We find that a 2003 reform that empowered shareholders to approve or reject repricing proposals led to value increases in previous repricers.
A summary procedure for removing a lis pendens is provided in the California Code of Civil Procedure Section 405.3 et seq.
This section allows a “mini trial” on the merits of the borrowers claim.
Once a lis pendens is recorded, no title insurance company will issue a title insurance policy unless and until the lis pendens is removed.
Although the servicer may “bond around” the lis pendens without titleinsurance, the real property security is virtually inalienable.
If for some reason the servicer is unable to provide a breakdown of the amounts due and owing on the note and deed of trust at issue,or at least provide sufficient information to refute the borrower’s allegations, it is likely the injunction will be issued.
In most cases, the injunction will be conditioned upon the borrowers filing a significant bond and making timely debt payments.For a small but seemingly growing number of loans, the non-judicial foreclosure process has become rather judicial. How Can a Wrongful Foreclosure Action Delay Recovery of the Security?To borrowers who choose to allocate their resources away from debt payment towards fighting a loan servicers right to its payments and its security, the nonjudicial foreclosure process is a war of attrition which ranges from the bankruptcy court, to superior court to municipal court. The wrongful foreclosure action is often brought prior to the non-judicial foreclosure sale in order to delay the sale, but the action may also be brought after the non-judicial foreclosure sale. A wrongful foreclosure suit filed in superior court will not necessarily delay a servicers recovery of its security.We propose a framework that advances our understanding of Chief Executive Officer (CEO) retention decisions in misreporting firms.Consistent with economic intuition, outside directors are more likely to fire (retain) CEOs when retention (replacement) costs are high relative to replacement (retention) costs.Like an action to expunge a lis pendens, a borrowers application for an injunction is essentially a “mini-trial” on the merits.