MCLLC EVENTS
In May 2008, Attorney Martha Croog wrote an article regarding Tax foreclosure concerns for Connecticut mortgage lenders.
To read the article in its entirety, please click here.
In May 2008, Attorney Martha Croog wrote an article on short saling. The article appeared in a special Real Estate section of the Hartford Courant on May 9, 2008.
To read the article in its entirety, please click here.
On April 1, 2008, Attorney Martha Croog presented to a group on the subject of Connecticut's strict foreclosure laws.
For a copy of Attorney Croog's presentation, please click here. (Note: Opening this file requires Adobe Acrobat Reader.)
In January 2008, Attorney Martha Croog wrote an article on the subprime mortgage crisis. The article appeared in a special Real Estate section of the Hartford Courant on January 14, 2008.
To read the article in its entirety, please click here.
In March 2007, Attorney Croog served as a member of a CMBA joint task force on a seminar entitled "When Is It Fraud?" Sponsored by various committees of the CMBA, this exciting and innovative seminar was designed to inform multiple segments of the mortgage banking community, including real estate brokers, mortgage brokers, appraisers, buyers, sellers, mortgage lenders and closing attorneys. The seminar focused on identifying transactions and specific conduct that constitute actionable fraud. Existing and anticipated state and federal regulation and related enforcement action were addressed.
Detecting and preventing mortgage fraud in the underwriting and appraisal processes is a challenge on which the CMBA's diverse and prestigious panel of speakers focused on. Available opportunities for mitigating the risk of fraud were examined, including proper disclosure, title and fraud insurance, as well as state of the art technology solutions.
The seminar featured State Attorney General Richard Blumenthal, as well as noted national speaker Ralph Roberts, both dedicated opponents of mortgage fraud in its various forms.
For a copy of Attorney Croog's presentation, please click here. (Note: Opening this file requires Adobe Acrobat Reader.)
On March 30, 2007, Martha Croog, LLC was approved as a member of the Mortgage Bankers Association.
The Law Office of Martha Croog, LLC was a proud sponsor of the successful CMBA Mortgage Expo which was held at the Mohegan Sun, in Uncasville, CT in January 2007.
In October 2006, Martha Croog was installed as a member of the Board of Directors of the Connecticut Mortgage Bankers Association. Attorney Croog is a member of the Legislative and Loss Mitigation Committees of the CMBA.
In September 2006, The Law Office of Martha Croog, LLC implemented CaseAware Integrate through KMC Information Systems (KMCIS). CaseAware Integrate enables MCLLC to exchange information with the industry's various external systems, such as NewTrak, Lenstar and VendorScape, and NewInvoice. MCLLC has always been dedicated to providing its mortgage banking clients with the highest quality of legal representation. Its alliance with CaseAware enables it to streamline timely case reporting and management and to surpass existing timeline efficiencies through an automated, two-way transmission of data between our firm’s Case Management/Accounting system and the external platforms utilized by some of our clients. The MCLLC team welcomes KMCIS and its dedicated staff, and is confident that MCLLC clients will benefit from the collaboration.
CASE NOTE
On October 17, 2006, the Connecticut Appellate Court decided Wells Fargo Bank of Minn., N.A. v. Morgan, 98 Conn. App. 72. Effectively overruling prior law, Morgan holds that a defendant’s remaining rights following trial court ratification of a foreclosure sale are not limited to the right to take an appeal, but also include the right to file a motion to open judgment at any time during the 20 day appeal period. In this regard, Morgan contrasts sharply with existing Connecticut law involving the finality of judgments of strict foreclosure, where, by statute, the filing of a motion to open judgment is prohibited once title has become absolute in a party, after the law days have run. This expansive ruling may have a chilling effect on third party bidders at CT foreclosure sales, whose rights are vulnerable to continuing litigation at the trial court level. The decision also may delay the issuance of an execution of ejectment, which may be an important preservation issue for mortgage lenders, especially during the winter months. Judgments of strict foreclosure, which do not involve a property auction, are available in CT mortgage foreclosures where there is no equity, minimal equity or negative equity in a property or, by consent of the junior lienholder(s).
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