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Article: The Wigod Decision

In March of 2012, the U.S. Court of Appeals for the Seventh Circuit issued its decision in Wigod v. Wells Fargo Bank. Lori Wigod was a borrower who sued her servicer on numerous theories, alleging that she was entitled to …

Article: New Illinois Supreme Court Rules

On February 22, 2013, the Illinois Supreme Court adopted several new rules governing foreclosure. The rules took effect on May 1, 2013. The overall effect of the new rules is to place greater burdens on plaintiffs and their counsel. However, …

Protecting Tenants in Foreclosed Rental Properties

On June 5, the Chicago City Council passed the Protecting Tenants in Foreclosed Rental Property Ordinance, which is also known as the Keep Chicago Renting Ordinance, or KCRO. The KCRO requires that purchasers at foreclosure sales either offer tenants $10,600 …

Article: An Affirmative for MERS

Mortgage Electronic Registration Systems (MERS) has become something of a Rorschach test for critics of the mortgage industry. If you were to rely on portrayals in defense motions, a few outspoken judicial opinions, and a handful of attorney general lawsuits, …