust that is guaranteed by one of the government-sponsored enterprises.

Banks and lenders that have suffered huge losses in some cases when HOAs have extinguished mortgages where the delinquent HOA dues amounted to a fraction of the balance on the mortgage claim that the super-priority lien law gives the HOAs too much power.

Nevada was one of the states affected most by the crisis. In response to the housing crash, back in 2009 the Nevada legislature created a Foreclosure Mediation Program. The members of a subcommittee of the Nevada Legislature recently voted to recommend the elimination of the program, however, after determining that the housing market has sufficiently recovered.

Counsel's Corner is an ongoing series in which DS News talks with default servicing attorneys around the country about the most pressing issues facing the default servicing industry. This installment features Kristin Schuler-Hintz from the Nevada office of McCarthy Holthus.

Alfred M. Pollard, general counsel for the Federal Housing Finance Agency (FHFA), testified on Tuesday before the Nevada State Legislature Judiciary Committee on so-called "super-priority liens" and on recently introduced legislation to amend the way the foreclosure process is handled with regards to a homeowner association (HOA)'s lien.