G. Benjamin Milam

G. Benjamin Milam

Ben Milam represents mortgage lenders on a variety of claims, including unfair trade practices, fraud, wrongful foreclosure, the Fair Credit Reporting Act (FCRA), the Fair Debt Collection Practices Act (FDCPA), the Real Estate Settlement Procedures Act (RESPA), and the Truth in Lending Act (TILA). Ben also has experience in construction and insurance coverage litigation. View articles by Ben

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FFIEC Highlights Cyber Insurance for Financial Institutions

By G. Benjamin Milam on Posted in Cybersecurity, Data Privacy, FFIEC, Insurance
The Federal Financial Institutions Examination Council (FFIEC) has issued a joint statement emphasizing the need for lenders and servicers to include cyber insurance in their risk management program. Although the FFIEC did not announce new regulatory requirements or expectations, the announcement is further evidence of what most in the industry have already recognized: Cyber coverage … Continue Reading

Fourth Circuit Asked to Rule on Whether Mortgage Retroactively Incorporates Federal Servicing Requirements

By G. Benjamin Milam on Posted in Dodd-Frank Compliance, Foreclosing Entities, Foreclosure, Litigation Developments
A recent appeal to the Fourth Circuit may shed light on whether Virginia borrowers can assert federal mortgage servicing requirements as a defense to foreclosure when the mortgage instrument pre-dates the federal requirement. In Stansbury v. Federal National Mortgage Association, borrower Hollie Stansbury argues that a 2011 consent order between her mortgage servicer and the … Continue Reading

Nevada Supreme Court Rules HOA Super-Priority Liens Can Be Revived after Release

By G. Benjamin Milam on Posted in HOA Super Priority Liens
Homeowners’ associations have a more robust tool for forcing mortgage lenders to pay delinquent assessments following a September 14 decision by the Nevada Supreme Court. Nevada HOAs have enjoyed a super-priority lien under NRS 116.3116 for nine months of unpaid assessments preceding institution of foreclosure proceedings, in addition to certain charges for maintenance and nuisance … Continue Reading

Ruling Eases Lenders’ Path to Deficiency Judgments in NC

By G. Benjamin Milam on Posted in Deficiency Judgments, Foreclosure, Supreme Court
Winning a deficiency judgment following foreclosure may become less costly for lenders following a May 5 ruling by the North Carolina Supreme Court in United Community Bank v. Wolfe. Reversing a previous ruling by the Court of Appeals, the Supreme Court held that a borrower may not defeat summary judgment simply by filing a sworn … Continue Reading

Recovery of Real Property in South Carolina After a Tax Sale

By G. Benjamin Milam on Posted in State Law Developments, Tax
Acme Bank has a problem. Acme loaned $480,000 for the purchase of a beach house on Sullivan’s Island, South Carolina, securing the debt with a recorded mortgage. Six months ago, the bank received a letter from the county tax collector, which unfortunately was overlooked after being routed to the wrong department. Today, Acme was served with a lawsuit … Continue Reading

Nevada District Judge Voids HOA Foreclosure Following Evidence that HOA Hindered Bank’s Efforts to Preserve its Mortgage

By G. Benjamin Milam on Posted in HOA Super Priority Liens
Nevada Eighth Judicial District Judge Elizabeth Gonzales has voided a 2014 homeowners association (HOA) foreclosure sale and ruled that a first mortgage held by Bank of America, N.A. was unaffected by the sale. The April 20, 2016 ruling in Nevada New Builds, LLC v. Bank of America, followed a trial in which Bank of America … Continue Reading
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