Month: June 2014

Loan Officer Error in Describing Lien Position Not Breach of Fiduciary Duty

In a June 12, 2014 decision, the North Carolina Supreme Court held a loan officer’s erroneous statements about the priority of another lien (1) did not give rise to a breach of fiduciary duty claim, and (2) did not give

Posted in Banking, Bankruptcy

Sophisticated Guarantor May Waive Lender’s Good Faith Foreclosure Bid Obligations

Colorado’s C.R.S. §38-38-106(6) requires a bank to bid at least its good faith estimate of the property’s fair market value at foreclosure (if not bidding the full amount due). The purpose is to protect borrowers and guarantors from excessive deficiency

Posted in Banking