Category Archives: Memorandum

Complying with the 2018 Amendment to the Michigan Marketable Record Title Act (MRTA) (2018 PA 572)

Simon PLC Attorneys & Counselors – February 2020 Memorandum Complying with the 2018 Amendment to the Michigan Marketable Record Title Act (MRTA) (2018 PA 572) Bloomfield Hills, Michigan – The MRTA (the Act) was enacted in 1945 with the intent to “clean up” titles by eliminating interests in land more than 40 years old from […]

House Bill No. 4306: Michigan Legislature Enacts New Foreclosure Notice Requirements

Simon PLC Attorneys & Counselors – January 2020 Memorandum House Bill No. 4306: Michigan Legislature Enacts New Foreclosure Notice Requirements Bloomfield Hills, Michigan – On Thursday, December 12, 2019 Michigan Governor Gretchen Whitmer signed HB 4306 into law which requires certain information to be included in a notice of foreclosure by advertisement. Uncertainty over the […]

Chapter 13 Bankruptcy Co-Debtor Stay

Simon PLC Attorneys & Counselors – November 2019 Memorandum Chapter 13 Bankruptcy Co-Debtor Stay Bloomfield Hills, Michigan – Creditors are all generally familiar with the automatic stay provided for under the bankruptcy code. The automatic stay requires that all efforts to collect debts from the debtor and property of the estate must immediately cease upon […]

Creditor Considerations as New York Legislature Passes New Limits on Confessions of Judgment

Simon PLC Attorneys & Counselors – October 2019 Memorandum Creditor Considerations as New York Legislature Passes New Limits on Confessions of Judgment Bloomfield Hills, Michigan – This summer the New York State Legislature passed legislation that put new limits on the use of the long used procedural tool by creditors, banks and financial institutions – […]

Simon PLC Attorneys & Counselors – September 2019 Memorandum Mortgage Servicing Rules: Small Servicer Exemption Considerations

Bloomfield Hills, Michigan – In 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) was enacted and amended RESPA (Reg. X) and TILA (Reg. Z) and granted authority to the Consumer Financial Protection Bureau (“CFPB”) to issue rules regarding servicing of residential mortgage loans. The most recent version of the rules were […]

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